The Federal Government is set to review policies governing the implementation of the National Blockchain policy.
Jerrymusa.com reports that the National Information Technology Development Agency (NITDA) has announced a review of the National Blockchain Policy to incorporate new emerging technologies and economic realities. The review aims to expand the policy’s reach to land registration, health, and education sectors.
NITDA Director General, Kashifu Inuwa, made the announcement at a three-day co-creation workshop in Abuja. The workshop aimed to validate trends in blockchain technology and incorporate new stakeholders for inclusive adoption and implementation.
The Blockchain Technology
Blockchain technology is a digital database that can be simultaneously used and shared within a large decentralized, publicly accessible network.
The government approved the policy last year to support secure transactions, data sharing, and value exchange between people, businesses, and the government. However, due to recent innovations, the policy is scheduled for review.
Inuwa emphasized the vast evolution of digital technology and its increasingly transformative applications, highlighting the imperative to harness its dynamic potential.
He noted that the industry is projected to boost the global economy by $1.7 trillion by 2030, and Nigeria must strategically capitalize on the potential offerings.
The workshop’s objective is to review and validate the implementation policy and plan for the national blockchain policy initially developed last year.
The committee comprises representatives from relevant government agencies, industry experts, academia, and other stakeholders involved in the blockchain ecosystem.
The reconstitution of the National Blockchain Policy Steering Committee was the major highlight of the event, tasked with overseeing the implementation of the policy and ensuring its alignment with the overall goals and objectives.