The government of Ghana has signed a Memorandum of Understanding (MoU) with the International Business Machines Corporation (IBM) to support the Ministry of Lands and Natural Resources to use cutting-edge technology for efficient service delivery in the land sector.
The MoU, would witness IBM engineers and technicians supporting public institutions in Ghana to apply blockchain technology in port logistics, improve transparency, information sharing and reduce fraud.
Blockchain technology is a digital ledger in which transactions are recorded chronologically and publicly. This technology ensures transparency and authenticity in transactions.
Vice President Dr Mahamudu Bawumia and the United States Secretary of Commerce, Ambassador Wilbur Ross witnessed the official signing of the MoU at the Accra Marriot Hotel during the Ghana-US Business Forum on Thursday.
Mr John Peter Amewu, the Minister of Lands and Natural Resources initialled for the Government of Ghana, while Madam Angela Kyerematen-Jimoh, the Country Director of IBM-Ghana, signed on behalf of her company.
Mr Takreem EL-Tahomey, the General Manager of IBM in charge of the Middle East and Africa, who witnessed the signing ceremony, said IBM was in talks with the government to ensure a smooth take-off of the Blockchain technology in Ghana.
He said the IBM would collaborate with the Ministry of Lands and Natural Resources to ensure that a White Paper is issued for the implementation plan.
IBM is an American multinational technology company headquartered in Armonk, New York, United States, with operations in over 170 countries.
The Akufo-Addo-led government on assumption of office had adopted technology to overcome information challenges and to build a database as an information ecosystem for economic management.
The government instituted some policy interventions intended to create the fiscal space to implement growth-enhancing initiatives and pursued a deliberate path of building institutional reforms through digitization and use of electronic platforms.
It rolled-out programmes such as the online business registration, certification and licence renewals, ongoing issuance of the national identification cards, digital address system and the establishment of credit referencing bureau with concomitant effects on the cost of credit, mobile money interoperability system to fast-track economic growth.
IBM has demonstrated competence in the field of information technology, banking and services industry.