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Blockchain technology is a key to economic transformation

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The Founder of the Blockchain Builders Association of Ghana (BBAG), Eric Annan has stated that blockchain technology, an advanced database mechanism that allows transparent information sharing within a business network, will be an instrument for Ghana’s transformation.

To him, blockchain is a key for unlocking global financial tools, and enabling the agile young minds to create borderless value.

Mr. Annan explained that blockchain is a revolutionary technology as it helps reduce security risks, stamp out fraud and bring transparency in a scalable way.

He said that there is a need for political parties to articulate their vision to harness blockchain technology in Ghana.

Mr. Annan, in an interview with the press, opined that in a world propelled by innovation, daring to dream requires courage, a situation that underpinned the formation of the Association.

To this, he have advocated for continuous dialogue with stakeholders in Ghana to foster a deeper understanding and initiate the formulation of essential policies, regulations, and safeguards to spark rapid innovation.

Mr. Annan hinted that BBAG is a registered association within Ghanaian law of a capable founding team sharing a unified vision to position Ghana as a pioneering hub for blockchain utilization, development, and talent cultivation to address human needs.

According to him, even though political discourse around blockchain technology remains minimal in the Ghanaian media, it commands significant attention in forums like the United States Congress, media outlets, and the global economy.

Notably, Blackrock, the world’s largest fund manager, recently obtained a license to trade Bitcoin, with others such as Ethereum awaiting regulatory approvals.

To this, he argued that it is imperative for a country like Ghana to leapfrog and position itself as an early adopter, shaping the narrative and driving progress in this transformative field.

To him, this transformative technology has empowered countless Ghanaian youths to serve as community managers, podcast hosts, developers, content writers, educators, traders, ambassadors, and more, enriching our society in ways that are immeasurable.

He has therefore appealed to the Ghanaian media to play a pivotal role in advancing constructive content to educate the society about the importance and potential of blockchain technology through fostering informed discussions and awareness.

The BBAG Founder is of the view that Africa stands to gain immensely from innovations such as Decentralized Identities (DIDs), Real-World Asset Tokenization (RWSTs), and Decentralized Physical Infrastructure Network (DePIN).

Mr. Annan mentioned that in an effort to create an enabling environment, warding off malicious actors and fostering radical change to benefit the Ghanaian economy, his outfit has aligned with other sister associations across Africa, the United States, India, and beyond.

He stated that, the mission of BBAG is to spearhead policy dialogue among stakeholders, regulators, consumers, and protocol builders to dispel widespread misinformation on the relevance of blockchain beyond cryptocurrency.

The Founder of BBAG further emphasized that his outfit has members with diverse expertise and experience and further welcome visionary individuals in law, regulations, policy advocacy, technology, entrepreneurs, community leaders, and more to join.

He mentioned other member communities and organizations, such as Sovereign Frontier, Ayahq, and Cryptority who have demonstrated measurable success in advancing blockchain technology in Ghana.

The BBAG boss therefore called on all interested stakeholders for an open engagement to share knowledge, and insights with the goal to arrive at a fully level playing field and build a collaborative network of innovators, educators, policy framers, and creators to drive positive change and progress in Ghana’s blockchain ecosystem.

Counting on some success chalked just under seven months of the formation of the Association, he hinted that over 100 young minds have been equipped with blockchain skills through intensive bootcamps.

Others include the hosting of three impactful events in collaboration with global partners, including the Ethereum Foundation, Base Decentralized Developer Meetup, and Stellar Foundation Ecosystem Meetup, all held in Accra.

The Association has further extended its outreach efforts to Kwame Nkrumah University of Science and Technology and Garden City University College, featuring global infrastructure leads from Optimism.

 

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