Ghana’s digital cedi must emulate cryptocurrencies, Afroblocks states

The latest central bank digital currency (CBDC) initiative from the Bank of Ghana (BoG) has been met with skepticism as Afroblocks, an in-house independent association, speculates the lack of clarity on the central bank’s intentions.  Afroblocks (previously Blockchain Society Ghana) has warned the BoG to steer away from “old traditional siloed financial thinking” while planning and developing its digital currency. Rather, Afroblocks co-founder Omar Majdoub said that the success of a CBDC in Ghana will be in its ability to emulate modern-day cryptocurrencies — i.e., being borderless and decentralized.