Ghana To Introduce Blockchain to Curb Gold Smuggling
- The Ghanaian government is launching a blockchain-based gold tracking system to combat illegal gold exports.
- This initiative could recover an estimated $2 billion annually lost to gold smuggling.
- The blockchain system will track every transaction in the gold supply chain for accountability.
The introduction of a blockchain-based tracking system in Ghana's gold sector is a significant step towards enhancing transparency and accountability. This initiative not only aims to curb illegal activities but also has the potential to stabilize the economy by increasing state revenue. However, the success of this system will depend on effective implementation and the cooperation of all stakeholders involved.
