Idris Elba Collaborates With Bank of Ghana To Empower Creative Arts

 

On Thursday, 16th February 2024, a high-profile meeting took place between Dr. Ernest Addison, the Governor of Bank of Ghana, and a delegation from the Stellar Development Foundation (SDF), a non-profit organization that aims to use blockchain technology to create a more inclusive and prosperous world. The delegation was led by none other than the famous Hollywood actor and producer, Dr. Idris Elba, who is also the SDF's global ambassador, and the SDF's CEO, Denelle Dixon.

The purpose of the meeting was to introduce a blockchain-based fintech innovation that could revolutionize the creative arts industry in Ghana and beyond. The innovation is a smart contract platform that enables fair and transparent payments for creators and artists, whose works are distributed and consumed globally. The platform also facilitates access to financing for their works, especially for emerging talents, through peer-to-peer lending and crowdfunding.

The SDF's innovation addresses a major challenge that many creative industry players in Africa face: the lack of integration with the global payments ecosystem, which results in the loss of revenue, the violation of intellectual property rights, and the difficulty of obtaining funding for growth. By using blockchain technology, the SDF's innovation ensures that creators and artists receive their rightful compensation for their works, regardless of where they are located or where their works are used. It also enables them to leverage their works as collateral for loans or as incentives for donations, without intermediaries or fees.

The meeting also explored the possibility of piloting the SDF's innovation in Ghana, as the country has shown leadership and innovation in the area of central bank digital currency (the eCedi) and tokenization. The Bank of Ghana and the SDF agreed to collaborate on this initiative, which could have a significant impact on the creative arts industry, especially for the youth, who make up a large proportion of the sector. The initiative could also boost the country's economy, culture, and social development.