Ghana Post, the national postal service for the West African nation, is honoring Asantehene Otumfuo Nana Osei Tutu II, ceremonial ruler of the Ashanti people, with a “Crypto Stamp” to commemorate his 25-year reign.
The physical stamp, which costs $18 or 250 Ghanaian cedi, comes with a near-field communication (NFC) device that, when scanned with a smartphone, gives the owner access to the stamp’s digital twin: a non-fungible token stored on the blockchain. The use of the NFC device discourages fakes and counterfeits.
There are just 7,200 of these stamps available, making this a collector’s item. Ghana’s Minister of Communications and Digitalisation praised the postal service, saying the stamps reflect the nation’s “identity” and are a merge between “traditional values” and the “wild anticipations” of the future.
His Majesty Otumfuo Nana Osei Tutu II ascended to the throne in April 1999 and was one of seven “presumptive heirs” eligible to become the next ruler. By name, he is in direct succession of the 17th-century founder of the Ashanti Empire. In 2019, he received the “Pillar of Peace Award” for his role resolving a crisis in the Kingdom of Dagbon.
The Crypto Stamp from Ghana Post is the first-of-its-kind in Africa. While international collectors can seemingly buy the stamp, the Ghana Post website did not reveal the charges for international shipping.
Ghana Ranks No. 9 in Worldwide Crypto Adoption
According to Finder.com, Ghana ranks No. 9 in crypto adoption out of the 27 countries the company surveyed. 17% of adults in the nation own cryptocurrency, a higher percentage than many developed nations like the United States and Japan.
Of the 17% Ghanaian adults who said they owned crypto, 70% were between the ages of 18 and 34, with the number dropping sharply in older age groups. That indicates, like in many African nations, it’s the youth who are adopting crypto as part of their wealth-building strategies.
Ghana has been beset with economic problems since the 2019 Coronavirus Pandemic, with inflation at 32% in July 2022. In the country, there is an interest in U.S. dollar-pegged stablecoins such as Tether and USDC rather than traditional cryptocurrencies, which may be more volatile.
In addition, the country has seen real-world use cases for blockchain technology. One company operating in Ghana, Bitland, uses the blockchain to help citizens obtain land rights and secure a better financial future.
Currently, the nation of 34 million people has no regulations for the crypto industry, although the country’s Central Bank (Bank of Ghana) has warned people of risks of holding crypto assets. According to reports, the Bank of Ghana is planning to launch a Central Bank Digital Currency (the eCedi), though no date for launch has been given.
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