Blockchain policy adoption will create regulatory framework- Kalu
By Kingsley Odii
Sequel to the approval of the National Blockchain Policy by the Federal Government last Wednesday in Abuja for the adoption of blockchain in Nigeria, Kelechi Heaven Kalu, a Senior Executive Content Strategist and Copywriter at Quore Media, in an exclusive interview with Marketing Edge revealed that ‘the National Blockchain Policy will create a regulatory framework that will promote the development of blockchain-based applications and services.
“This will create new business opportunities for Nigerian startups and entrepreneurs, leading to job creation and economic growth. This framework will provide clarity and guidance on how blockchain technology should be used and regulated in Nigeria, which will help to attract investment and create new business opportunities”, Kalu averred.
He also stated that startups and entrepreneurs will be able to operate in an environment that is conducive to innovation and growth, leading to job creation and economic development. While adding that the policy will help to enhance the transparency and accountability of government processes by using blockchain technology.
“This will help to reduce corruption and improve public trust in government institutions, leading to a more stable and prosperous economy. Blockchain technology provides an immutable and transparent ledger, which can be used to track and verify government transactions, contracts, and other records. This will help to reduce corruption and increase public trust in government institutions. As a result, this will lead to a more stable and prosperous economy, as businesses and investors will have greater confidence in the integrity of government institutions.
In the same vein he asserted ‘that the policy will also provide a more secure and efficient way to store and transfer data, reducing the risk of data breaches and improving data protection. This will help to attract foreign investors and businesses to Nigeria, leading to increased foreign investment and economic growth.
He further said that Blockchain technology provides a secure and decentralized way to store and transfer data, which reduces the risk of data breaches and cyber-attacks. This can be particularly important in industries such as finance, healthcare, and government, where the security of sensitive data is critical. Improved data protection can also increase public trust in businesses and government institutions, which can lead to increased investment and economic growth.
The highly professional content strategist also affirmed that to fully leverage the benefits of the National Blockchain Policy, it is essential to have a skilled workforce that can develop and implement blockchain-based solutions.
“The government should prioritize blockchain education and training programs to ensure that Nigerian citizens have the necessary skills to participate in the blockchain economy. This will create opportunities for Nigerian citizens to participate in the global blockchain industry and can help to position Nigeria as a leader in blockchain technology.
Ultimately, he established that ‘the approval of the National Blockchain Policy is a significant step towards promoting the adoption of blockchain technology in Nigeria.
“The benefits of blockchain technology can have a positive impact on the Nigerian economy and market in several ways, including the creation of new business opportunities, enhancement of government transparency and accountability, improved data protection and security, and skills development, leading to increased foreign investment and economic growth.”
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