The government is launching a blockchain-based gold tracking system, according to the PMMC’s acting managing director.

Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.

The Acting Managing Director of the Precious Minerals Marketing Company (PMMC), Sammy Gyamfi, has stated that the government is introducing a blockchain-based gold tracking system as part of its ongoing efforts to restructure the gold sector and curb illegal exports.

Speaking in an interview on JoyNews and monitored by GhanaWeb Business, Sammy Gyamfi said the technology-driven approach is tied to the Gold Board Bill currently before Parliament.

The bill proposes the creation of a new Gold Board which would take charge of buying gold from small-scale miners, regulating pricing, and preventing smuggling.

Source: newsthemegh.com