Reserve

Bank

Silver

Read

Ghana’s national postal service is ensuring that its king’s 25th coronation anniversary will be remembered forever, unaltered, on the blockchain.
Ghana Post released a new stamp collection, “Crypto Stamp,” in honor of His Majesty Otumfuo Osei Tutu II. The crypto stamp collection pays homage to the king’s 25-year-long contribution to Ghana’s development and cultural integrity.
Signaling this blend of traditional values and new-age technology, the physical crypto stamps are linked to unique <a href="https://cointelegraph.com/learn/nonfungible-tokens-how-to-get-started-using-nfts" rel="noopener noreferrer nofollow">nonfungible tokens (NFT)</a> that are verifiable over the blockchain.
Read this Cointelegraph crypto guide to <a href="https://cointelegraph.com/learn/what-are-nfts-and-why-are-they-revolutionizing-the-art-world" rel="noopener noreferrer nofollow">learn more about how NFTs work</a>.
<figure><img src="https://s3.cointelegraph.com/uploads/2024-05/28ccea9c-4bac-4af7-848b-caa8a1b3da57.jpeg" alt="" title="">
 <figcaption style="text-align: center;">Ghana’s new crypto stamp collection. Source: <a href="https://ghanapost.com.gh/otumfuostamp/product/crypto-stamp/" target="_blank" rel="noopener noreferrer nofollow">Ghana Post</a>
 </figcaption>
</figure>
According to the listing, crypto stamps are limited to 7,200 pieces and cost $18 (250 Ghanaian cedi) per stamp.&nbsp;
When attempting to make a purchase, the website failed to provide any information regarding shipping charges for international destinations.
Upon purchase, users need to manually link their physical collectible to its digital twin over the blockchain to claim its exclusivity. The physical stamps come with an integrated near-field communication (NFC) chip to help this pairing.
<blockquote data-ct-non-breakable="true">
 “Through a simple smartphone scan, collectors can verify the stamp’s authenticity in real-time, with each scan generating a unique, one-time authentication message, safeguarding against tampering and counterfeit attempts.”
</blockquote>
Crypto stamp is the most expensive stamp collection the Ghana Post offers, with others costing less than half its crypto counterpart. However, the store currently offers a one-of-one exclusive gold frame stamp that costs roughly $7200 (100,000 cedi).
<figure><img src="https://s3.cointelegraph.com/uploads/2024-05/df757914-349a-43a4-abd6-72ca43450f9c.jpeg" alt="" title="">
 <figcaption style="text-align: center;">Ghana Post’s stamp collections sorted based on price. Source: <a href="https://ghanapost.com.gh/otumfuostamp/product-category/stamps/?orderby=price-desc" target="_blank" rel="noopener noreferrer nofollow">Ghana Post</a>
 </figcaption>
</figure>
Ghana claimed its position as the first African country to introduce a commemorative NFT-based stamp collection.
Related: <a href="https://cointelegraph.com/news/nigeria-launches-first-multilingual-large-language-model-in-africa" rel="noopener noreferrer nofollow">Nigeria launches first multilingual large language model in Africa</a>
The South African Reserve Bank recently decided to amp up efforts toward regulating and <a href="https://cointelegraph.com/news/stablecoin-retail-cbdc-sandboxes-south-african-payments-roadmap" rel="noopener noreferrer nofollow">adopting cryptocurrency and central bank digital currency</a> (CBDC).
Read Cointelegraph’s guide to <a href="https://cointelegraph.com/learn/what-is-a-cbdc-why-central-banks-want-to-get-into-digital-currencies" rel="noopener noreferrer nofollow">learn more about CBDCs</a>.
The roadmap looked at high-level plans to increase the accessibility of financial technology, modernize payment infrastructure and remove barriers to use. The plan’s scope is strictly domestic.
Magazine: <a href="https://cointelegraph.com/magazine/crypto-market-makers-legit-dodgy-fake-it/" rel="noopener noreferrer nofollow">What do crypto market makers actually do? Liquidity, or manipulation</a>

Ghana’s crypto stamps honor king’s Silver Jubilee

Cointelegraph

Other articles published on May 9, 2024

JPMorgan Analysts: Robinhood’s SEC Notice Unlikely to Affect Ethereum ETF Approvals

Cardano’s Price Struggle at Key Levels

L&T Stock (L&T) Declines 4% After Q4 Earnings: Expert Analysis on Whether to Buy, Sell, or Hold

Digital Currency Group Sees Revenue Growth in Early 2024

Solana-based BODEN beats SHIB, PEPE, WIF: Election season impact?

ZKasino Wallet Gets $20M Ether Return Raises Investor Hope

Join our free newsletter for daily crypto updates!