Director of the Center for Coin Liberty Nathaniel Dwamena has argued that blockchain technology could be Ghana’s future in fighting corruption, combating voter fraud and kickstarting development in all sectors of our economy.
Speaking at the inaugural launch of the Institute of Liberty and Policy Innovation’s newly created center, he said blockchain could increase the fairness and efficiency of government systems while reducing opportunities for corruption.
According to him, technology has the potential to improve the transparency and disclosure of procurement processes, as well as the investments that can be lost through corruption.
He went on to say that blockchain could be explored by different industries, pointing out that it could be used for elections, just like in the presidential election in the United States (Utah county), South Korea , among others.
He said the system could also be used to address the challenge of overvoting, double counting and other electoral irregularities.
Nathaniel Dwamena said that blockchain will promote accountability, transparency and fairness in terms of the execution of government projects.
In the real estate sector, he said we can explore blockchain for land registration and manage asset transfers, regulatory obligations and financial transactions.
“It allows instant and secure transfer of ownership. This improves transparency with smart contracts,” he added.
Regarding social enterprises, he said that blockchain could help reduce poverty, eliminate intermediaries (goro boys) and also ensure financial inclusion.
The center was established to focus on achieving impact by influencing public policy for the integration of blockchain solutions for the development and readiness for the use of blockchain and decentralized solutions in Ghana and Africa .
The center is part of the policy think tank Institute for Liberty and Policy Innovation (ILAPI).