Cases of corruption and people amassing wealth for themselves both in the public and public sector of most countries particularly Africa continue to persist. Perpetrators easily escape punishment due to ineffective mechanisms and systems to trace them. Africa and for that matter, Ghana has had to contend with the loss of state funds through the manipulation of documents, payroll fraud, fake licensing, illegal transactions, abuse of contracts and office among others.
While successive governments continue to fight this canker, authorities mandated by law to assist the government in tracking and monitoring contracts and the disbursement of funds for procurement purposes have not lived up to their task. This is because; they are mostly saddled with both logistical and administrative challenges
Thanks to technology, a system to curb this anomaly has been introduced. A new revolution, called the BLOCKCHAIN is a decentralized system of encrypting information. It uses a digitalized signature called the harsh system which makes it difficult to manipulate data. The system can only be altered or updated through a consensus, which will require alteration of all subsequent records and even the collusion of the entire network.
Industry leaders, as well as countries who have explored this distinct revolution, have achieved significant benefits including enhanced transparency, enhanced security, improved traceability, effective monitoring, increased efficiency and speed. As well as reduced cost on all transactions.
Given the benefits of the revolution to the development of Ghana’s economy, NIK GROUP INTERNATIONAL LIMITED a consulting firm in Ghana will on the 25th of October 2018 at 9 am, hold a BLOCKCHAIN SUMMIT at the Marriott Hotel in Accra.
The summit which is dubbed “ The Impact of Blockchain on Businesses and National Development seeks to engage experts from industry and academia , policymakers , as well as key players in Ghana’s financial sector, to speak to individuals and companies controlling the capital markets in the country such as, financial and investment experts, Bankers, Insurance Brokers and Forex traders, Chief Executive Officers, Government Officials, young professionals among others, on how to adapt and explore this new technology, to transform Ghana’s Economy for accelerated development.
Topics such as
- The introduction to Blockchain
- Uses and application of Blockchain
- Bitcoins, its history, present, and future
- Alternative coin offerings
- Basics to cryptocurrency Trading
- Emerging opportunities in the Blockchain space for Africa
And other areas will be discussed at the Summit through panel discussions.
NIK GROUP INTERNATIONAL LIMITED is confident that the Summit will not only bring sanity into the system but will help bridge the financial gap between Ghana and the developed world as Ghana positions herself to embrace this new technology.