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How BSV blockchain is creating a system of trust in Nigeria

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How BSV blockchain is creating a system of trust in Nigeria

Kashifu Inuwa Abdullahi in BSV Blockchain Interview for BSV Blockchain creating a system of trust in Nigeria

The BSV blockchain can be used to strengthen the trust between government and citizens, says Kashifu Inuwa Abdullahi, Director-General and CEO of the National Information Technology Development Agency (NITDA) in Nigeria.

Speaking at the sidelines of the inaugural Developers Summit in Abuja, Abdullahi said the adoption of blockchain technologies was a core mandate of his government. He added that his department is in the process of commissioning new Artificial Intelligence and blockchain training labs which are aimed at helping the people of Nigeria develop their skills in these emerging fields, with the ultimate goal of training one million new developers.

Abdullahi said that the Nigerian government is so keen to focus on blockchain technology, and the BSV blockchain in particular, because of the potential it has to address several key regulatory issues, including: 

  • Tracking and tracing goods and services;
  • As a platform for the financial system and boosting financial inclusion;
  • Digital identity services;
  • Smart contracts and dispute resolution;
  • Building customer engagement, trust and loyalty.

Creating a system of trust with the BSV blockchain

Abdullahi noted that this final point is arguably the most important as blockchain is ultimately a ‘trust technology’. ‘Blockchain can help in the openness and transparency and integrity of everything we do,’ he said. 

Abdullahi added that his department had recently passed new legislation that will help boost this adoption at universities, corporate organisations, and among entrepreneurs. ‘We need everybody on board because we believe we cannot succeed in isolation.’

He added that NITDA was specifically using tools provided by the BSV Academy to help boost the Nigerian government’s online education platforms. 

‘For every technology, not only blockchain, people resist it. If you talk about blockchain, the first thing that comes to people’s minds is Bitcoin. People, even governments in some jurisdictions resist it because they see it as coming to disrupt.’ 

Abdullahi reiterated his point that this is an issue of trust. ‘When there is trust, I can transact with anybody directly without going to banks. I can do business without governments or anything because we trust each other. We trust the system because trust increases even the economic prosperity of a nation.’

‘Blockchain is coming to disrupt, digital assets are coming to disrupt the banking sectors. People are using it for money laundering, and a lot of other things. But we want people to know that blockchain is beyond digital currency and that blockchain is about everything. It’s a foundational technology, and it can be applied in any sector you can think of.’

Ryan Brothwell

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