https://en.sputniknews.africa/20240511/ghana-to-become-first-african-government-to-use-blockchain-technology-to-combat-corruption-1066489008.html
Ghana to Become First African Government to Use Blockchain Technology to Combat Corruption
Ghana to Become First African Government to Use Blockchain Technology to Combat Corruption
Sputnik Africa
Blockchain technology is a decentralized system that maintains public transactional records, also known as blocks, in several databases, known as the "chain,"... 11.05.2024, Sputnik Africa
2024-05-11T17:27+0200
2024-05-11T17:27+0200
2024-05-11T17:27+0200
sub-saharan africa
ghana
west africa
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Ghana to become Africa's first blockchain-powered government to fight corruption, the country's Vice President Mahamudu Bawumia said at the 14th Regional Conference and Annual General Meeting of Heads of Anti-Corruption Agencies in Commonwealth Africa in capital Accra.Blockchain technology can identify and detect any changes in digital data to track governmental transactions. Implementing this measure will enhance transparency and empower the government to eradicate corruption, the vice president explained.Bawumia also highlighted the digital initiatives implemented by the government since 2017, which have brought enormous benefits to the country. Here are some examples that he provided:Furthermore, he urged African anti-corruption agencies to implement digital forensics and tools as they will help trace and distract the corruption value chain. The continent's anti-graft institutions should also develop dedicated security operations centers to fight corruption networks.Last but not least, according to Bawumia, Ghana will fight corruption more effectively once the Central Bank introduces Central Bank Digital Currency, or e-Cedi.Additionally, it would allow the bank to ensure a high level of transparency, mitigate the risk of fraud, prevent tax evasion, and combat money laundering.The 14th Commonwealth Regional Conference of Heads of Anti-Corruption Agencies in Africa took place in Accra from 6-11 May under the theme "Strengthening Institutions and Promoting Transparency: A Means of Fighting Corruption in Commonwealth Africa." It gathered 20 Commonwealth African nations to discuss strategies for combating corruption on the African continent and fostering economic prosperity.
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ghana, west africa, corruption, money laundering, taxes, currency, technology, blockchain
ghana, west africa, corruption, money laundering, taxes, currency, technology, blockchain
Ghana to Become First African Government to Use Blockchain Technology to Combat Corruption
Blockchain technology is a decentralized system that maintains public transactional records, also known as blocks, in several databases, known as the "chain," in a network connected by peer-to-peer nodes. This way, the blocks cannot be replaced or hacked, as this would require hacking all the computers connected to the system.
Ghana to become Africa's first blockchain-powered government to fight corruption, the country's Vice President Mahamudu Bawumia
said at the 14th Regional Conference and Annual General Meeting of Heads of Anti-Corruption Agencies in Commonwealth Africa in capital Accra.
Blockchain technology can identify and detect any changes in digital data to track governmental transactions. Implementing this measure will enhance transparency and empower the government to
eradicate corruption, the vice president explained.
Bawumia also highlighted the digital initiatives implemented by the government since 2017, which have brought enormous benefits to the country. Here are some examples that he provided:
Ghana.gov, a one-stop platform for electronic public service payments, allowed to collect GH¢201 billion (more than $14.3 billion) since 2020;
Upon digitizing passport acquisition operations, the Passport Office saw a 347,000 to 752,000 rise in applications and a revenue increase from GH¢12 million (a bit over $857,000) to GH¢94 million ($6.7 million) between 2018 and 2023;
By integrating public sector databases using national
identity card, GhanaCard, the Controller and Accountant General's Department eliminated 29,000
"ghost" pensioners, saving the government GH¢480 million (approx. $34.3 million) yearly;
GhanaCard was also used to identify 44,707 fake identities on the National Service Scheme payroll, saving the nation GH¢356 million (about $25.4 million).
Furthermore, he urged African
anti-corruption agencies to implement digital forensics and tools as they will help trace and distract the corruption value chain. The
continent's anti-graft institutions should also develop dedicated security operations centers to fight corruption networks.
Last but not least, according to Bawumia, Ghana will fight corruption more effectively once the Central Bank introduces Central Bank
Digital Currency, or e-Cedi.
“The e-Cedi will be our ultimate weapon in our fight against corruption because it will make it easy to track the movements of money and identify suspicious activities,” he said.
Additionally, it would allow the bank to ensure a high level of transparency, mitigate the risk of fraud, prevent tax evasion, and combat
money laundering.
The 14th Commonwealth Regional Conference of Heads of Anti-Corruption Agencies in Africa took place in Accra from 6-11 May under the theme "Strengthening Institutions and Promoting Transparency: A Means of Fighting Corruption in Commonwealth Africa." It gathered 20 Commonwealth African nations to discuss strategies for combating corruption on the African continent and fostering economic prosperity.
