TECHDIGEST- A cross section of international tech experts have commended the efforts of the Nigerian government in driving digital innovation, in the last few years.

They however, advocated for the use of blockchain technology to sustain the growth of the country’s digital economy sub-sector.

The experts spoke on, “Blockchain Innovation,” at the ongoing Digital Nigeria Day 2022 Conference and Exhibition, in Abuja.

READALSO: NITDA, Blockchain & FutureTech
By Kashifu Inuwa Abdullahi

According to Ray Sharma, the President Muhammadu Buhari-led administration deserves resounding commendation for the digital revolution taking place in the country.

“But the Nigerian Government, again, must make the right decision to indulge in blockchain technology, so as to attract more investments for the country,” he noted, while speaking on, “The Importance of Blockchain for Digital Transformation”.

Sharma, the General Partner of Pacer Ventures, defined blockchain as a necessary piece of digital infrastructure, saying that the core blockchain environment is thriving in Africa.

“And its adoption in Nigeria will give the country an edge in the technological advancement taking place in Africa,” he said.

The Lead of BSV Blockchain for Government Initiative Middle East, Ahmed Yousif, noted that the full deployment of blockchain in Nigeria will help to secure relevant data for all internet devices, especially the ones vulnerable to hacking.

He pleaded with the federal government to provide digital tools to young and smart Nigerians that are ready to harness the opportunities in blockchain and other tech system applications.

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TECH DIGEST- Minister of Communications and Digital Economy, Prof. Isa Ali Ibrahim Pantami, said their Ministry, alone, made over N408 billion remittances to the Federal Government, in the last three years.

He disclosed this at the ongoing Digital Nigeria Day 2022, holding at the International Conference Centre, ICC, in Abuja.

READALSO: Pantami’s Book on ‘Advancing Nigeria’s Digital Economy’ Unveiled

According to Pantami, their Communications and Digital Economy Ministry, has also boosted the growth of Nigeria’s economy, as it is presently contributing about 18% to the nation’s Gross Domestic Product, GDP.

“Not only that, we have also developed 19 policies, with 17 already executed to ensure a full digital transformation and inclusion in the country”.

While speaking at the event, the Chief Executive Officer, CEO, of Block Chain for All, Jimmy Nguyen, described the adoption of Blockchain technology in Nigeria as a blessing.

According to him, Blockchain technology in Africa’s largest economy has boosted financial inclusion, while also nurturing the growth of small businesses digitally.

Highlighting the importance of Blockchain to the development of the Information Communication Technology, ICT, sector in Nigeria, he admonished start-ups in the country to harness the beneficial technologies inherent in Blockchain as a digital invention.

Nguyen said: “The power of Blockchain technology is data and there are countless opportunities Nigerian ICT firms and start-ups can harness in using Blockchain”.

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TECH DIGEST – This year’s edition of the Middle East premium technology show – the Gulf Information Technology Exhibition (GITEX 2020) – witnessed a wide array of tech launches and innovations, with attendees getting to handle the latest gadgets and devices put on display by exhibitors from across the tech ecosystem.

The event, which held at the Dubai Trade Centre from December 6 to 10, hosted a variety of global tech firms and a large number of tech enthusiasts from more than 80 countries, including Japan, Saudi Arabia, Brazil, Italy, Nigeria, Turkey, Belgium, Romania and India.
Now in its 40th edition, the event featured the main GITEX conference agenda, GITEX Future Stars, GISEC, Future Blockchain Summit and Marketing Mania for tech industry, all under one roof, which enabled attendees to hear key insights from a huge range of international speakers, influencers and exhibitors across the five shows.

GITEX 2020, the only face-to-face technology show in the year, focused on the key themes of 5G, Artificial Intelligence, Analytics, Future Mobility, Digital Economies, Cybersecurity and Cloud, and Edge computing.

For five days, the event provided a platform for young innovative companies to showcase their ingenuity and afforded startups to connect with a host of global investors and financiers to accelerate their growth.

Through such interactive platforms, startups and budding tech companies were able to network and kickstart multinational distribution enterprises by utilising Artificial Intelligence, Blockchain, 5G, the Internet of Things (IoT) and cloud based technologies.

A major focus of GITEX 2020 was the unraveling of blockchain technology as the core of the foundation driving the digital transformation initiatives of businesses that have been birthed since the advent of the COVID-19 pandemic.

Attendees at the Future Blockchain Summit had access to expand networking, conversations, business opportunities and innovations across the industry, as leading blockchain enterprises, startups and industry experts exchanged ideas and learnt new knowledge about this revolutionary and most influential invention.

Blockchain technology is at the core of our digital future lives and environments, as it impacts virtually every sector of human endeavour. This technology has gone beyond its advent in banking and cryptocurrency to transform other industries and sectors, from the extractive, to manufacturing, distribution and security.

The impact of blockchain applications is far-reaching and cuts across sectors such as healthcare; education/academia; voting; e-commerce; energy management; retail; law enforcement and critical infrastructure security.

Others include crops/agriculture; waste management; government and public records; public transportation; internet identity; cloud computing/storage; messaging apps; sport/entertainment rights and industrial IoT, among others too many to mention.

