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‘Blockchain technology key to economic development in Africa’


As Blockchain Technology (BT) continues to have wider application across platforms including industries with unassailable results, Nigeria and Africa in general have been advised to embrace it to open up the continent for development.

Experts at the maiden edition of Blockchain Africa Conference organised by Fintech Worldwide Limited in association with Eka Consult in Lagos, agreed that with the current global trend, the technology has come to provide golden opportunities for development in the African continent.

Specifically, the experts identified ways blockchain could address many challenges slowing down the continent’s economic development.Speaking at the event, Founder and Chief Executive Officer, Eka Consult,Steph Mekwuye said the conference was held in Lagos to evaluate blockchain technology and Africa’s opportunity due to the country’s position as a leading economy on the continent.

She said: “At present, blockchain technology has become a day to day technology in the Europe, America and some parts of Asia, Fintech Worldwide in conjunction with Eka consult brings an array of IT leaders and experts both within and outside the country to educate and enlighten the industry stakeholders on the opportunities in the blockchain technology.”

While delivering a lecture titled “Technology Infrastructure in Nigeria”, Chief Executive Officer, Precise Financial Systems, Yele Okeremi, took the audience down memory lane and discussed on the dynamics being experience in business and the leap in technology infrastructure development in the country.Speaking on Blockchain Application in Industry, Digital Transformation Expert, Eka Consult, Luis Novella shed light on how industries in the country could use the technology to bring transparency in their business financial management.

Also, Managing Director, Michelle and Anthony Consulting, Olufemi Ajulo at the conference urged the Federal Ministry of Science and Technology to initiate policies that that would tap into the benefits and opportunities in the technology.Chief Executive Officer, CYMANTIKS, Emeka Okoye while speaking on the software ecosystem in Nigeria, emphasised the gain to the economy if opportunities in software technology are fully maximised.

He decried the decline in the rate of software development in Nigeria.“We need to know that data is an infrastructure and economy builder in this era. Nigeria as a country must step up in promoting software development. We must also thrive to inject digital and visionary leaders to helm of affairs to fast-track Nigeria’s race to digital world,” he stated.

The events was attended by representatives of the Nigerian Immigration Service, Lagos State Government, top IT practitioners, business executives, students of tertiary institutions and youths.

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