Ghana’s crypto stamps celebrate the King’s Silver Jubilee
Ghana's National Postal Service is making the King's 25th coronation anniversary immortalized on the blockchain.
Ghana Post has released a new set of stamps “Crypto Stamp” in honor of His Excellency Otumfuo Osei Tutu II. The Crypto Stamp Collection honors the King's 25 years of contribution to Ghana's development and cultural integrity.
Reflecting this mix of traditional values and new-age technology, physical crypto stamps are linked to non-native tokens (NFT) that can be verified on the blockchain.
Read this Cointelegraph crypto guide to learn more about how NFTs work.
According to the listing, the crypto stamps are limited to 7,200 pieces and cost $18 (250 Ghanaian cedis) per stamp.
When attempting to make a purchase, the website was unable to provide any information regarding shipping costs to international destinations.
When making a purchase, users must manually link to their digital twin on the blockchain to claim their exclusivity. Physical stamps come with an integrated Near Field Communication (NFC) chip to help with this pairing.
“With a simple smartphone scan, collectors can verify the stamp's authenticity in real time, with each scan generating a unique one-time verification message that protects against hacking and counterfeiting.
The crypto stamp is the most expensive stamp set offered by Ghana Post, with others costing less than half the price of its crypto counterpart. However, the store currently offers a one-to-one gold frame stamp priced at $7,200 (100,000 cedis).
Ghana has become the first African country to issue an NFT-based stamp set.
Related: Nigeria Launches First Multilingual Large Language Model in Africa
The South African Reserve Bank has recently decided to improve efforts to regulate and accept cryptocurrencies and central bank digital currency (CBDC).
Read Cointelegraph's guide to learn more about CBDCs.
The roadmap outlines high-level plans to increase access to financial technology, modernize payment infrastructure and remove barriers to use. The scope of the scheme is strictly domestic.
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