Ghana issues e-Cedi design paper

The Bank of Ghana has issued a paper outlining the rationale and design of Ghana’s digital currency,  eCedi. Subsequently, the country will pilot the digital currency, which according to the paper, is a digital version of local paper and coin currencies. The Bank envisions eCedi as the future of payments,  a driver for financial inclusion that will support cashless and cost effective payments.There will be two wallets- hosted wallets managed by financial institutions and hardware wallets held by individuals. The paper also makes the Bank the sole issuer of digital currencies.