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If you're an artist in Ghana, you may soon be able to get paid fairly for your work.
That's because actor Idris Elba is working with the country's central bank to create a payment system based on blockchain, the Guardian reports.
The Stellar Development Foundation, a non-profit founded by Elba, last week announced that it had met with the Bank of Ghana to discuss the possibility of using the central bank's digital currency, the eCedi, to pay artists and others in the creative industry based on their works, per the BBC.
The idea is to create a payment system "designed to guarantee fair compensation for participants in the local creative industry, whose works are commercialised globally, and to enhance access to financing for their works," the foundation said in a statement.
"This will address the current challenge of most industry players in Africa being locked out of the global payments ecosystem, leading to gross violations of their Intellectual Properties (IPs) and copyrights, inability to access funding opportunities for growth or worse still, realize funds that are legitimately earned via commercial use of their works around the world," the statement added. Read the Entire Article
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