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Ghana Is Launching A New Digital Currency Called The E-Cedi – Here's What You Need To Know

Ghana has just announced that it’s launching a new digital currency called the e-cedi. But this isn’t like your typical cryptocurrency — this is actually something quite different. According to Dr. Ernest Addison, the governor of the country’s central bank, the new proposed digital currency will go into effect after three pilot stages confirm it to be a positive thing to introduce into the local economy. “The Bank of Ghana was one of the first African Central Banks to declare that we were working on a digital currency looking at the concept of an e-cedi,” Dr. Addison said at a news conference in Accra. Currently, the e-cedi has completed the first phase of the process where the design has been made and finalized by a centralized committee. Right now, the digital currency is in a limited implementation phase, meaning that some online transactions will accept the digital currency if it’s applied to the payment. Dr. Addision said that the Central Bank of Ghana will then determine,...