https://en.sputniknews.africa/20240709/nigeria-takes-aim-at-digital-sovereignty-with-nigerium-blockchain-project-1067435281.html
Nigeria Takes Aim at Digital Sovereignty With 'Nigerium' Blockchain Project
Nigeria Takes Aim at Digital Sovereignty With 'Nigerium' Blockchain Project
Sputnik Africa
The development of the blockchain, dubbed Nigerium, comes amidst a burgeoning cryptocurrency industry in Nigeria, estimated to be worth $400 million. 09.07.2024, Sputnik Africa
2024-07-09T16:54+0200
2024-07-09T16:54+0200
2024-07-09T16:54+0200
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Nigeria is setting its sights on bolstering its digital sovereignty with the development of a homegrown blockchain system dubbed Nigerium.The initiative, spearheaded by the country's National Information and Technology Development Agency (NITDA), aims to address data security concerns and enhance transaction efficiency.While a timeline for development and implementation is yet to be established, Nigerium is envisioned as a platform for secure and transparent transactions across various sectors.The move aligns with Nigeria's national blockchain policy, launched last year, which seeks to cultivate a thriving digital economy powered by blockchain technology. This policy aims to facilitate secure transactions, data sharing, and value exchange between individuals, businesses, and government entities.
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nigeria, west africa, currency, alternative currency, cryptocurrencies , economy, technology, digital technology , information and communication technology
nigeria, west africa, currency, alternative currency, cryptocurrencies , economy, technology, digital technology , information and communication technology
Nigeria Takes Aim at Digital Sovereignty With 'Nigerium' Blockchain Project
Muhammad Nooh Osman
Writer/Editor
The development of the blockchain, dubbed Nigerium, comes amidst a burgeoning cryptocurrency industry in Nigeria, estimated to be worth $400 million.
Nigeria is setting its sights on bolstering its digital sovereignty with the development of a homegrown blockchain system dubbed Nigerium.
The initiative, spearheaded by the country's National Information and Technology Development Agency (NITDA), aims to address data security concerns and
enhance transaction efficiency.
While a timeline for development and implementation is yet to be established, Nigerium is envisioned as a platform for secure and transparent transactions across various sectors.
"Developing an indigenous blockchain like Nigerium is a significant step towards achieving data sovereignty and fostering trust in digital transactions within Nigeria," remarked Chanu Kuppuswamy, a blockchain expert at the University of Hertfordshire Law.
The move aligns with Nigeria's national blockchain
policy, launched last year, which seeks to cultivate a thriving digital economy powered by blockchain technology.
This policy aims to facilitate secure transactions, data sharing, and value exchange between individuals, businesses, and government entities.
