Stellar Development Foundation (SDF) recently paid a visit to the Bank of Ghana, led by Dr. Idris Elba, a Hollywood actor, and the SDF Chief Executive Officer, Denelle Dixon. The purpose of the visit was to discuss collaboration to support the creative arts industry.
The SDF is a non-profit organization with the objective of using blockchain to unlock the world’s economic potential by making money more fluid, markets more open, and people more empowered. During their visit, they presented a blockchain-based fintech innovation designed to guarantee fair compensation for participants in the local creative industry and to enhance access to financing for their works.
The innovation aims to address the current challenge of industry players in Africa being locked out of the global payments ecosystem, which has led to violations of their Intellectual Properties (IPs) and copyrights. The discussion also focused on exploring ways to enhance the administration of IPs and copyrights for the benefit of local content creators.
The SDF’s selection of Ghana as a potential pilot country for this innovation was based on the Bank’s advancement in the area of central bank digital currency (the eCedi) and tokenization. Both the Bank of Ghana and the Stellar Development Foundation expressed their commitment to collaborate on this initiative for the long-term benefit of the creative industry, particularly the youth. This marks a significant step towards empowering and supporting the creative arts industry in Ghana.
