{"id":84159,"date":"2024-07-17T10:04:00","date_gmt":"2024-07-17T14:04:00","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=84159"},"modified":"2024-07-17T10:04:03","modified_gmt":"2024-07-17T14:04:03","slug":"nigeria-starts-reviewing-blockchain-technology-policy","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/nigeria-starts-reviewing-blockchain-technology-policy\/","title":{"rendered":"Nigeria Starts Reviewing Blockchain Technology Policy"},"content":{"rendered":"\n

The evaluation of the policies governing the Nigeria Blockchain Technology Policy<\/a> implementation commenced on July 17, as confirmed by the Chairman of the committee<\/p>\n\n\n\n

\"Nigeria
Nigeria Starts Reviewing Blockchain Technology Policy<\/figcaption><\/figure>\n\n\n\n

Chuta announced on the X social platform that the Steering Committee has commenced reevaluating the country's national blockchain policy implementation policies.<\/p>\n\n\n\n

Revision of the blockchain policy<\/h2>\n\n\n\n

The National Blockchain Policy Steering Committee (NBPSC) was restructured by the National Information Technology Development Agency\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> (NITDA) in Nigeria on Tuesday, May 21, as part of a three-day co-creation workshop in the nation's capital, Abuja. <\/p>\n\n\n\n

The seminar aimed to reassess and refine the regulatory framework governing the nation's blockchain strategy.<\/p>\n\n\n\n

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The implementation work of the Nigeria Blockchain Technology Policy effectively begins today. I\u2019m honored to serve as the Chairman of the Steering Committee.
Technology is the biggest enabler I know!
Dear blockchain community, we only have one country.
Let\u2019s make it great again. pic.twitter.com\/HzkD2hE3UA<\/use><\/svg><\/span><\/a><\/p>— Chimezie Chuta (@ChimezieChuta) July 17, 2024<\/use><\/svg><\/span><\/a><\/blockquote>

Kashifu Inuwa, the Director-General of NITDA, has stated that the committee's restructuring will leverage the knowledge of seasoned professionals and renowned thought leaders in the blockchain industry. <\/p>\n\n\n\n

To effectively implement the National Blockchain Policy, their collective insights will be instrumental in developing a comprehensive strategy.<\/p>\n\n\n\n

The reassessment aims to expand its scope to include the land registration, healthcare, and education sectors and incorporate cutting-edge technologies and evolving economic landscapes<\/a>. Nigeria's public and private sectors will benefit from the policy's implementation.<\/p>\n\n\n\n

The National Blockchain Policy, adopted in May 2023, is designed to establish a blockchain-driven economic framework that enables the efficient exchange of value, seamless data sharing, and trusted transactions among individuals, businesses, and government agencies.<\/p>\n\n\n\n

Nigeria Adopts Blockchain Technology<\/h2>\n\n\n\n

Industry stakeholders in Nigeria's blockchain and fintech sectors have urged the government to establish supportive regulations to facilitate the national blockchain policy's widespread adoption and effective implementation.<\/p>\n\n\n\n

Nigeria has demonstrated a growing interest in blockchain technology through its policies and support. NITDA recently disclosed its intention to establish specialized research centers strategically situated throughout the country's six geopolitical zones and exclusively dedicated to cutting-edge technologies such as blockchain and artificial intelligence.<\/p>\n\n\n\n

The research institutes will focus on strategic areas, including drone technology, blockchain innovation, additive manufacturing, artificial intelligence<\/a>, robotic engineering, and connected devices, to drive advancements and applications in these fields.<\/p>\n\n\n\n

NITDA also intends to establish a blockchain ecosystem, “Nigerium,” to enhance national security and preserve data control. However, stakeholders emphasize that the project's success is contingent upon the following:<\/p>\n\n\n\n