Security, cost concerns critical for eCedi rollout

The Bank of Ghana's pilot program for the eCedi, the country’s first central bank digital currency (CBDC), highlighted the need for robust security measures and low transaction costs to ensure successful adoption.

While aiming to enhance financial inclusion and modernize payments, the pilot faced challenges related to public trust and fee concerns.

Findings emphasized the importance of extensive public education and collaboration with stakeholders. The pilot demonstrated the viability of offline transactions, particularly in underserved areas, and plans for a cross-border CBDC pilot with Singapore are underway to facilitate trade between SMEs.

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