The Federal Government is set to review the policies governing the implementation of the National Blockchain policy to incorporate new emerging technologies and align with current economic realities.
The review aims to expand blockchain applications to sectors such as ”land registration, health, and education.
The Director General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa, announced the initiative during a three-day co-creation workshop in Abuja.
The workshop, held to validate trends in blockchain technology, also aimed to integrate new stakeholders for a more inclusive adoption and implementation of blockchain.
Inuwa said: ”The review is intended to update the National Blockchain policy to reflect recent technological advancements and economic changes.
”The goal is to ensure the policy is comprehensive and applicable across various sectors, enhancing secure transactions, data sharing, and value exchange between individuals, businesses, and the government.
”Blockchain is a decentralized, publicly accessible digital database that can simultaneously be used and shared within a large network. It has vast applications beyond cryptocurrency, including supply chain management, healthcare, and education.
”The blockchain industry is projected to boost the global economy by $1.7 trillion by 2030”
Inuwa emphasized the need for Nigeria to strategically harness the potential of blockchain technology to drive economic growth.
The workshop highlighted the need to infuse new members into the National Blockchain Policy Steering Committee to ensure a balanced representation from both the public and private sectors.
”This inclusion aims to address past implementation challenges and enhance collaborative efforts,” Inuwa added.
The major highlight of the event was the reconstitution of the National Blockchain Policy Steering Committee.
The committee will oversee the policy’s implementation and ensure alignment with the overall national objectives.
It comprises representatives from relevant government agencies, industry experts, academia, and other stakeholders in the blockchain ecosystem.
Inuwa, represented by the Director of Information, Technology and Infrastructure Solutions, Oladejo Olawuni, stated, “The continuously evolving nature of blockchain technology and its increasingly transformative applications across diverse sectors necessitate a commensurate evolution in our leadership.”
