Nigeria Unveils Blockchain Policy to Lead Global Adoption
Nigeria is taking a significant step towards global blockchain leadership with its new national policy. The 'Co-Creating a Roadmap for Blockchain in Nigeria' white paper aims to position the country as a co-leader in blockchain adoption, moving beyond simply following trends. The policy focuses on finance, agriculture, and digital identity, sectors where blockchain can have a substantial impact.
The white paper aligns blockchain adoption with Nigeria's broader digital transformation goals, demonstrating strategic relevance. Notably, the policy development process leverages the Nigerian diaspora of blockchain researchers, adding credibility and cultural insight. The methodology involved using Generative AI and scholarly data analysis to identify top researchers of Nigerian descent worldwide. 21 such researchers were confirmed and included in the advisory body for the national policy.
Key institutions involved in developing the white paper include the Central Bank of Nigeria (CBN), the Nigerian Communications Commission (NCC), and the Nigerian Blockchain Technology and Development Group (NBTDG). Blockchain offers Nigeria solutions to long-standing issues such as financial inclusion, supply chain transparency, and digital identity.
The report's inclusive, crowdsourcing approach reflects democratic, bottom-up principles and shows a commitment to stakeholder engagement. Nigerians at home and abroad are invited to contribute to the blockchain roadmap, demonstrating the country's dedication to inclusive policy development. With this national policy, Nigeria is poised to harness the power of blockchain technology for its economic and social development.
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