Chief Executive Officer of AyaHQ and Member of the Blockchain Builders Association of Ghana (BBAG), Eric Annan, has emphasized Ghana’s unique opportunity to position itself as a global leader in blockchain technology. He highlighted the transformative potential of blockchain for economic development, innovation, and entrepreneurship in the country.
The blockchain expert and Advocate stated that Ghana’s stable democracy, youthful population, and growing adoption of blockchain technology were identified as key assets in shaping its future.
“With over 1 million Ghanaians already engaged in blockchain and cryptocurrency activities, representing 3% of the population, the country is well-positioned to leverage this technology for economic transformation.” He revealed. Eric Annan noted that blockchain could enable ordinary citizens to create and own value, likening its impact to the evolution of the Internet as the “Internet of Value.”
He further opined that the Blockchain Association of Ghana is calling for a national dialogue involving policymakers, businesses, and civil society to draft a comprehensive policy framework that aims to inspire trust and aspiration while addressing challenges like unemployment and limited access to financial systems.
Mr. Annan underscored the importance of fostering innovation and entrepreneurship through blockchain-based solutions with potential applications spanning various sectors, including finance, agriculture, healthcare, and education, and that by enhancing transparency and efficiency, blockchain technologies could address systemic challenges while creating new opportunities for young entrepreneurs.
The Association emphasized that blockchain adoption in Ghana faces challenges such as limited awareness and regulatory uncertainty, hence the need for progressive policies that incentivize innovation while ensuring public understanding of blockchain’s benefits. Media engagement was highlighted as crucial in reshaping perceptions and educating communities about the technology.
The Hub Manager of AyaHQ, Kwame Stalwart, revealed that the AyaHQ incubation hub supports young entrepreneurs, providing them with the resources and guidance needed to succeed in the competitive blockchain landscape.
He stated that several notable startups have emerged from Ghana’s blockchain ecosystem, showcasing the country’s potential for technological innovation, which includes Sarcasm.ai, I Exchange, and Learn Way App.
Mr. Stalwarrt added that the success of these startups underscores the importance of a supportive policy environment and that a national blockchain policy would provide clarity, attract investment, and foster further innovation.
The association is, therefore, calling on Media outlets, policymakers, entrepreneurs, and educators to harness blockchain’s potential together and that with strategic planning and investment in talent development, Ghana could address pressing economic challenges and establish itself as a global hub for blockchain innovation.