A delegation comprising eight members from the Stellar Development Foundation (SDF), led by Hollywood actor Dr. Idris Elba and SDF CEO Denelle Dixon, recently met with Dr. Ernest Addison, Governor of the Bank of Ghana, in a courtesy visit.
The SDF, a non-profit organization aiming to leverage blockchain technology to unlock global economic potential, presented a blockchain-based fintech innovation during the meeting. This innovation is designed to ensure fair compensation for participants in the local creative industry, particularly those whose works are commercialized globally. The objective is to enhance access to financing for creators, especially emerging artists, through the use of smart contracts.
The discussion also centred on exploring opportunities for piloting technology and policy innovations to improve the administration of intellectual properties (IPs) and copyrights for the benefit of local content creators. Ghana was selected as a potential pilot country for this initiative due to the Bank of Ghana's advancements in Central Bank digital currency initiatives (such as the eCedi) and tokenization efforts.
Both the Bank of Ghana and the Stellar Development Foundation expressed their commitment to collaborating on this initiative for the long-term benefit of the creative industry, particularly the youth.
