Ghana To Introduce Crypto Currency E-Cedi

The Governor of the Bank of Ghana, Dr. Ernest Addison has announced at a press conference that the Central Bank is in advanced stages of introducing a digital currency called the E-Cedi. Dr. Addison said cryptocurrencies such as Bitcoin are too volatile to play the function of money hence the need for a state-backed digital currency such as the e-cedi to facilitate transactions within the economy.

The Governor also revealed that the digital currency has gone through the first phase which involved the design of the money. He further noted that the final stage will involve piloting the digital currency to see how feasible it will be.


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