A delegation comprising eight members from the Stellar Development Foundation (SDF), headed by Hollywood actor Dr. Idris Elba and SDF CEO Denelle Dixon, conducted a courtesy meeting with Dr. Ernest Addison, Governor of the Bank of Ghana, on Thursday, February 16, 2024.
The non-profit organization, dedicated to leveraging blockchain to enhance global economic potential by promoting financial fluidity, open markets, and individual empowerment, introduced a fintech innovation based on blockchain.
The innovation aims to ensure equitable compensation for participants in the local creative industry, whose works are globally commercialized. Additionally, it seeks to improve access to funding, particularly for emerging creators, through the implementation of smart contracts.
This initiative addresses the existing challenge faced by many industry players in Africa who are excluded from the global payments ecosystem, resulting in severe violations of their intellectual properties (IPs) and copyrights.
It also addresses the inability to access funding for growth or retrieve legitimate earnings from the worldwide commercial use of their works.
The discussion also delved into the exploration of technology and policy innovations to enhance intellectual property (IP) and copyright administration for the benefit of local content creators.
The delegation highlighted Ghana as a potential pilot country for this innovation due to the Bank’s advancements in central bank digital currency (the eCedi) and tokenization.
Both the Bank of Ghana and the Stellar Development Foundation expressed their commitment to a long-term collaboration on this initiative, particularly for the benefit of the youth in the creative industry.
