The Ghanaian central bank said it will be hosting a 12-week hackathon where participants are expected to explore the e-cedi’s nine different use cases. At the end of the hackathon, the central bank will hold a conference where individuals with outstanding solutions are recognized.
Bank of Ghana Launches Hackathon to Explore Various Use Cases of CBDC
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Addressing Ghana’s Financial Inclusion Challenges
The Ghanaian central bank, also known as Bank of Ghana (BOG), recently announced the launch of a central bank digital currency ( CBDC) hackathon. According to the bank, this event seeks to avail opportunities to fintech startups, developers and innovators to develop innovative solutions that explore various use cases of CBDC.
https://t.co/bvOB6EsBoW#eCedi #hackathon #bankofghana pic.twitter.com/KOGqPwBrGT
— Bank of Ghana (@thebankofghana) October 6, 2023
In a press release jointly issued with technology partner Emtech, the Ghanaian central bank said the hackathon will run for a period of 12 weeks. During this time, innovators are expected to come up with solutions that address financial inclusion challenges. At the end of the hackathon, a conference where outstanding solutions are recognized will be held.
Real Life Use Cases
Explaining why this method of discovering the best solutions was chosen, the BOG said:
“The project is a part of the e-cedi research project and presents an opportunity for the Bank to explore emerging technologies, foster creativity and contribute to the advancement of the e-cedi development.”
Meanwhile, the Ghanaian central bank stated that individuals and teams with a passion for the technology are eligible to join the hackathon. Among the nine use cases that the BOG wants developers and innovators to focus on is the use of the e-cedi in merchant transactions. Other use cases include using the e-cedi for government payments and inbound remittances.
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