An eight-member delegation from the Stellar Development Foundation (SDF) led by celebrated Hollywood actor, Idris Elba has met with the governor of the Bank of Ghana, Dr. Ernest Addison to discuss a possible collaboration between the two entities that will facilitate compensation in the creative arts industry.
This meeting follows an earlier meeting between Dr. Addison and the Vice President Dr. Mahamudu Bawumia to explore the potential of leveraging crypto networks within the creative industry.
The SDF, a non-profit organization dedicated to leveraging blockchain technology to catalyze economic empowerment, presented an innovative fintech solution designed to revolutionize compensation and financing within the local creative sector. This blockchain-based platform aims to ensure equitable remuneration for Ghanaian creators whose works find global commercialization, thereby addressing prevalent issues such as IP violations and limited access to funding opportunities.
A pivotal aspect of the discussion centered on the potential collaboration between the SDF and the Bank of Ghana to pilot technology and policy innovations aimed at enhancing the administration of intellectual properties and copyrights. By leveraging blockchain’s immutable ledger technology, the proposed solution seeks to empower local content creators while fortifying their rights and financial prospects.
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The choice of Ghana as a pilot country for this initiative stems from the strides made by Ghana’s central bank in digital currency development, notably the eCedi, and its broader embrace of tokenization.
At the meeting, both parties expressed a shared commitment to nurturing the creative industry’s growth, particularly among young people in Ghana.
This collaboration between the Bank of Ghana and the Stellar Development Foundation signifies a promising step towards harnessing technological innovation to foster economic inclusivity and empowerment within the creative sector.
