The Country Ambassador of Impact Market Nigeria, Kingsley Godwin, has said opportunities abound in blockchain technology, and if well utilised, can transform the country.
He added that there were investment opportunities in Nigeria’s Blockchain which could help expand the country’s Gross Domestic Products to $29 billion by 2030.
Godwin stated these at an empowerment summit themed, “Leveraging Blockchain Technology for Human Empowerment and Economic Development in Nigeria” on Wednesday, in Abuja.
He said, “There are so many other ways to leverage blockchain for human empowerment and economic development such as land titling, providing identity services, improving the transparency of donations, reducing fraud and corruption, and transforming governance systems.
“It is being said that by 2030, the blockchain industry can increase Nigeria’s Gross Domestic Product by $29bn, which can play a significant part in helping Nigeria achieve its Sustainable Development Goals: Reducing poverty, building an inclusive economy, caring for the health and well-being of Nigerian citizens, developing better education opportunities and improving cross-border trade.“
He, however, urged the government to fully embrace blockchain technology to benefit from these opportunities.
Godwin said, “We, therefore, charge the government and its regulatory stakeholders’ bodies to embrace blockchain technology and explore the potential of this emerging technology. Decisive steps must be taken to explore the benefits of blockchain, or else we risk being left behind by other nations who are taking various risk-based approaches to regulate blockchain while giving room for the technology to thrive.“
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