Blockchain activities in Nigeria have already put the country on a concrete technical foundation. Many experts, therefore, predict that Africa stands to profit more than any nation on the planet from this up-and-coming technology.
It has become evident in the vast directness and balanced approach of Nigerian government towards understanding the intricacies of the ecosystem. The Nigerian government does its best to map out an unbiased equipped environment where the most benefit can be achieved from the Blockchain technology.
The Cryptography Development Initiative of Nigeria (CDIN) is the most significant stakeholder within Blockchain industry that has been working extensively with the Nigerian government. Since 2015, through the Nigerian Blockchain Alliance (NBA), one of its primary organs, CDIN has already been involved in the fight against numerous crypto scams in Nigeria.
The President of CDIN, Adeolu Fadele, in his numerous interviews keeps on saying that the primary purpose of this group is to help Nigerians force the opportunities presented by both digital currency and blockchain. For example, many bitcoin baccarat casinos have already used this perfect opportunity. Eventually, it will move the nation for general development and growth while shielding them from numerous risks.
Fadele also told that CDIN has already played the role of a “precursor organization.” They created consciousness amongst the appropriate government agencies on the call for understanding and responding to the troublesome nature of the global digital revolution without stifling innovation.
“We are very proud to say that the welcoming regulatory environment enjoyed by the Nigerian Blockchain and digital currency ecosystem could be partly attributed to our early engagements with law enforcement agents and the policymakers. We have worked in collaboration with the commercial banks, the Nigerian Police Force, and the Nigeria Electronic Fraud Forum to fight cryptocurrency scammers,” NAIJ Nigeria cites Fadele.
The group will also organize the Nigeria Blockchain Alliance Conference to team up all private establishments, national institutions, businesses, professionals, the general public, and global partners. The conference will undoubtedly discourage crime, create awareness, defend consumers and release new job and business opportunities in the most populated country in Africa.
Tech Hub Company is another group that has been working together with the Nigerian government in boosting Blockchain development in Nigeria.
The Founder of Tech Hub, Samuel Benedict, told that his company’s principal objective is to give Blockchain-driven solutions to Nigeria.
In particular, Benedict tells the following: “Our key mission is to bring pragmatic Blockchain solutions to the access of Africans. So far, every day we receive plenty of positive feedback from the Nigerian government. Presently, we have a couple of meetings with the ministry of communication and technology. Moreover, we keep on negotiating with First Bank of Nigeria Plc to present an ATM card system. It will be undoubtedly linked to wallets for users to have straight fiat currency withdrawals.”
According to Samuel Benedict, the Blockchain industry is up-and-coming in Nigeria. Several talented startups have already started to build services on Blockchain. “The larger Nigerian population requires more Blockchain education beyond just cryptocurrency and to learn how to stay away from possible scams,” concluded the Founder of Tech Hub.