FG inaugurates ‘Blockchain Policy’ Committee, graduates 32,022 participants

The Minister of Communications and Digital Economy, Prof Isa Pantami, has inaugurated the National Committee for the Implementation of the National Blockchain Policy for Nigeria.

The membership of the committee is drawn from 29 institutions across the public and private sector, including academia.

During the ceremony which took place on Tuesday, in Abuja, 32,022 Nigerians graduated from the Blockchain Technology training organized by the Federal Government to equip citizens with the necessary skills required to run the polity.

The President, Major General (Retd) Muhammadu Buhari had on May 3 approved the blockchain policy and directed all relevant regulatory bodies – including – the National Information Technology Development Agency, Central Bank of Nigeria, National Universities Commission, Securities and Exchange Commission and the Nigerian Communications Commission – to develop regulatory instruments for the distribution of blockchain technology across the various sectors of the economy.

The National Blockchain Policy has been developed to serve as a road map for Nigeria’s adoption and use of emerging technologies.

Inaugurating the committee, Pantami explained that “Blockchain policy remains one of the emerging technologies to achieve the desired progress in the seventh pillar of the National Digital Economy Policy and Strategy for a Digital Nigeria, which is a “Digital Society and New Technologies” ,

He added, “To implement the seventh pillar, we had to develop other policies, including the Policy on Artificial Intelligence and Robotics which led to the establishment of the first ever National Center for Artificial Intelligence and Robotics (NCAIR) in Africa, located here in Abuja .

“In our efforts to implement the policy, especially pillar number seven, we developed the National Blockchain Policy for Nigeria,” Pantami explained.

The minister who also stressed the importance of technology to the nation’s digital economy operation noted that the fourth industrial revolution is relatively the one that has not relegated the African continent to the background, especially as African nations, especially Nigeria, are actively participating in the revolution which he informed is a extension of the third revolution.

The minister maintained: “Blockchain technology, artificial intelligence (AI), robotics, cloud and quantum computing, virtual and augmented reality, autonomous vehicles, biotechnology, 5G and cyber security, are all disruptive technologies brought about by the fourth industrial revolution and Nigeria is one of the at least three countries in Africa that are actively involved in the fourth industrial revolution.

“The successful implementation of the policy, which lays out a comprehensive framework for integrating the technology into various facets of the economy, will ensure the growth of indigenous talent in Blockchain Technology solution development leading to a robust and globally competitive ecosystem, effectively addressing core issues including governance, security , interoperability, compliance, accountability and transparency.

“It will increase innovation, improve public services, create job opportunities, drive economic growth, increase public trust in governance and promote citizen engagement among others,” he noted.

The National Policy on Blockchain Technology for Nigeria brings to 21 the number of policies initiated, developed and in various stages of implementation under Pantami’s watch.