Annual global spending on blockchain solutions is projected to reach nearly $16 billion by 2023. In view of the popularity demonstrated by blockchain applications in finance, many entrepreneurs have come to believe that blockchain has the power to disrupt many more industries, especially healthcare.

It is upon this premise that experts at GITEX 2020 harped on the need for adoption of blockchain technology for the healthcare ecosystem in providing increased security, privacy, and interoperability of patients’ health data.
Speaking at the forum, the director general, National Information Technology Development Agency (NITDA), Kashifu Inuwa outlined some of the benefits of blockchain to the healthcare sector.

He explained that the said blockchain technology would transform the healthcare sector by placing the patients at the centre of the healthcare ecosystem; giving them easy access to their secure data anywhere and anytime; and eliminating fake drug, as patients would be able to see the sources of the drug, from the manufacturer, before its reaches the final health facilities, and patients do not need to apply to health facilities to have access to their medical records.
Kashifu told the delegates that Nigeria is working on developing the blockchain adoption strategies, not only as a business disruptor for creating new products, services and innovative ways of doing things but also as a foundation technology that could facilitate transformation in most sectors of the country’s economy.

He informed that some of the country’s startups attending GITEX had developed some blockchain applications for the benefit of humanity, as a demonstration of Nigeria’s readiness to embrace and adopt the technology.

He observed that while Africa as a continent lost out during the first, second and third revolutions because of the huge capital and investment requirements, the fourth industrial revolution remains the best opportunity for the continent to play active roles, as it requires only talent, mobile connectivity and adequate skills.

To this end, Kashifu added that NITDA is encouraging Nigeria’s youthful populations to embrace modern technologies for employment generation and self-reliance through training, mentorship, internship placements and start-up vouchers, the agency is also helping them with working space and logistics, before promoting their products in the market.

Other experts who spoke on the technology included Olinga Taeed, a professor in blockchain technology; the managing partner of Health Group and chief health privacy security officer BTBlock, Dr. Alice Loveys, and consulting leader, Government and the Public Sector at IBM, Saqr Ereiqat.

Blockchain simply refers to a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system.

Essentially, transactions through blockchain technology could allow hospitals, patients, and other parties in the healthcare value chain to share access to their networks without compromising data security and integrity. The decentralised nature of the technology creates one ecosystem of patients data that can be quickly and efficiently referenced by doctors, hospitals, pharmacists and anyone else involved in treatment, thereby leading to faster diagnoses and personalised care plans.

With the blockchain platform in place, it would be possible for pharma companies to collect data in real-time to enable them offer a vast array of medical products and treatments, which are specifically customised for the patients. It will mark the point of creation/origin of the drug and then continue to record data every step of the way, including who handled it and where it has been, until it reaches the consumer.
I strongly believe that Nigeria stands to derive immense benefits from the use of blockchain in the healthcare sector because it is not owned by a single entity. Data is immutable, as no one can tamper with the data that is inside the system (blockchain). It is transparent, and easy to track the data whenever it is necessary.

The capacity of blockchain for transparency, immutability, security, innovation and reduction of transaction costs and innovation are the major qualities that continue to help the technology gain so much admiration in all sectors of human endeavour.

In fact, there is no better time than now for government and stakeholders in Nigeria’s healthcare ecosystem to forge a robust partnership towards embracing and adopting the blockchain technology to drive reforms for enhanced supply chain management, traceability of counterfeit drugs, integrity of medical records, treatment regimens, and single patient identification, as well as checking drug ingredients.

It is my hope that Nigerian startups unveiled at GITEX 2020 will bring their innovations to bear towards helping to solve our healthcare challenges, and while they do so, public and private sector organisations should provide incentives to encourage young tech companies to achieve success in their innovative pursuits.

Inyene Ibanga is Managing Editor TechDigest, Wuye District Abuja.

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TECH DIGEST – Experts have advocated the adoption of blockchain technology for healthcare ecosystem in providing increased security, privacy, and interoperability of patients’ health data.

The experts who spoke at a Summit on Blockchain and the future of Healthcare at the ongoing 40th edition of Gulf Information Technology Exhibition (GITEX 2020)

The experts who spoke as panel included Director General National Information Technology Development Agency (NITDA), Kashifu Inuwa; Director, Centre for Citizenship Enterprises and Governance, Professor Olinga Taeed; Managing Partner Health Group and Chief Health Privacy Security Officer BTBlock, Dr. Alice Loveys and Consulting Leader Government and Public Sector IBM, Saqr Ereiqat.

The DG NITDA who is the only African in the panel told delegates at the forum that Blockchain technology has improved health information exchanges by making electronic medical records more efficient, disintermediated, and secure. He added that it has the potential to reduce friction and costs of current intermediaries.

“Blockchain is a technology that can transform the healthcare by placing the patients in the centre of healthcare ecosystem by giving them easy access to their data anywhere anytime and securely… It can also eliminate fake drug as patients can be able to see the sources of the drug, where it goes before its reach the final health facilities… Patient don’t need to apply to heath facilities to have access to their medical records”

Kashifu also gave highlight on Nigeria’s effort to embrace and adopt the technology.

