Ghana’s Central Bank kicks off at CBDC Reis

The Bank of Ghana has signed a contract with Giesecke + Devrient (G + d) to implement the central bank’s digital currency (CBDC) pilot program in the West African country. 

Ghana switches to digital technology
The decision behind the CBDC program was based on the country’s new cash relief program and the digital Ghana initiative, which will include the digitisation of 30 million Ghana residents and all of the country’s public services. The project will also lead the launch of the digital form of the national currency Cedi, known as the e-cedi. 

According to the manual description, 

“[The Program] also aims to facilitate payments without a bank account, contract or smartphone, thereby promoting the use and financial availability of digital services among all demographic groups Dec.” 

Director Of The Bank Of Ghana Ernest K. Y. Addison said:,

“CBDC provides an excellent opportunity to build a robust, inclusive, competitive and sustainable financial sector managed by the Central Bank. All the data show that the concept plays an important role in the future of financial services worldwide. This project is an important step towards positioning Ghana to take full advantage of this new concept.”

Forward-Looking Technical Support From G + D
To develop a customized CBDC solution that best suits the needs of the country, G + D offers technology support known as Filia. This will combine cash benefits with user needs, along with high security, easy accessibility and high sustainability, regulatory compliance and data protection. Moreover, the program also promises secure offline payments even without an internet connection.

The Program will go through a soft start/testing phase where banks and payment service providers, vendors, consumers and other stakeholders will test. 

CEO of the G + D currency technology sector Dr. Wolfram Zaidemann,, 

“Central banks around the world are investigating

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