Nigeria’s Federal Ministry of Communications and Digital Economy (FMCDE) has approved the National Blockchain Policy as the country doubles down on creating a blockchain-powered economy. The adoption of the policy by the government will pave the way for the formal utilization of the technology in the country, which has seen significant crypto adoption in recent years. The FMCDE believes its implementation will have a positive effect on both the public and private sectors in Nigeria. Blockchain Adoption The latest push towards blockchain has also been prompted by Nigeria’s efforts to move away from its heavy economic reliance on the oil and gas sector and instead allow the economy to “leapfrog” into one driven by digital technologies. As such, the Federal Ministry of Communications and Digital Economy developed the National Blockchain Policy to diversify the economy on behalf of the federal government. This is in line with the National Digital Economy Policy and Strategy (NDEPS), which was unveiled by President Muhammadu Buhari in November 2019. Subsequently, the first draft of the policy released in October 2020 outlined the strategy and stated that it aligns with the 8 pillars of the ‘DIGITAL NIGERIA’ Roadmap of the FMCDE. They focus on – […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
