Tema-Ghana, June 28, GNA – The YAFO Institute, a policy think-tank based in Accra, has engaged some key stakeholders on the prospects of Fintech and Block chain innovations in Ghana’s quest to roll out a digital economy.
The block chain policy dialogue was organised on the theme: “Unlocking economic growth in Ghana through Fintech and Block Chain Innovations for Free Trade,” with the aim of ensuring Ghana was able to transact business with her neighbouring countries without any interference.
In a keynote address, Mr. Nathaniel Dwamena, President of the YAFO Institute, stated that it was time for Ghana to roll out effective technologies to propel development within the various facets of the economy.
Mr. Dwamena noted that to date, most African countries do not have a comprehensive bill to monitor block chain and its associated innovations.
He stressed that there were several block chains that could be enrolled by government agencies and departments to ensure transparency within the public procurement sector.
According to the president of the YAFO Institute other developed countries have used block chain innovations that yielded the needed results, and Ghana could emulate such gestures to deal with the numerous discrepancies that come with public procurement.
Mr. Dwamena further stated that digitalizing the economy means the government must pay critical attention to modern technological innovations if it truly wanted to do away with human interference across the various sectors as far as supply and procurement are concerned.
He said block chains are open, secured, and decentralized and would help the government rake in needed revenue for development.
Professor Enoch Opoku Antwi, author and leadership consultant, who was the chairman for the event, reiterated that Ghana must brace itself to adapt to the current evolutions.
Professor Antwi stated that with well-integrated digital systems, the country would be ready to compete with developed countries as far as international and internal trade were concerned.
He expressed gratitude to the YAFO Institute for organizing such an event and called on the participants to employ modern technologies going forward.
