Ghana’s central bank digital currency (CBDC), the eCedi has won the Innovation in Digital Currency Design award at this year’s Payment, Innovation and Technology Awards in London.
The awards forms part of the Payment, Innovation and Technology Week organised by Currency Research, an independent leading global provider of premium conferences for central banks, regulators, payment operators and other key companies regarding the subjects of cash and payments.
The eCedi emerged as a winner particularly because it is designed to drive financial inclusion.
A statement from BoG said “The award was on account of the Bank’s compelling demonstration of the eCedi’s design elements, encompassing governance, accessibility, (online and offline), interoperability, and infrastructure with the potential to promote financial inclusion.”
The award was also in recognition of the Bank’s ecosystem engagement approach, which included the participation of banks and payment service providers during the eCedi pilot, eCedi Hackathon, which invited the public to demonstrate their innovative ideas using the eCedi and a live trial experience of the eCedi during the 3iAfrica Summit where participants were able to make payments for goods and services at the 3i Africa Summit Digital Village.
Meanwhile, BoG has completed the eCedi piloting, and the Governor, Dr. Ernest Addison has said that the central bank will continue to monitor the economic environment and determine an optimal time for the launch of the eCedi into full operations.
