Professor Nii Narku Quaynor, a renowned Ghanaian IT expert and Internet pioneer, is pushing for the adoption of blockchain technology to drive innovation in solving the myriad problems confronting the country today.
At a stakeholders’ forum held in Accra recently, the Ghanaian IT expert cited the Registrar-General’s Department, educational institutions, financial institutions, medical centers, agriculture and government departments and agencies as places the innovation can be employed for maximum effect.
The blockchain is simply a public archive where transactions are recorded and confirmed. It also provides a record of events that is shared between many parties. It can be used to track inventories to reduce losses, and to verify the authenticity of an individual or company etc.
Like many aspects of modern digital technology, the blockchain system allows permanent storage of any amount of information and avails the populace easy access to publicly-held information of an organisation or individual.
These are some of the advantages of the system. The Blockchain Digital Registry Technology has attracted a lot of interest in the business sphere in recent years. The advent of Blockchain and Cryptocurrencies has undoubtedly changed the paradigm of global business transactions.
Today, several large financial institutions and a growing number of businesses are using Blockchain-distributed registry technology as a secure and transparent way to digitally track asset ownership, speed up transactions, reduce costs, and reduce fraud.
Professor Quaynor pioneered the Internet in Ghana and is one of the first computer science PhDs in sub-Saharan Africa. He was instrumental in the development of Africa’s Internet infrastructure; establishing the first Internet connections, founding key organisations, and working with governments and agencies to promote information communications technology.
With such a high pedigree in IT, it would be worthwhile for the country to listen and take his advice. We should count ourselves fortunate to have in our midst someone of such a high calibre offering free consultancy.