An Experts in Cryptocurrency and Chief Executive Director of NIKGROUP, International Limited, Nick Owusu Chief Executive of NIKGROUP INTERNATIONAL LIMITED, Nick Owusu has advised government and the private sector to replace the Country’s current economic system with the blockchain Technology.
He said the current system produces more debt than money needed to refund and does not augur well for the economic prospects for a developing country like Ghana. He Cited the country’s current public debt stock of about GHC 159.4 billion (One Hundred and Fifty Nine Point Four Billion Cedis) as at September this year.
Mr. Owusu who is also a renowned Public Speaker indicated that pragmatic effort needs to be adopted by Stakeholders and Policymakers to turn around the fortunes of the economy.
“The Blockchain Technology will be a force to reckon with, to set the country free from debt and any implications that come with it” He said his Outfit, NIKGROUP INTERNATIONAL LIMITED, will On October 25, 2018, at 9:00 am at the Marriot in Accra, hold a Blockchain Summit on the theme “The Impact of Blockchain on Businesses for National Development”
The Blockchain Summit he observed is the biggest opportunity for companies controlling Ghana’s capital market such as financial and investment experts, bankers, insurance brokers, and forex traders, chief executive officers, real estate developers, the private and government officials to explore the dynamics of the new revolution.
He said Seasoned Speakers from both local and International repute, Industry players, Policymakers as well as key players in Ghana’s financial sector will speak to the issue of Blockchain while demystifying its concept for accelerated development.
“Blockchain is a decentralized system of encrypting information. It is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value. 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” Mr. Owusu Observed.
He said the technology is able to detect any financial mishap. It can also detect the authenticity of any items or data added to the system. Smart contracts are promised with the Blockchain technology as there is always control the transfer of digital assets between parties.
Topics to be discussed at the summit will include, the introduction to Blockchain; uses and application of Blockchain; Bitcoins, its history, present and future; alternative coin offerings; basics to Cryptocurrency trading; and emerging opportunities in the Blockchain space for Africa among others.