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Blockchain technology has become one of the most prominent technologies in the past few years, offering extra advanced features like decentralization and hassle-free cross-border payments. A regional media outlet in Ghana reports that the government is planning to use blockchains to reduce crime in the gold.
It is worth noting the government of the nation is planning to establish a tracking ecosystem for gold leveraging blockchain technology.
With this integration of blockchain, the nation aims to reduce the risk of losses in gold due to over-involvement of middlemen.
The plan to use blockchain still awaits the request of the parliament
The acting managing director of Precious Mineral Marketing Company, Sammy Gyamfi, said the plan to leverage blockchain for building a tracking system requires the approval of the parliament of Ghana.
According to available datasets, at least 18% of adults in Ghana own digital assets of some kind, and around 3.1 million of the total population is engaged in crypto.
The capital gain tax over crypto in Ghana is 15%, trading is not banned in the region, but there is still a need for a clear set of rules and regulations for digital assets.
Dozens of nations worldwide have been exploring the potential of blockchain technology with the aim of easing the hassle of storing data in traditional sectors.
Nations already using blockchain for traditional industries
Other than Ghana, Estonia has proved its interest in blockchain and decentralization as it has been involved in such technology since 2012, when it used blockchain to store data of healthcare, judiciary, and security departments.
It is worth noting that the blockchains used by governments of firms are private blockchains that are developed over the request and requirement of the ones seeking it.
On the other hand, the United Arab Emirates remained pro for technologies like blockchain, crypto, and artificial intelligence and has been using self-controlled blockchain for real estate and health records.
And nations like China, the United States, Georgia, Singapore, and the United Kingdom have been using blockchain to ease the load on traditional storage.
In terms of market cap and other features, the blockchain of Ethereum is at the top, followed by the Bitcoin chain, Solana, BNB chain, Tron and Polygon.
The global blockchain market is expected to reach $70 billion by the end of 2032, which was $3.2 billion in 2019; the cap doubled in 2025 as it was $28.170 billion in 2024 and is $45.04 billion.
Crypto market cap has continued to fall, and when writing it was $2.67 trillion with an outflow of 5.67% in the weekly time frame and is down by 13% in the past 30 days.
Bitcoin is exchanging hands at $84,561 with a loss of 1.23% in the past 24 hours, and the prices are below 20, 50, 100, and 200-day exponential moving averages.
