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Experts task govt on enabling environment for Blockchain technology

Some Information Technology (IT) experts on Friday urged government to provide the enabling environment for the Blockchain Technology to thrive.

The IT experts made the plea during a panel discussion at the Lagos Blockchain Artificial Intelligence and Digital Assets Conference 2019 in Lagos

The Wikipedia says a Blockchain is a decentralised, distributed and public digital ledger that is used to record transactions across many computers so that any involved record cannot be altered retroactively, without the alteration of all subsequent blocks.

A Blockchain allows digital information to be distributed but not copied.

The IT experts made the plea during a panel discussion at the Lagos Blockchain Artificial Intelligence and Digital Assets Conference 2019 in Lagos.

According to the experts, providing the enabling environment will give room for the Blockchain technology to thrive; which is the solution to most of the challenges faced by the people.

Mr Akinsope Roberts, an official of EY West Africa Digital Solutions, said that the focus should be on human capital development.

According to him, if it has to be done, there has to be a collaboration with government providing an enabling environment for private sector investments.

Akinsope said there is need for human capital development of the untapped resources in the country.

He said: “There are about 200 million people in the country, of which more than half are young people.’’

He said that young people were into technology and government has to ensure that they were actually exploiting technology resources out of the young people and should have an interface with them.

“The focus should be on how the regulatory process should be in digital forms and records.

“Government needs to protect the people and be at the forefront to implement the project of ‘Blockchain’ to improve people’s lives,’’ Akinsope said.

Mr Germaine Ifudu of Kudi Exchange, said there is need for government to be in tune with the Blockchain technology.

Kudi Exchange is a digital asset platform and mobile app that allows you to transact, do business and to send and receive payments in a secure, fast and inexpensive manner.

Ifudu said that with government’s involvement, people would be protected, so they will not get scammed or corrupted.

He said that government has to be at the forefront of the project because it was a sure way of improving people’s life through education, health and security.

Ifudu said that people should not always wait for government all the time but do the best they can.

Dr Andrew Nevin, Chief Economist at PWC, said that emerging innovative events in technology would overtake the people.

Nevin said there was no other way of offering what the people need without embracing Blockchain technology.

According to him, there is need to fast-track this technology and embrace the advantages because with Blockchain, no one can imagine what can happen.

Also speaking at the panel was Kadijat Abdulkadir, Chief Technologist, Africa Prudential, who urged technologists to perform their civic rights on what to do for the society.

She said that rather than waiting or calling on the government at all times, technologists should think of the value they would add to the society.====NAN

 

 

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