Monrovia, Liberia, March 14th, 2024
The CEO of Gluwa, Tae Oh, paid a visit to the President of Liberia, Joseph Boakai, in Monrovia to discuss potential advancements for the country’s financial and internet infrastructure. Gluwa, a leading innovator in blockchain technology with projects such as Credal, which powers public blockchain infrastructure (source), is currently considering the development of a Central Bank Digital Currency (CBDC) for Liberia. This prospective project would necessitate close collaboration with Liberia’s existing mobile money system, as President Boakai recognizes its vital role in the digital economy of the country.
Meeting with the President of Liberia: A Step Towards Financial Inclusion
The conversation between Tae Oh and President Boakai went beyond the topic of CBDCs. They also addressed one of Liberia’s most significant challenges: its slow internet connectivity, which poses a substantial barrier to digital inclusivity, especially in rural regions. To help tackle this challenge, Gluwa suggested the implementation of a satellite-based Internet Service Provider (ISP) specifically engineered to deliver affordable internet connectivity to rural areas. Moreover, this ISP solution aims to provide the necessary infrastructure for the utilization and accessibility of Liberia’s CBDC system, thereby improving overall digital financial services availability across the nation.
Breaking Barriers: Opportunities for Economic Growth through Technology
Meetings with top officials within African countries represent humbling opportunities for Tae Oh and the Gluwa team to learn more about each government’s dedication towards economic growth and inclusion via technological solutions.
Recent Developments from Gluwa
For more information on Gluwa’s recent announcements, please refer to the following articles:
- Collaboration with the Central Bank of Nigeria for CBDC Adoption
- Meeting with Ghana’s Vice President, Bawumia
About Gluwa
Gluwa is a groundbreaking L1 blockchain platform designed for the documentation and matching of credit transactions. By creating a public ledger that records credit histories and loan performances, Gluwa sets the stage for an era of interoperable cross-chain credit markets. The team at Gluwa collaborates with technology partners and fintech lenders, such as Aella, and engages with financial institutions in global emerging markets to facilitate capital financing, build credit histories, and foster trust among millions of financially underserved individuals and businesses. Gluwa’s Creditcoin framework adheres to the principles of Real World Assets (RWA).
