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Business News of Saturday, 9 October 2021

Source: GNA

Build capacity for adoption of Blockchain Technology - UCC Lecturer

The lecturer says Blockchain technology needs to be taught from High School to Varsity levels The lecturer says Blockchain technology needs to be taught from High School to Varsity levels

Mr Isaac Armah-Mensah, a Computer Lecturer at the University of Cape Coast has called on educational institutions to build the human capacity for the adoption of the Blockchain technology.

“African educational institutions need to build capacity and introduce Blockchain technology into the school curriculum right from the Senior High School to the University level,” he said.

Mr Armah-Mensah was speaking at the 2021 virtual 4th Ghana Blockchain Conference on the theme: “Mainstreaming Blockchain for digital transformation.”

It was organised by Ghana Blockchain Network with support from Mobile Web Ghana, Ghana Dot Com, and Bank of Ghana.

The Conference is to deepen the multi-stakeholder approach to governance of Blockchain and engage the community to balance innovation and regulation.

Blockchain is a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system.

It is essentially a digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on the Blockchain.

The technology allows a secure way for individuals to deal directly with each other, without an intermediary like a government, bank, or a third party.

Mr Armah-Mensah said Blockchain was a technology that the Universities could take advantage of in terms of certificate fraud, where they could authentic their documents to avoid manipulation.

“Universities management can keep their documents recorded safely on this Blockchain technology,” he added.

The Lecturer said the technology had come at the right time to enhance the quality of teaching and learning.

Madam Ophelia Oni, a Consultant with the United Nations Capital Development Fund, speaking on Finance, Business, Trade, and Africa Continental Free Trade Area (AfCFTA) said the technology would be a game changer for the financial institutions regarding credit worthiness of SMEs.

“The potential of the technology is great for the continent,” she said and called on service providers, policy makers, and stakeholders not to leave anyone behind in the implementation of the technology.