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E-Cedi
The E-Cedi is a proposed central bank digital currency (CBDC) for Ghana. Dr. Ernest Addison is the Governor of the Bank of Ghana. In June 2021, he announced the development of the E-Cedi. CBDC currencies are digital currencies that digitize a country's fiat currency. Electronic tokens backed by the Ghana government will replace coin minting or printing paper notes. History The E-Cedi is part of a project called the 'Digital Ghana Agenda'. Its goal is the digitization of Ghana's 30 million people, and government services. The E-Cedi is to complement the Ghanaian cedi, and serve as an alternative to physical cash, and the 'Cashlite Agenda'. The three phases for the E-Cedi are design, implementation, and piloting. The E-Cedi will be used on mobile applications and other apps. The Bank of Ghana partnered with Emtech, a fintech startup with its focus on central banks and digital transformation for the banking sector. Emtech is a software that tests solutions including the blockch ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ghanaian Cedi
The cedi ( ) (currency sign: GH₵; currency code: GHS) is the unit of currency of Ghana. It is the fourth historical and only current legal tender in the Republic of Ghana. One cedi is divided into one hundred pesewas (Gp). After independence Ghana separated itself from the British West African pound, which was the currency of the British colonies in the region. The new republic's first independent currency was the Ghanaian pound (1958–1965). In 1965, Ghana decided to leave the British colonial monetary system and adopt the widely accepted decimal system. The African name Cedi (1965–1967) was introduced in place of the old British pound system. Ghana's first President Dr. Kwame Nkrumah introduced Cedi notes and Pesewa coins in July 1965 to replace the Ghanaian pounds, shillings and pence. The cedi bore the portrait of the President and was equivalent to eight shillings and four pence (8s 4d), i.e. one hundred old pence, so that 1 pesewa was equal to one penny. After ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Bank Digital Currency
A central bank digital currency (CBDC) (also called digital fiat currency or digital base money) is a digital currency issued by a central bank, rather than by a commercial bank. A report by the Bank for International Settlements states that, although the term "central bank digital currency" is not well-defined, "it is envisioned by most to be a new form of central bank money ..that is different from balances in traditional reserve or settlement accounts." The present concept of CBDCs was inspired by Bitcoin and similar blockchain-based cryptocurrencies, but differs from such a virtual currency and cryptocurrency in that a CBDC is or would be issued by a state. Most CBDC implementations will likely not use or need any sort of distributed ledger such as a blockchain. CBDCs are presently mostly in the hypothetical stage, with some in proof-of-concept programmes. According to ECB's chief Christine Lagarde, more than 80 central banks are looking at digital currencies. China's di ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Blockchain
A blockchain is a type of distributed ledger technology (DLT) that consists of growing lists of records, called ''blocks'', that are securely linked together using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data (generally represented as a Merkle tree, where data nodes are represented by leaves). The timestamp proves that the transaction data existed when the block was created. Since each block contains information about the previous block, they effectively form a ''chain'' (compare linked list data structure), with each additional block linking to the ones before it. Consequently, blockchain transactions are irreversible in that, once they are recorded, the data in any given block cannot be altered retroactively without altering all subsequent blocks. Blockchains are typically managed by a peer-to-peer, peer-to-peer (P2P) computer network for use as a public distributed ledger, where nodes collectively adhere to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unbanked
The unbanked are adults who do not have their own bank accounts. Along with the underbanked, they may rely on alternative financial services for their financial needs, where these are available. Causes Some reasons a person might not have a bank account include: * Lack of access via a nearby bank branch or mobile phone * Minimum balance fees * Distrust of the banking system, typically due to lack of transparency regarding fees and deposit timingThe Unbanking Of America - ''Think'' interview with economist Lisa Servon * No access to government-issued ID, which is required to open a bank account The unbanked in the United States The ''unbanked'' are described by the[...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Africa
Africa is the world's second-largest and second-most populous continent, after Asia in both cases. At about 30.3 million km2 (11.7 million square miles) including adjacent islands, it covers 6% of Earth's total surface area and 20% of its land area.Sayre, April Pulley (1999), ''Africa'', Twenty-First Century Books. . With billion people as of , it accounts for about of the world's human population. Africa's population is the youngest amongst all the continents; the median age in 2012 was 19.7, when the worldwide median age was 30.4. Despite a wide range of natural resources, Africa is the least wealthy continent per capita and second-least wealthy by total wealth, behind Oceania. Scholars have attributed this to different factors including geography, climate, tribalism, colonialism, the Cold War, neocolonialism, lack of democracy, and corruption. Despite this low concentration of wealth, recent economic expansion and the large and young population make Afr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eastern Region (Ghana)
