Ghana Post Honors Monarch with Blockchain-based 'Crypto Stamp' Collection
Summary:
Ghana Post, the national postal service of Ghana, commemorates the 25th coronation anniversary of their monarch with the release of a "Crypto Stamp" collection. The collection, which blends tradition with new-age technology, involves physical stamps paired with unique nonfungible tokens (NFTs) that can be authenticated on the blockchain. Limited to 7200 pieces, each stamp costs $18. Ghana emerges as the first African country to introduce an NFT-based stamp collection, situating itself in the evolving digital landscape.
The Ghanaian national postal organization is commemorating the 25th coronation anniversary of their monarch, Otumfuo Osei Tutu II, by immortalizing it on the blockchain with the release of a stamp collection named "Crypto Stamp." Paying tribute to the king's quarter-century commitment to the development and preservation of Ghanaian culture, these physical crypto stamps are paired with unique nonfungible tokens (NFTs) that can be verified on the blockchain.
Featuring the new crypto stamp collection, Ghana Post has confirmed it is limited to 7200 stamps priced at $18 (250 Ghanaian cedi) each. However, there were no details about international delivery charges when attempting to purchase.
Buyers are required to connect their physical stamp to its digital counterpart on the blockchain to confirm its exclusivity. The stamps are equipped with an integrated near-field communication (NFC) chip for ease of pairing. In order to verify the authenticity of the stamp, collectors can perform a simple scan with their smartphones, with each scan producing a unique authentication message to protect against forgery and counterfeiting.
Costing significantly more than other offerings, the Crypto stamps are the priciest in Ghana Post's catalogue; other collections are priced lower by more than half. An exclusive gold frame stamp, however, listed as a one-of-one item, is currently priced around $7200 (100,000 cedi).
Ghana has distinguished itself as the first country in Africa to present a commemorative NFT-based stamp collection. Concurrently, the South African Reserve Bank is taking steps to regulate and adopt both cryptocurrency and central bank digital currencies (CBDCs).
The bank's roadmap outlines strategies to improve the accessibility of financial technology, upgrade payment structures, and eliminate usage barriers, focusing solely on domestic implementation.
Published At
5/9/2024 1:42:33 PM
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