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ARTICLE · 20 MAY 2024

Blockchain Policy: A Positive Development For Nigeria's Ecosystem

Tope Adebayo LP
Tope Adebayo LP
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Blockchain technology, known as BT, has gained widespread attention for its potential to revolutionize various sectors such as finance, education, healthcare, supply chain, and transportation worldwide.

NigeriaTechnology
Mosun Oke
Mosun Oke
Excellent Epelle
Excellent Epelle
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Introduction

Blockchain technology, known as BT, has gained widespread attention for its potential to revolutionize various sectors such as finance, education, healthcare, supply chain, and transportation worldwide. Nigeria, being the largest economy in Africa, has quickly recognized the advantages of this innovative technology. Nigeria has recently introduced a National Blockchain Policy aimed at promoting economic growth and fostering innovation within the country. The introduction of this policy aligns with the country's National Digital Economy Policy and Strategy 2020-2030, which emphasizes the importance of creating a digital society and embracing emerging technologies.1 The Federal Ministry of Communications and Digital Economy (FMC&DE) and the Nigerian Technology Development Agency (NITDA) have played key roles in introducing the National Blockchain Policy, in 2023.2 This article aims to delve into the significance of this policy and its potential impact on

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