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African Internet Pioneer: Bitcoin Can Help Grow a Cashless Society in Ghana

Last Updated March 4, 2021 4:52 PM
Francisco Memoria
Last Updated March 4, 2021 4:52 PM

Nii Narku Quaynor, seen as “father of the internet in Africa” and chairman of IT solutions firm Ghana Dot Com (GDC), says bitcoin can help create a cashless society in Ghana, according to African publican ItwebAfrica.

At the 3rd Ghana e-Commerce Conference and Exhibition, Quaynor claimed the country has a mature e-commerce economy and stressed that it is necessary to intensity engagement and collaboration for the industry to thrive in Ghana.

Bitcoin was introduced in Ghana back in February 2016, as a part of a plan to promote a cashless society in Ghana. According to Quaynor, digital money is better than mobile money or credits cards, as digital money is designed to be faster and used in cyber environments, under the owner’s control.

According to the organizer of an event themed “Transforming Ghana’s Online Business through Technology, Innovation & Opportunity”, the country’s e-commerce industry has been growing rapidly, and with the introduction of alternative payments it is poised to boom.

The organizer, quoting the Bank of Ghana’s Payment Systems Department, said that even though over 70% of Ghana’s population is unbanked, mobile money transaction reached 679 million cedis ($171 million) by the end of June 2016. a 20% increase from 2015. The figure is expected to double by 2018.

Previous Bitcoin Endeavors

Quaynor’s IT solutions firm Ghana Dot Com has, in the past, launched what it claimed to be the first bitcoin mining facility in Africa. Even though there aren’t a lot of details about the facility, the firm claims it produces “several hundred terahashes per second”.

Earlier this month, GDC ran a blockchain training course  that taught attendees how to develop software solutions using the blockchain. It was designed for programmers and developers working, as well as “technology professionals in the financial services sector”.


In a statement, the African internet pioneer said:

As one of first African computer scientists, we have an interest in seeing the adoption of computing sciences in Africa. We pioneered Internet development and will similarly promote bitcoin development in Africa.


GDC wants to drive cryptocurrency adoption in Africa, as the African internet pioneer believes blockchain technology has the power to change global finance.

Images of Accra, Ghana from Shutterstock.