The Federal Government in its bid to increase Information Communication technology( I CT) contribution to the nation’s Gross Domestic Product( gdp) by leveraging on emerging technology has commenced processes to adopt and regulate the use of block chain technology in Nigeria.
Director General, National Information Technology Development Agency, (NITDA), Kashiffu Abdullahi disclosure this at the stakeholders engagement for the review of the National Blockchain Adoption Strategy held in EGovernment Center, Abuja.
Abdullahi while sighting the economic potentials in blockchain technology, said governments commitment to position the country to capture value from the emerging technology which is going to play a key role in terms of trading and tracing products.
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According to him: “It is projected by 2030 China will capture around $467 billion USD from this. Looking at the Nigerian youthful population which is mainly digitally native and our strategic position in Africa we are looking at how to get at least 6 to $10 billion USD from this by the year 2030.
“We have seen the potentials in block Chain technology and we see the need to position our country well so that we can capture value from what blocked chain is going to create.
“There is a recent publication by PWC that said in the next ten years, block chain is going to contribute 1.76 trillion US dollars to the global GDP. therefore we want Nigeria to be strategically placed to capture the economic potential of block chain that is why we are getting all the stakeholders together in one place to brainstorm and come out with a strategy for Nigeria to benefit from this block chain technology
