In the company’s latest foray across the continent, Gluwa’s CEO, Tae Oh, paid a courtesy visit to the Vice President of Ghana, Mahamudu Bawumia, to discuss technological opportunities within the country for improving financial inclusivity.
Gluwa took the opportunity to discuss the ongoing development of Ghana’s Central Bank Digital Currency (CBDC) with the Ghanaian Vice President, Mahamudu Bawumia.
🇬🇭 CBDC | The #eCedi is Token-based and Built on the Hedera Hashgraph Network, Says Bank of Ghana
Hedera Hashgraph is a blockchain network seeking to serve as a platform on which anyone can transact and deploy applications, but where a group of businesses oversee the software.… pic.twitter.com/hTIxMkGWBm
— BitKE (@BitcoinKE) October 24, 2023
In addition to providing support for the development and adoption of its CBDC, Gluwa also introduced its latest technological solution, a satellite-based Internet Service Provider (ISP) designed to expand digital access across Africa.
“The complementary integration of CBDCs with a satellite-based ISP aims to increase financial access within Ghana and provide a robust foundation for expanding both digital and financial economic opportunities within the country.”
Ghanaian officials have been adamant that the eCedi should be usable by all and sundry including having the ability to enhance financial inclusion in rural areas. Part of THE pilot studies for the eCedi have included an offline experiment, testing the applicability of the eCedi in situations where internet connectivity may be limited or unreliable.
eCedi to Boost Financial Inclusion in Rural Areas with an Offline Solution, Says Bank of Ghana 🇬🇭
84% of Ghanaians have stable electricity but just 53% have internet access. The applicability of the eCedi was tested in situations where internet connectivity may be limited or…
— BitKE (@BitcoinKE) May 25, 2023
The company recently entered into an agreement with the Central Bank of Nigeria to help drive increased adoption of the eNaira central bank digital currency (CBDC). Under that partnership, Gluwa will integrate its Credal technology into the eNaira platform. The intention is to facilitate the establishment of ‘credit reputations’ for eNaira users, thereby advancing financial inclusion.
🇳🇬PARTNERSHIP | Central Bank of Nigeria Partners with Blockchain Solutions Provider, Gluwa, to Integrate Credit Rating Tech to e-Naira CBDC
Gluwa, a blockchain-based financial platform that has been operational in Nigeria for several years, will integrate its Credal technology… pic.twitter.com/JrvTOEuM13
— BitKE (@BitcoinKE) March 8, 2024
The company is also said to be investigating the potential of developing a Central Bank Digital Currency (CBDC) for Liberia.
“Gluwa’s CEO Tae Oh’s meetings with top officials within African countries serve as humbling opportunities to learn more about each government’s commitment to economic growth and inclusion through technological solutions,” the company said.
President of Liberia 🇱🇷, Joseph Boakai, pictured with Tae Oh, Gluwa CEO, @taelimoh, and Akin Jones, Director of @Gluwa https://t.co/3jVVMwLYfQ pic.twitter.com/ThI2H85Rpf
— BitKE (@BitcoinKE) March 18, 2024
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