YAFO Institute, an independent public policy research organisation—or think tank—with the core aim of promoting libertarian ideas and free enterprise research, has organised a training program dubbed ‘Decentralised Business Empowerment.’
The training initiative formed part of efforts by the Institute to empower and build the capacity of micro, small, and medium enterprise owners, entrepreneurs, start-up founders, and blockchain enthusiasts.
It was to help them understand, implement, and utilise decentralised technology to ensure that small businesses can operate more efficiently and effectively and take advantage of the African Continental Free Trade Agreement.
President of Yafo Institute, Nathaniel Dwamena, who served as facilitator for the training in an interview with Rainbow Radio’s Boshyeba, said the core objective of the training offered participants practical ways to sustain their business by leveraging decentralised technology (blockchain) to reduce operational expenses and avoid double taxation for business growth and expansion.
He stated that Yafo Institute’s focus is on the business world, and they have realised that most individuals’ capital is being eroded, while the cost of doing business is also high, having a negative impact on business owners.
He said these were the reasons why they undertook the training ‘’that will help businesses to use these technologies—blockchain technology and stable currencies—to reduce their business costs and even their business operations and even the cost of setting up payment systems for your business. If your payment system is taking so much cost from your profits, it is very important to switch to using blockchain avenues so that the transaction cost will be much less.
It is also instantaneous compared to those that take weeks or months. With the blockchain, cryptocurrency, and stablecoin, you are able to store your assets even in the blockchain. It secures your business investment against the rising inflation in the country at all times. You realise that business individuals are going to be at par with the inflation and will not erode their business capital”, he added.
Some of the participants expressed satisfaction with the training program and commended the institute.
About YAFO Institute
YAFO Institute is an independent public policy research organisation—or think tank—with the core aim of promoting libertarian ideas and free enterprise research through public policy debate and advocacy for a free and prosperous society in Ghana. YAFO Institute also undertakes activities that empower, train, and inspire students, entrepreneurs, and young professionals to create for themselves a prosperous, free, and better regulatory environment.
YAFO has, over the years, collaborated with numerous institutions and think tanks in Africa and the world at large to foster and develop potentials to create a niche of prosperity. The YAFO Institute is the winner of the Atlas Network 2024 Africa Think Tank Shark Tank Award in Tanzania. The YAFO Institute is a nonprofit—section 8 of Company Acts (Act 992)—nonpartisan organisation that conducts research and education on the value of liberty and free market enterprise.
By: Rainbowradioonline.com/Ghana
