IS GHANA READY FOR THE BLOCK CHAIN TECHNOLOGY?

With the new technology that has heated global conversations for over a year now, where can we put our developing nations? Are we truly ready for the changing world? How can we also take a grip of this newly produced technology to solve a problem of problems?

On the 17th of February 2018, the Hackathon info-session was held at the premises of ISpace Foundation at Labone to discuss these important questions and how the nation can work together to solve their own problems. This is a response to the excessive dependence of citizens on government to solve all problems.

Block chain as defined by the authors of Block chain Revolution is “an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.” Basically, this technology keeps information as it is – the database is not stored at one single location which means that records kept will be actually public and easily confirmable.

Mr. Papa Kow Bartels, of the Ministry of Trade, geared the young minds in the Hackathon teams to learn how to move ahead than the government. It is their role now to use the block chain technology to help the government solve their 10 goals.

There are several problems including poverty,  food security, and human settlement, addressing enterprise development, education sectors and several others that can be solved with the use of technology. Mr. Bartels enforced on the local experts finding bankable solutions that can help the government in solving these problems.

The structure of industries in Ghana is highly dominated by services (83%) of which retail and wholesale champion with 53%. It is saddening that agriculture which is the backbone of the Ghanaian economy has remained history and currently non-existing in the structure of industries. The remaining 17% is made up of  small scale industries such as the corn milling industry and several others.

It came as a shock to the whole Hackathon teams that several enterprises that are responsible for electrical supply are non-existing in the Ghanaian industry. This rings an alarm for several young Hackathon members to start brainstorming on how they can steer up Ghana’s industrial technology through the use of the currently induced block chain technology.

This new technology has been made available to everyone. Thus, it is our responsibility to solve a lot of our problems using block chain technologies and in order to better the country.

By Maureen Molly Basemera and Pearl Abbam

 

 

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