The Chief Executive Director of NIKGROUP INTERNATIONAL LIMITED, Nick Owusu has unveiled significant benefits of the Blockchain Technology to Industry. He said industry plays a critical role in the development of every country and all resources and mechanisms needed to make it thrive must be adopted.
Mr. Owusu who is also an expert in cryptocurrency said countries and industry leaders who have adapted to the Blockchain revolution have attained significant success including enhanced transparency, enhanced security, improved traceability, effective monitoring, increased efficiency, and speed. As well as reduced cost on all transactions.
The Blockchain network he said, is a virtual public ledger that records everything in a secure and transparent manner. The Blockchain allows the free transfer of data through a decentralized environment in an interlinked network of computers, owned and run by the users themselves.
“The Blockchain Technology can be used for more than just keeping track of cryptocurrency transactions but and a handful of companies are seeking ways to incorporate the Blockchain into their businesses to enhance productivity. He said Ghana cannot be left out of this great Opportunity.
Mr. Owusu cited Educational, Health, Marine, Agriculture, legal, Real estate, banking, science and technology, Agriculture Energy, among other key sectors of the economy to benefit from this revolution.
In the Health sector, Mr. Owusu stressed that the Blockchain technology would revolutionize medical record keeping, by giving individuals the opportunity to own their Medical records. “Patients can easily access their own personal medical records without having to contact any doctors or queuing for consultation.
The Blockchain technologies will make it possible for banks to track up to date transactions between members of staff and the general public, Money laundering activities as well as loan defaulters and be tracked. It will also speed up the transactional process and makes an international transaction instantaneous.
Issues of land litigation he said, will be a thing of the past as the system will track all processes relating to the sale of land. Multiple sales of lands and falsification of land records will be prevented. The challenges in land acquisition and registration will be resolved.
The CEO NIKGROUP INTERNATIONAL LIMITED, Nick Owusu said his outfit will on the 26th of this month at 9: am at the Holiday Inn Hotel in Accra, hold a Blockchain Summit. He said the Summit will bring together Blockchain Experts from both local and international community 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.
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.
Mr. Owusu indicated that all the sectors of the economy stand to benefit from the new revolution. He called on government official’s individuals and institutions to patronize the Blockchain Summit to strengthen the Country’s economy.