Ghana Wants to Make Its CBDC Available for Use Offline: Report

Ghana Wants to Make Its CBDC Available for Use Offline: Report
Ghana wants its central bank digital currency (CBDC) to work offline, according to a report from Bloomberg on Monday.CBDCs are digital forms of a jurisdiction’s legal currency and are designed to be available via smartphones. Kwame Oppong, head of fintech and innovation at the Bank of Ghana (BoG), said the country’s digital currency, the e-cedi, would work offline through the use of smart cards, according to the report.Smart cards are physical cards embedded with a chip, similar to modern bank cards.Speaking at the Ghana Economic Forum on Monday, Oppong said that efforts to bring financial services to people without access…