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Nigeria is poised to become a leader in Blockchain, as government invites collaboration with businesses and investors.
Blockchain, Africa, Nigeria, Regulation
Blockchain awareness in Africa is on the rise as governments and stakeholders are collaborating to enhance proper understanding and education on the fundamentals and implementation of the technology.
On Aug. 4, the Central Bank of Nigeria (CBN) published a notice inviting stakeholders to a meeting where they will discuss “Virtual currencies as a medium of exchange in Nigeria.”
The notice reads:
“The Central Bank of Nigeria has commissioned a study on ‘Virtual Currency as an Emerging Medium of Exchange.’ To achieve the objectives of the study, there is need for stakeholders meeting to brainstorm and exchange ideas with a view to gathering relevant information on the nature, scope and dynamics of virtual currency operations in Nigeria. This would provide input into the report of the committee.”
The meeting is slated to be held on Aug. 10 at the CBN Headquarters Auditorium in the nation’s capital.
The invitation specifically requests the participation of industry leaders in areas of virtual currency operations such as exchanges, wallet providers, miners, software developers and individual investors.
Incidentally, this event comes up just days before the first Blockchain conference in Nigeria which is hosted by Blockchain Nigeria User Group and Blockchain Education Network (Nigeria).
According to the Coordinator of Blockchain Nigeria User Group, Chimezie Chuta:
"The Conference will bring together enthusiasts, practitioners, entrepreneurs, startups and software developers playing in the Blockchain and Virtual Currency community, under one roof.”
Chuta says that the purpose of the conference is to spur a wave of startups in the Blockchain and Digital Currency ecosystem in Nigeria and also enable organizations that are interested in leveraging digital currency revolution as an alternative in an economy struggling to get out of recession.
Nigeria appears eager to embrace Blockchain technology in order to spur its own technological and economic development. The conference will feature experts such as:
The Central Bank Nigeria's (CBN) Committee on "The Study of Virtual Currency as an Emerging Medium of Exchange" will participate as panelists and observers.
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