The Eastern Region is located in south Ghana and is one of the sixteen administrative regions of Ghana. Eastern region is bordered to the east by the Lake Volta, to the north by Bono East Region and Ashanti region, to the west by Ashanti region, to the south by Central region and Greater Accra Region. Akans are the dominant inhabitants and natives of Eastern region and Akan, Ewe, Krobo, Hausa and English are the main spoken languages. The capital town of Eastern Region is Koforidua.The Eastern region is the location of the Akosombo dam and the economy of the Eastern region is dominated by its high-capacity electricity generation. Eastern region covers an area of 19,323 square kilometres, which is about 8.1% of Ghana's total landform. Hydro project High-capacity electricity generation Akosombo Hydroelectric Project contains three main tributaries: the Black Volta; the White Volta and the Red Volta and the Akosombo Hydroelectric Project flows into the Gulf of Guinea on the Atl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mamfe Akuapem
Mamfe is a town in the Akuapim North Municipal District of the Eastern Region of south Ghana. It shares borders with Amanokrom and Akropong History Mamfe is one of the Guan Speaking towns in Akuapem. The rise of the town is dated back to the 15th or 16th century, when the part of the Guans people (the La nation) began to settle in the area. Festival The people of Mamfe celebrate Ohum Ohum, (officially spelled Awhum), is a valley town in Enugu State, in southeastern Nigeria. Geography The town is located about 24 kilometres from Enugu (Coal City) the state capital. The town is bounded in the north by Okpatu, in the east by Ni ... and this ceremony is usually held in November/December. Ohum is one of Ghana's many festivals that see attendance from people from all walks of life including the diaspora. References Populated places in Ghana {{EasternRegionGH-geo-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Akuapem Rural Bank Limited , a former kingdom
Akuapem may refer to: * Akuapem people, an ethnic group of Ghana * Akuapem dialect, their language * Akuapem Kingdom Akropong is a town in South Ghana and is the capital of the Akuapim North District, a district in the Eastern Region of South Ghana. This town is known for producing snails and palm oil. See also * {{Disambiguation Language and nationality disambiguation pages ...[...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nana Akufo-Addo
Nana Addo Dankwa Akufo-Addo ( ; born 29 March 1944) is a Ghanaian politician who has served as the president of Ghana since 7 January 2017. In 2020, he was re-elected for his second term, which will end on 6 January 2025. Akufo-Addo previously served as Attorney General from 2001 to 2003 and as Minister for Foreign Affairs from 2003 to 2007 under the Kufuor-led administration. He was elected as the Economic Community of West African States (ECOWAS) chairman on 7 September 2020. He was re-elected for a second term as the Economic Community of West African States (ECOWAS) Chairman on 2 February 2021. He ended his term on 3 July 2022. Akufo-Addo first ran for president in 2008 and again in 2012, both times as the candidate of the New Patriotic Party (NPP). He lost on both occasions to National Democratic Congress' candidates: John Evans Atta Mills in 2008 and John Dramani Mahama in 2012. After the 2012 general elections, he refused to concede and proceeded to court to challeng ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fintech
Fintech, a portmanteau of "financial technology", refers to firms using new technology to compete with traditional financial methods in the delivery of financial services. Artificial intelligence, blockchain, cloud computing, and big data are regarded as the "ABCD" (four key areas) of fintech. The use of smartphones for mobile banking, investing, borrowing services, and cryptocurrency are examples of technologies designed to make financial services more accessible to the general public. Fintech companies consist of both startups and established financial institutions and technology companies trying to replace or enhance the usage of financial services provided by existing financial companies. A subset of fintech companies that focus on the insurance industry are collectively known as insurtech or insuretech companies. Key areas Academics Artificial intelligence (AI), blockchain, cloud computing, and big data are considered the four key areas of FinTech. Artificial intellige ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ghana
Ghana (; tw, Gaana, ee, Gana), officially the Republic of Ghana, is a country in West Africa. It abuts the Gulf of Guinea and the Atlantic Ocean to the south, sharing borders with Ivory Coast in the west, Burkina Faso in the north, and Togo in the east.Jackson, John G. (2001) ''Introduction to African Civilizations'', Citadel Press, p. 201, . Ghana covers an area of , spanning diverse biomes that range from coastal savannas to tropical rainforests. With nearly 31 million inhabitants (according to 2021 census), Ghana is the List of African countries by population, second-most populous country in West Africa, after Nigeria. The capital and List of cities in Ghana, largest city is Accra; other major cities are Kumasi, Tamale, Ghana, Tamale, and Sekondi-Takoradi. The first permanent state in present-day Ghana was the Bono state of the 11th century. Numerous kingdoms and empires emerged over the centuries, of which the most powerful were the Kingdom of Dagbon in the north and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Emtech (company)
The EmTech (short for "Emerging Technologies") conference, produced by the Massachusetts Institute of Technology's Technology Review magazine, is an annual conference highlighting invention and new developments in engineering and technology. Started in 1999, the 2011 conference is planned for October 18–19 at MIT. Emtech is also organised in different regions such as in Europe, MENA, Latin America, Asia Pacific, China and India. In addition to two days of presentations, the conference highlights the winners of the annual TR35 award, recognizing the world's top 35 innovators under the age of 35. Some of the most famous winners of the award include Larry Page and Sergey Brin (creators of Google), Mark Zuckerberg (creator of Facebook), Jack Dorsey (creator of Twitter), and Konstantin Novoselov, who later won the Nobel Prize in Physics ) , image = Nobel Prize.png , alt = A golden medallion with an embossed image of a bearded man facing left in profile. To the left ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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