{"id":84013,"date":"2024-07-12T12:18:51","date_gmt":"2024-07-12T16:18:51","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=84013"},"modified":"2024-07-12T12:19:00","modified_gmt":"2024-07-12T16:19:00","slug":"nigerias-blockchain-growth-depends-on-local-talent-experts","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/nigerias-blockchain-growth-depends-on-local-talent-experts\/","title":{"rendered":"Nigeria\u2019s Blockchain Growth Depends on Local Talent – Experts"},"content":{"rendered":"\n

Local experts in Nigeria believe the country's local talents will help develop its blockchain future<\/a> rather than adopting a foreign blockchain.<\/p>\n\n\n\n

\"Nigeria\u2019s
Nigeria\u2019s Blockchain Growth Depends on Local Talent – Experts<\/figcaption><\/figure>\n\n\n\n

Nigerian blockchain and data specialists have provided their perspectives on the National Information Technology Development Agency's (NITDA) initiative to create an indigenous blockchain known as “Nigerium.”<\/p>\n\n\n\n

This ambitious undertaking aims to enhance national security and guarantee data sovereignty. Nevertheless, stakeholders emphasize that the Nigerium initiative must be indigenous, utilizing the country's local talent and addressing fundamental infrastructure and policy challenges.<\/p>\n\n\n\n

Local leadership in the Nigerium initiative<\/h2>\n\n\n\n

Nathaniel Luz, CEO of Flincap, a platform for African over-the-counter crypto exchanges, underscored the significance of having Nigerian experts lead the Nigerium initiative in a statement shared with Cointelegraph.<\/p>\n\n\n\n

He thinks Nigeria can construct such a project from the ground up, emphasizing that Nigerians have been at the forefront of significant global blockchain initiatives.<\/p>\n\n\n\n

\n

\u201cIf you\u2019re talking about data security and national integrity, you cannot be outsourcing that to some foreigners.\u201d<\/em><\/p>\n<\/blockquote>\n\n\n\n

Nevertheless, Luz advised against neglecting the critical foundational stages, as skipping them could result in substantial complications, as evidenced by the eNaira central bank digital currency project\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>. He emphasized the necessity of a strong infrastructure to facilitate the endeavor, including reliable electricity and data centers.<\/p>\n\n\n\n

Luz emphasized the necessity of enhancing Nigeria's data storage capabilities, as most of the country's data is stored with large technology companies outside the country. “To ensure the functionality of these systems, we require the fundamentals of all fundamentals\u2014electricity and fundamental policies,” he elaborated.<\/p>\n\n\n\n

Required methodologies for data acquisition<\/h2>\n\n\n\n

Obinna Uzoije, a data expert with Africa Policy Conversations, commended NITDA's efforts but emphasized addressing Nigeria's inadequate data collection practices.<\/p>\n\n\n\n

“He emphasized that Nigeria's failure to incorporate data collection as a critical component of state capacity is a substantial obstacle that necessitates resolution.” <\/p>\n\n\n\n

Uzoije emphasized that the absence of precise and dependable data has resulted in discrepancies, impeding the utilization of data-driven insights for research and development.<\/p>\n\n\n\n

Uzoije underscored the developing nature of data analysis as a profession in Nigeria, asserting that businesses and individuals must acknowledge the significance of data acquisition and analysis to stimulate economic growth and innovation.<\/p>\n\n\n\n

Nigeria desires to integrate blockchain technology more extensively into its infrastructure. The NITDA reorganized the National Blockchain Policy Steering Committee in May to reevaluate the policies that govern the implementation of the country's National Blockchain Policy<\/a>.<\/p>\n\n\n\n

Nigeria has recently disclosed its intention to establish research centers throughout its six geopolitical zones, emphasizing emerging technologies like blockchain and the Internet of Things.<\/p>\n","protected":false},"excerpt":{"rendered":"

Local experts in Nigeria believe the country’s local talents will help develop its blockchain future rather than adopting a foreign blockchain. Nigerian blockchain and data specialists have provided their perspectives on the National Information Technology Development Agency’s (NITDA) initiative to create an indigenous blockchain known as “Nigerium.” This ambitious undertaking aims to enhance national security […]<\/p>\n","protected":false},"author":12,"featured_media":6982,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[350,20470,15644],"class_list":["post-84013","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-nigeria","tag-nigerium","tag-nitda"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/08\/Crypto-adoption-rises-in-Nigeria-despite-the-government-crackdown.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/84013","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=84013"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/84013\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/6982"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=84013"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=84013"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=84013"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}