Advancements in Blockchain Technology to Combat Corruption: Insights from Bawumia

Vice President Bawumia Advocates for Blockchain Technology to Combat Corruption in Ghana

Vice President Dr. Mahamudu Bawumia has emphasized the importance of blockchain technology in the fight against corruption in Ghana. Speaking at the 14th Regional Conference and Annual General Meeting of Heads of Anti-Corruption Agencies in Commonwealth Africa in Accra, Bawumia highlighted the potential of blockchain technology to promote transparency and accountability in governance.

Blockchain technology, known for its ability to detect and record any alterations in digital data, provides a transparent and traceable record of transactions. Bawumia believes that this advancement could revolutionize the fight against corruption in Ghana and save the country billions of dollars lost due to corruption, bad governance, mismanagement, and lack of accountability.

With Ghana currently facing a debt crisis and economic challenges, ensuring accountability and preventing the misappropriation of public funds is crucial to stabilizing the economy. Bawumia pointed out that the automation features of blockchain technology could play a significant role in addressing these issues and promoting good governance.

In addition to advocating for blockchain technology, Bawumia highlighted the digital initiatives implemented by the Ghanaian government since 2017. These initiatives include the ghana.gov portal, which has enabled the government to collect GH¢201 billion electronically since 2020. The digitization of passport acquisition processes has also led to a significant increase in applications and revenues for the Passport Office.

Furthermore, the integration of public sector databases using the GhanaCard has helped identify and remove ‘ghost’ pensioners from the public sector payroll, resulting in substantial annual savings for the country. By leveraging the unique identity card, the GhanaCard, the government was able to identify and eliminate ghost names on the National Service Scheme payroll, further saving millions of Ghanaian cedis.

Bawumia urged Anti-Corruption Agencies across Africa to invest in digital forensics and tools to track, trace, and disrupt the corruption value chain effectively. He also emphasized the importance of introducing the Central Bank Digital Currency (CBDC), or e-Cedi, to enhance Ghana’s ability to fight corruption more efficiently.

As Ghana continues its efforts to combat corruption and promote transparency, the integration of blockchain technology and digital initiatives could play a crucial role in achieving these goals. Vice President Bawumia’s advocacy for technological solutions underscores the government’s commitment to addressing corruption and improving governance in the country.