Nigerian Minister of Communications links blockchain to national digital innovation efforts

At the annual Digital Africa Conference on Wednesday, Nigeria’s Minister of Communications and Digital Economy, Isa Pantami, identified blockchain as part of the government’s focus on emerging technologies. report From the Voice of Nigeria.

Highlighting the theme of the conference-“Building a New Africa with Artificial Intelligence and Blockchain”-Pantami said that the government is working hard to establish an innovation center.

According to Pantami, these innovation centers will explore capacity-building agreements in areas such as artificial intelligence, the Internet of Things, robotics, cloud computing, and blockchain technology.

The Minister of Communications stated in his speech that this move is part of an effort to promote an innovation-driven culture in Nigeria, adding:

“We are also actively preparing to apply blockchain technology to our digital economy, and we recently formulated a national blockchain adoption strategy.”

As early as October 2020, Nigeria’s National Information Technology Development Agency (NITDA) released a draft of the blockchain strategy framework. The document includes a six-point agenda for the use of new technologies, including a national digital identity and regulatory sandbox for pilot implementation.

At the meeting, NITDA Director General Kashifu Inuwa stated that Nigeria can become a growth driver for artificial intelligence and blockchain in Africa. In November 2020, Inuba stated that the country can produce up to By 2030, blockchain revenue will reach 10 billion U.S. dollars.

Pantami’s department has been the first to implement a mandatory national identity program in the country, which has caused major controversy over the mandatory association of phone numbers with national ID data.

related: Nigeria hopes that the blockchain will generate $10B of revenue by 2030

While addressing privacy and data security issues, the minister’s speech did not mention the possible use of blockchain in the field of secure storage of national ID records.

As early as February, Nigerian Vice President Yemi Osinbajo stated that cryptocurrency and blockchain will Transform Nigeria’s financial landscape. After the Vice President made a comment, Central bank ban, Prohibiting financial institutions from providing services to cryptocurrency exchanges.