The Director-General of the National Information Technology Development Agency (NITDA), Mallam Inuwa Abdullahi, has said that blockchain technology, with its inherent principles of transparency, security and decentralisation can streamline governance and enthrone accountability.
He said NITDA is fully committed to supporting and nurturing the growth of the blockchain and digital assets ecosystem in Nigeria as it has emerged as a disruptive force that has the potential to revolutionise industries, ranging from finance and healthcare to supply chain management and governance.
Inuwa disclosed this in his keynote address delivered at the Stakeholders in Blockchain Technology Association of Nigeria (SiBAN) Digital Assets summit 2023 recently in Abuja.
“We recognise the potential for blockchain technology to enhance transparency in government, improve service delivery and foster innovation in various sectors.
“Moreover, we acknowledge the importance of providing a regulatory framework that ensures the responsible and safe use of digital assets within our financial system.
“It underscores the transformative power of blockchain technology and digital assets and the profound impact they are having on industries, economies and societies worldwide,” he said.
He commended SiBAN and other stakeholders for their dedication to advancing blockchain technology and digital assets in Nigeria and urged the organisers to ensure the summit serves as a platform for robust discussions, knowledge sharing and collaborative initiatives that will drive the nation’s digital transformation.
Inuwa added that for him, the SiBAN Digital Assets summit 2023 stands as a testament to the commitment of SiBAN to fostering dialogue, collaboration and innovation in this rapidly evolving field.
“We recognise the potential for blockchain technology to enhance transparency in government, improve service delivery and foster innovation in various sectors.
“Moreover, we acknowledge the importance of providing a regulatory framework that ensures the responsible and safe use of digital assets within our financial system.
“It underscores the transformative power of blockchain technology and digital assets and the profound impact they are having on industries, economies and societies worldwide.
“As we gather here today, we find ourselves at a pivotal moment in history, where the convergence of technology, finance and innovation is reshaping the very foundations of our global economy.”
“It is not merely a technology but a catalyst for trust, accountability and empowerment. Digital assets, including cryptocurrencies and tokens, are redefining the way we think about value, ownership and exchange.
“They are democratising access to financial services, enabling cross-border transactions and empowering individuals to have greater control over their financial destinies.
“As we embrace these transformative technologies, we must also be vigilant stewards of their development and adoption.
“It is incumbent upon us to ensure that blockchain and digital assets are harnessed for the greater good; that they are secure, compliant and inclusive and that they serve as tools for economic empowerment and social progress.
“As we embark on this journey together, let us remain steadfast in our commitment to harnessing the full potential of blockchain technology and digital assets to create a brighter, more inclusive future for all,” he added.
In his address, SiBAN President, Obinna Iwuno, said the summit was organised to deepen awareness about blockchain technology and other digital assets.
He called for a seamless adoption of the technology and synergy between policy makers and industry players.
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