Businesses have been urged to take
full advantage of blockchain technologies to transform their operations.
Blockchain
is a system of recording information in a way that makes it difficult or
impossible to change, hack, or cheat the system.
The
President of an American technology firm, VX Technologies, Justin Pauly, who
gave the advise explained that innovative blockchain solutions could create a
safer and more secure digital future for the country as well as advance legacy
storage systems and future-proof the country’s digital infrastructure.
Mr Pauly who gave the advise last
Thursday at a blockchain conference organised by VX Technologies in
collaboration with the American Chamber of Commerce (AMCHAM), Ghana, in Accra
on the theme: Ghana’s Future on Blockchain said, “Many records, including
healthcare documents, education certifications, and professional licenses,
stand to benefit from being on blockchain.
Revenue generation
Mr
Pauly said; “Blockchain innovations generate revenue, lower costs, and provide
special features to governments and businesses. It also reduces the time,
energy, and cost for verification of data authenticity while storing
information permanently and immutably,” he said.
“As a leader in blockchain
technologies in healthcare and education, we are honoured to be leading this
important event in the country. We have pioneered immutable storage and
verification of information on a trusted network to prove the integrity of the
data at any time.
He
noted that the company’s partnership with AMCHAM will bring together government
and business leaders to explore how blockchain solutions will transform the
continent, with Ghana leading the way.
A
Commercial Officer at the United States of America (USA) Embassy in Ghana,
Laurie Kellecher, described the conference which formed part of her outfit’s
effort to bring US information communications technology (ICT) solutions to the
country as an important one.
That
she said is because it came at a critical time to help track the fast-moving
technological developments related to blockchain.
She
said initially, many people were introduced to blockchain technology in the
conteWxt of digital assets like cryptocurrency or central bank digital
currencies.
“Today we are focusing on enterprise
blockchain – which can be defined as a shared, trusted, record of information
held to a group of companies and selected third parties to inspect, but which
no central user controls.
Commercial
and even government applications are rapidly emerging for enterprise blockchain
that range from agricultural product-tracing to CO2/carbon tracking, to
healthcare (tracking trial data, the pharmaceutical supply chain, COVID
vaccinations), and education to name just a few applications. VX Technologies
is a leader in these innovations,” she said.
Ms
Kellecher said the US Embassy Commercial Section looked forward to working with
all to identify uses for enterprise blockchain for businesses or agencies in
the country.
“We
also look forward to helping to connect you with US companies such as VX
Technologies that can provide world class blockchain solutions,” she added.
Opportunity
The
Country Manager for VX Technologies Ghana, Prince Akoto Adepa, said blockchain
was a platform which was topical therefore, developing countries including
Ghana has the chance to take up opportunity to have an emerging technology that
came with security and a lower cost of storing data.
Source: Graphic Online