A Unified front means growth for Blockchain in Ghana.

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A Unified front means growth for Blockchain in Ghana.

eBitcoinics News 11 Nov, 2019 news.eBitcoinics.com Views: 494

As we are celebrating the 11th year since bitcoin was announced. Many are seeking to still understand what the blockchain technology is all about.

In most parts of Africa, it is still not clear the number of citizens who are in the known of what the technology is and its uses.

The technology’s growing acceptance is one of the major hurdle people who are found associated with it are seeking to break and win. Lack of acceptance is also one of the major threats to the technology’s use in the country.

Bitcoin had been the leading name when cryptocurrency is referred to in Ghana it is better to get the citizenry well informed and also to understand further.

Speaking to Frank Nii Okanta Ankrah CEO of ClicxAds and a major player in the space here in Ghana, he outlined a series of issues that disturb the growth of Cryptocurrency he said;
One main factor that hinders acceptance in Ghana is Unity. The crypto community is so much divided, it is divided into groups and factions without a single voice.

We all know this clearly that to grow we need all stakeholders to come together under one umbrella. The country is so much aware of what cryptocurrencies/blockchain can do to its economy, yet without a single front to help fight for better policies and regulations to support its use we shall surely end up lagging in the stage.

I can liken it to Nigeria, Uganda, Kenya, and South Africa this countries with unity had made calls and had succeeded in gaining close to clear cut policies or are helping in acquiring legitimate policies to govern the technology and its related businesses.

Currently, to run a successful crypto-related project in Ghana one is required to make Ghc 20 Million amongst other fees just to gain an operation license. This makes it so much impossible for a startup to gain such a license.

A nation seeking to develop needs to embrace new techs which are touted to disrupt the day to day activities of life, but when governments seek to fight in such a way makes it so hard for industry players to tap into the vast opportunities therein. Whether we like it or not the technology is going to disrupt the financial sector and other sectors as well.

The topic is very sensitive and it needs to be taken in total consideration, Bitcoin’s usage in the country had been growing but it does not make it a project from Ghana. Recently Nawaf Abd was asking for clear cut policies and acts that will make grow the use and acceptance of the tech in our land.
Just some weeks ago the Chinese government had gone ahead to announce its plans around the blockchain technology. It is about to apply the tech in various aspects of their economy.
The government will never allow the tech to be disruptive but here lies the power in the people to push and advocate for clear cut regulations which will support the growth of the technology and its usage in the country.

I hereby call on all the groups to come up in unity so we can gain the necessary attention needed to grow.
Blockchain I know is well been used in several aspects in this country to change lives and to better the living conditions of those who come by it. It is a running technology and will never wait for anyone.

We also need to come together so we can fish out scammers and Ponzi schemes that want to grow by taking advantage of the disunity in the space to scam newbies from their hard-earned cash, this only is the reason for which we can be sure we fought well.

We all know one of the major contentions between America now and Facebook is because of Libra, the American Senate is looking for ways to stop the creation of Libra which they feel will threaten their supremacy. Yet they also are applauding him for taking on such initiative, and they had even suggested the creation of their stable coin called the FEDNOW.

This alone must be a wakeup call to the powers that be in Ghana. But if they are not forthcoming this is the right time for the people in the ecosystem to rally around and garner support to bring out a clear cut solution to these canker.

Blockchain is here to stay and nations who tap into it will be seen as a forward-thinking one, this is the right time to get the job done and it cannot be done by one group, it can only be done by everyone in the space.

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