UNIDO Program Provides Feasibility For Blockchain in Africa

  • Ghana is seeking ways to acquire blockchain technology to enhance their development.
  • The United Nations Industrial Development Organization (UNIDO) and Global Quality and Standards Project (GQSP) in Ghana are looking comfortable with this idea and ultimately supporting to adopt blockchain technology.

People see an impressive scope in Blockchain due to its data storing mechanism and the way it conducts its operation. In a recent event in Ghana, Blockchain was a hot topic as people want to adopt it and improve quality standards.

Juan Pablo Davila, UNIDO Manager, Stated,

Blockchain technology is aimed at securely storing and sharing information on transactions across a network. He also stated that one of the biggest advantages of having the Blockchain mechanism is its sharing nature; users can monitor data at any stage without any hindrance. Users will have strong and reliable attributes.  

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UNIDO Manager also added that

” Blockchain has the potential to provide accurate real-time data related to many sectors like transportation, quality of goods, and safety  “

Global retailers and chocolate producers in the world are inserted to ensure the sustainable provenance of their ingredients, and they can provide proper funding to the farmers. With the help of the Blockchain and its transparency, everyone will have complete knowledge about the transaction step by step. This can provide a very clear knowledge to everyone who is dealing with the others and is accountable for that particular thing.

Safoa Osei, Ghana Chief Technical Advisor, expressed, “The fact-finding mission is the first milestone for the application of the Blockchain in the cocoa value chain in Ghana. It will lay down the foundation for the next steps of its implantation.

For the last 12 years, the pair of UNIDO and SECO has been providing technical support to Ghana. The most remarkable project is The Trade Capacity Building Projects(TCB/2007-2018). This project was a major game-changer as it expands Ghana’s exports and also helped in building a well-mannered infrastructure system. The GQSP Ghana builds upon the results of the TCB project and continues to support the strengthening of the quality of the cocoa, cashew, and oil palm value chains.

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Vasu Singhal
Vasu Singhal is a management student and a stock market trader. He believes that investment avenues and opportunities are very diversified. Therefore, he has an interest in blockchain technology too. He likes to evaluate best investments available in the financial market with showcasing the required skills.

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