Ghana is a west African country with an area of 239,500 square kilometers and a population of 28 million people. Ghana has one of the fastest growing economies in the word. Ghana has a rich resource base that includes petroleum and precious metals, plus a developed industrial sector that produces automobiles and electronics. The Ghanaian economy, if properly improved in property rights and market transparency, could become the strongest in Africa. There is no certainty about the position of Bitcoin in Ghana. Ghana has no Bitcoin regulation; however, trading Bitcoin is not legal, as it is yet to be recognized as a form of currency. All mediums of exchange in Ghana should be approved by the Bank of Ghana and Bitcoin’s status is under consideration. The central bank of Ghana issued Bitcoin-related warnings which cautioned the public on the use of it and related risks.
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Data clearly suggests a link between Bitcoin’s price volatility and global Google searches for the top crypto.
Whenever Bitcoin Prices Go Up or Down, Google Searches Soar
Ghana is maintaining a cautious approach to cryptocurrencies despite its central bank’s plans to launch a CBDC pilot in 2020.
Ghana Joins the Bandwagon — Plans for CBDC, Still Wary of Crypto
Ghana is exploring a central bank digital currency “with the possibility of issuing” an e-cedi in the near future.
Ghana Exploring Digitized National Currency, Says Central Bank Exec
Time Magazine has put a blockchain startup from Ghana in its “Genius Companies” list for 2018, along with such companies as Apple, Netflix and SpaceX.
Time Magazine Includes Blockchain Startup in Its 50 ‘Genius Companies 2018’ List
Bitcoin and blockchain tech are ripe for mainstream adoption in Africa, where the population is well positioned to embrace the innovative technologies.
Banks and Cryptocurrencies Global Evaluation: Africa
Only three cryptocurrencies are in green as of 08:00 GMT. The carnage is brutal like the Rwanda Massacre some 27 years ago.
Despite Black Tuesday At Crypto Markets, Some Experts Say It’s Best Time To Buy