COUNTRY FOCUS : GHANA
offer flexible services to the business and corporate sector . Guaranteeing maximum uptime and reliability , the facility currently has 170 , 3kW and 5kW racks and a pod of 50 racks available for individual clients wanting to share infrastructure and reduce costs .
Particular attention has been paid to ensuring uninterrupted power supply to the facility . He explained that currently , 67 % of the energy requirements is generated through solar powered technology .
As a Tier IV , enterprise class facility , Onix Data Centre offers stable , reliable , and uninterrupted service with an annual expected uptime of 99.995 %. As a colocation facility , clients benefit from world class cooling systems , fire suppression systems and back up energy redundancy with minimal costs compared to building and maintaining an in-house data facility .
Additionally , the data centre in Accra has an onsite solar farm of 726kWp , providing enough daytime energy to run the entire facility , ensuring that Onix maintains their responsible sustainability policy and mitigate against their impact on the climate .
That collaboration is key to validating the market needs , testing technical capabilities , educating stakeholders and ensuring private sector alignment , prior to introducing a final solution .
EMTECH ’ s Beyond Cash solution was designed as a Web3-enabled Digital Cash Infrastructure that not only can interoperate with established payment rails , but that newer financial products can be safely built on and with . As Central Bank Digital Currency enters the deployment phase for many central banks , more are exploring their strategy to bring a digital version of central bank money in the era of Fintech , Open Banking , Web3 and AI .
As a foundation , EMTECH ’ s Digital Cash Infrastructure is designed to make cash accessible , interoperable and trusted in this era . In order to deliver on the goals of financial inclusion and access , it is a unique opportunity for the future currency infrastructures to leverage new technologies such as APIs , distributed ledgers , smart contracts and tokenization that further foster innovation of products that will ultimately be easy , low cost and faster for businesses and consumers .
In the last quarter of 2023 , EMTECH , a modern central banking infrastructure company , successfully delivered a 12-week CBDC Hackathon as a strategic pilot for the Bank of Ghana . This is the company ’ s latest technical partnership with Bank of Ghana , following the deployment of its Digital Regulatory Sandbox .
Announced on October 3 , 2023 at the Money & DeFI Summit by the Bank of Ghana , the eCedi Hackathon has emerged as a historic flagship CBDC innovation challenge driven by the Bank of Ghana , showcasing how a central bank can collaborate with the innovation , banking and fintech ecosystems , while driving its own innovation .
The initiative successfully brought together developers , banks , fintech innovators and the Bank of Ghana to pilot how EMTECH ’ s tokenized CBDC solution could achieve key objectives and be used in use cases relevant to the Ghanaian market such as merchant payments , government payments , lending , crowdfunding , transparent taxation . With partners such as West Africa , Ghana Fintech Association , HBAR Foundation and KPMG , the effort was deemed groundbreaking in many ways .
After receiving 88 applications , the BoG ultimately selected 10 participants who onboarded a dedicated hackathon platform , received Institutional Wallets and 1,000 BYDC-eCedi tokens from the BoG to prototype various solutions . They were then granted access to pre-built BYDC-eCedi APIs which eased the technical integration as well as standardized how and who can create wallets for end users or how to transact with the tokens .
All transactions were performed using Hedera ’ s token and public ledger services that used a ERC-20 token standard and delivered transparency in transactions with privacy of a user ’ s information .
EMTECH is building the next generation API-First Central-Banking Infrastructure . EMTECH provides software , data and services that connect central banks to other regulators and financial services providers . Our platforms power regulatory data exchange , currency issuance and currency movement in financial markets . p
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