BoG eCedi wins innovation in digital currency design award

The Bank of Ghana has been adjudged the winner of the Innovation in Digital Currency Design for Financial Inclusion by Currency Research.

This occurred at the 2024 Payment, Innovation and Technology Week.

The award was on account of the Central Bank’s compelling demonstration of the eCedi’s design elements, encompassing governance, accessibility, (online and offline), interoperability, and infrastructure with the potential to promote financial inclusion.

The award was also in recognition of the BoG’s ecosystem engagement approach.

This included the participation of banks and payment service providers during the eCedi pilot; the  eCedi Hackathon, which invited the public to demonstrate their innovative ideas using the eCedi; and the live trial experience of the eCedi during the 3iAfrica Summit where participants were able to make payments for goods and services at the 3i Africa Summit Digital Village.

The 2024 Payment, Innovation and Technology Week was held in London, United Kingdom.

The Currency Research is an independent leading global provider of premium conferences for central banks, regulators, payment operators and other key companies regarding the subjects of cash and payments.

It aims at stimulating and encouraging thoughtful discussions to achieve global change. In addition to conferences, it also specialises in the provision of consultancy services and trainings on cash and payments and complements these activities with its thought-provoking publications and industry reports.

On the other hand, the Payments, Innovation and Technology Week was aimed at exploring trends and research in digital currency use and Artificial Intelligence (AI) Applications for central banks