Nigerian government formally approves blockchain use

2023-5-4 20:30

The Nigeria Federal Executive Council has approved the National Policy on Blockchain drafted by the Federal Ministry of Communications & Digital Economy, paving the way for the formal use of blockchain technology in the country.

In a May 2 tweet, the special assistant to the President on digital and new media, Tolu Ogunlesi, said relevant agencies would be working to develop appropriate regulatory frameworks. He said the government established a steering committee led by the National Information and Technology Development Agency to oversee policy implementation.

However, the approved policy is not yet public. Ogunlesi promised that this would be provided soon.

Many Nigerians have welcomed the news of the approval even without seeing the policy document. Some have also questioned if the new policy legalizes crypto usage in the country.

In 2021, the Central Bank of Nigeria (CBN) prohibited financial institutions from providing their services for crypto-related transactions.

Since then, the CBN has yet to clarify its stance towards the industry. However, that has not stopped cryptocurrency adoption — Chainalysis ranked Nigeria in the top 20 of its 2022 Global Crypto Adoption Index.

Nigeria’s pro-crypto moves

Meanwhile, this policy continues a recent series of pro-crypto moves made by Africa’s most populous country. Earlier this week, CryptoSlate reported that the Nigeria Securities and Exchange Commission plans to support asset tokenization.

According to the report, the financial regulator is currently processing applications from fintech firms that would serve as sub-brokers, crowdfunding intermediaries, tokenized coin issuers, and fund managers.

Before that, another Nigerian government agency met with Binance to discuss establishing a virtual assets free trade zone similar to the Dubai free trade zone in the country.

The post Nigerian government formally approves blockchain use appeared first on CryptoSlate.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

High Performance Blockchain (HPB) на Currencies.ru

$ 0.0100291 (+7.61%)
Объем 24H $25.057k
Изменеия 24h: 5.20 %, 7d: 30.40 %
Cегодня L: $0.0090557 - H: $0.0100291
Капитализация $732.823k Rank 1812
Цена в час новости $ 0.0910131 (-88.98%)

blockchain use federal digital economy communications country

Источник: cryptoslate.com

blockchain use → Результатов: 126


Will Blockchain Use At the 2020 Summer Olympics be a Bitcoin Bull Market Catalyst?

An Increasing Number of Organization Want to Experiment with Blockchain Tech Blockchain technology is admired for its organized and honest way to track information for any digital network. It has been adapted for various companies in different industries, and it looks like the International Testing Agency wants to use it as well. According to reports […]

2019-6-15 04:06


Mfun ICO

Mfun is a blockchain rewards platform designed to capture more value from the gaming economy and redistribute that value more fairly to gamers and local game providers. Mfun wants to solve three main inefficiencies which are: (1) Gamers are not rewarded for their time spent playing; (2) Game providers cannot get a good return on their ad spend and (3) Lack of transparency and trust in the gaming economy.

2018-7-24 22:18


TPX Network ICO

TPX Network aims to change the money transfer business. We will do this by leveraging blockchain technology and applying it to the online remittance business. Our app will give the customers the choice of using either fiat money or cryptocurrency to fund their transfers, cash out or even use payment cards.

2018-7-23 15:47


The UXM ICO

The Universal Exchange Marketplace (UXM) is a designed to be a powerful yet easy to use transaction exchange platform that empowers individuals and businesses worldwide to increase their income, wealth, and value through optimized efficiencies on all sides of a transaction while simultaneously and automatically multiplying the value of each transaction for both buyer and seller through the proprietary UXM Multiplied Monetization (UMM) system.

2018-7-22 20:34


Фото:

Governance, Part 2: Plutocracy Is Still Bad

Coin holder voting, both for governance of technical features, and for more extensive use cases like deciding who runs validator nodes and who receives money from development bounty funds, is unfortunately continuing to be popular, and so it seems worthwhile for me to write another post explaining why I (and Vlad Zamfir and others) do not consider it wise for Ethereum (or really, any base-layer blockchain) to start adopting these kinds of mechanisms in a tightly coupled form in any significant way.

2018-7-21 23:03


STARKs, Part I: Proofs with Polynomials

Special thanks to Eli Ben-Sasson for ongoing help, explanations and review, coming up with some of the examples used in this post, and most crucially of all inventing a lot of this stuff; thanks to Hsiao-wei Wang for reviewing Hopefully many people by now have heard of ZK-SNARKs, the general-purpose succinct zero knowledge proof technology that can be used for all sorts of usecases ranging from verifiable computation to privacy-preserving cryptocurrency.

2018-7-21 23:03


Notes on Blockchain Governance

In which I argue that “tightly coupled” on-chain voting is overrated, the status quo of “informal governance” as practiced by Bitcoin, Bitcoin Cash, Ethereum, Zcash and similar systems is much less bad than commonly thought, that people who think that the purpose of blockchains is to completely expunge soft mushy human intuitions and feelings in favor of completely algorithmic governance (emphasis on “completely”) are absolutely crazy, and loosely coupled voting as done by Carbonvotes and similar systems is underrated, as well as describe what framework should be used when thinking about blockchain governance in the first place.

2018-7-21 23:03


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Nigerian officials sought secret crypto settlement, Binance CEO says

Binance CEO Richard Teng claims officials in Nigeria approached the exchange’s team and offered a secret crypto settlement proposal. Teng shared details of this shocking development in a blog post that highlights the ongoing legal troubles around Binance official Tigran Gambaryan.

Nigeria to remove Naira from P2P trading platforms to curb currency manipulation

The Nigerian government has revealed intentions to delist the national currency, the Naira, from all peer-to-peer (P2P) trading platforms. Emomotimi Agama, the Director General of the Nigerian Securities and Exchange Commission (SEC), reportedly revealed this plan during a virtual meeting with the country’s blockchain stakeholders today as part of a wider effort to combat the […] The post Nigeria to remove Naira from P2P trading platforms to curb currency manipulation appeared first on CryptoSlate.