Yesterday, the Bank of Ghana announced it signed a contract with Germany’s Giesecke+Devrient (G+D) Currency Technology to commence a pilot of Ghana’s retail central bank digital currency (CBDC), the e-Cedi.
The Bank of Ghana is already quite advanced in its CBDC research. As its central bank Governor, Dr. Ernest Addison, explained in June, Ghana’s approach is divided into three stages. These are a design phase, an implementation stage and a pilot phase.
The implementation phase is where G+D will adapt its CBDC solution for Ghana’s requirements. The digital currency will be piloted across a diverse user group to test its functionality.
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