ICT Clinic (Punch Newspaper)

The blockchain movement marches on [ICT Clinic]

ICT Clinic by CFA on BlockChain

The world has entered into a period of unprecedented advancement in technology and smart nations are racing, to shore up their intellectual property filings, in as many areas, as possible. Supporters of blockchain technology argue that it is indeed a new chapter for the world.

According to some of them, blockchain technology will be way bigger than the Internet and it would not stop at that, it will bring about unprecedented transparency and for some, redistribution of wealth. What believers in this technology like the most, is ‘decentralisation’.

Well, the reality today is that, blockchain is gaining grounds and even, in Nigeria, a group, known as, Blockchain Nigeria User Group, founded by Chimezie Chuta, is swelling in size and influence. This is the group, behind the much talked about ‘blockchain, artificial intelligence and digital assets conference’, which held in Lagos a few days ago and frankly, it was an event that focused on using blockchain to solve the multiple, often humongous problems, confronting us, as a nation.

I am a keen follower of the blockchain industry. I have written a few times, on how I did not take advantage of the bitcoin opportunity that came my way in the early days of the crypto currency. A missed opportunity that sort of saddens me each time I think about it. Like many of us would say, life goes on!

Due to the fact that I am interested in developments in the blockchain industry, I make it a point of duty, to attend any event, or, meet up that, I believe would add value, particularly to my followers. This growing interest in the blockchain industry, motivated me to attend the conference, which was on its 7th leg and returning to Lagos, for the 3rd consecutive season.

The conference is aimed at bridging the knowledge gap, by providing government functionaries, decision makers, professionals and practitioners, with the resources they need, to make key business-shaping decisions, in a rapidly changing world.

The event was well attended with speakers from across the globe. As I sat in, listening to speaker after speaker, what kept running through my mind was, what are some of the practical ways that blockchain can bring almost immediate changes and even disruption to a country like Nigeria?

The reality is that as the president begins a second term in office, Nigeria desperately needs to make progress. We need to, tactfully and truthfully, tame the corruption monster, provide jobs for citizens, push towards real economic development, stop the fleecing of the economy, through massive importation of almost everything, under the sun, including most of the software that power the fabric of our national lives.

Since this column started many years ago, I have maintained and still maintain that, technology holds the ace. If implemented correctly and sincerely, it would bring about efficiency and transparency, which to me, are the bane of most of our challenges. Thankfully, blockchain can deliver unprecedented transparency, effectiveness and efficiency to the Nigerian economy.

One of the straight-from-the-heart presentations at that conference that, I found quite revealing, is that of the Chief Economist, PwC Nigeria, Andrew Nevin. This gentleman seats on top of one of the largest consulting firms and deals, both, with the private and public sectors, which makes him privy to tons of information. If I have to be a seer, I bet he would be wondering, why would a country be so — Finish Reading on the Punch