“In Nigeria we are working on developing the blockchain adoption strategies because we see blockchain not just as a business disruptor, which creates new products, services and new ways of doing things by displacing the existing market leaders… but as a foundation technology that can help in transforming a lot of sectors… Some of our start-ups attending GITEX have developed some blockchain applications that can be useful to humanity.

“While Africa as a continent lost out during the first, second and third revolution because of huge capital and investment requirement, the fourth industrial revolution is our best bet because it only requires talents, mobile connectivity and adequate skills….

“At NITDA we are encouraging our youthful populations to embrace the modern technologies for employment generation and self-reliant through training, mentorship, internship placements and start-up vouchers to help them provide working place and logistics before promoting the products in the market”

Also speaking on the technology, Olinga Taeed, a Professor in Blockchain said blockchain technology as a distributed system for recording and storing transaction, is faster, cheaper, secured and trusted for speculative transactions as the future of the fourth industrial revolution.

He added that in a blockchain system, there is no central authority as transaction records are stored and distributed across all network participants.

In her contributions, Dr. Alice Loveys said blockchain presents numerous opportunities but with several challenges on trustworthiness, transparency and accessibility that must be addressed before it is fully adopted by the healthcare system.

She said: “There are multiple parties in the ecosystem doing a lot of exchanges and on assets… We can then ask does the blockchain system benefits from increase trust, increase transparency? Are there complex business rules associated with the assets. It is certain that healthcare sector is more complex than that. The concern must be addressed.

PRNigeria reports that GITEX Technology Week is a leading technology shows, including GITEX Future Stars for biggest tech start-up event; cybersecurity conference and exhibition; Future Blockchain Summit and Marketing Mania.

NITDA sponsors startups drawn across the country to participate in the Global Future Stars (GFS), a major highlight of GITEX 2020 offering a strategic window for the country’s startup community to leverage world-class exposure, angel investors and mentors.

By PRNigeria

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TECH DIGEST – The National Information Technology Development Agency (NITDA) says Nigeria plans to generate over six billion dollars through blockchain technology by 2030.

NITDA Director-General, Mr Kashifu Inuwa, said this at a stakeholders’ engagement for the review of the National Blockchain Adoption Strategy Framework in Abuja.

Inuwa said that the blockchain was among emerging technologies that had contributed to the growth of economies globally, saying that Nigeria will not be left out.

“We see the need for us to position our country well so we can capture value from blockchain.

“There is a recent publication by PricewaterhouseCoppers(PwC), an international institution that indicated that in the next 10 years, blockchain is going to contribute 1.76 trillion dollars to the global Gross Domestic Development by 2030.

“We want Nigeria to be strategically placed to capture value from this economic potential of blockchain.

“Based on the PwC analysis, China is going to get the highest net worth potential from blockchain technology,because it is projected that by 2030, China will capture over 460 billion dollars.

“In Nigeria, looking at our youthful population,which is mainly digitally native and with our position in Africa, we are looking at how we can get at least around six to 10 billion dollars by the year 2030,” he said.

Inuwa said that the target was achievable because Nigeria’s payment and financial services were huge,while the country had been located as a hotspot for FinTech in Africa.

He added that blockchain technology could be achieved through provincial services,payment services,digital identity,customer engagement, contract and dispute resolution applications,among other strategies.

The director-general said that it was important for Nigeria to discover its competences and adopt the application that could generate income.

He also said that the blockchain technology interfaced with the eight pillars of the National Digital Economy Strategy and Policy towards building a digital economy.

Inuwa called on stakeholders to fashion out flexible and implementable strategies for immediate execution that government can leverage on for job creation.

“We are looking at coming up with strategy to help the country capture value from financial services, land administration, education and health care.

“Blockchain is going to play a key role in terms of creating, tracing products and services, ” he said.

Inuwa said that COVID-19 pandemic had forced people and nations to devise secured ways of transacting businesses and that blockchain technology provided such an opportunity.

Dr Usman Gambo, Director, IT Infrastructure Solutions, in his address, said the adoption of blockchain technology was inline with the policy of creating a digital economy for the benefit of citizens.

Gambo said the mechanism of blockchain was complex, but the benefit outweighs the challenges.

He said that the technology, if adopted must be regulated to avoid abuse by ponzi scheme and other malicious technology financial platforms.

The director said that stakeholders’ contributions would give the country directions on how to adopt the technology.

Mr Abdulsalam Umar, a Blockchain Expert, while reviewing the strategy document, said the benefits of the technology included reduced budgeting cost, ensuring security and globalisation.

Umar added that the technology could help create jobs and new business models inaddion to ensuring transparency in governance.

He said that adopting it would require a legal framework to avoid potential risks and ensure that the country was operating a common global standard.

The expert added that the technology was beneficial because it could make huge contributions to the country’s Internally Generated Revenue.

Goodwill messages were delivered at the event by representatives of Central Bank of Nigeria, Security and Exchange Commission and Nigerian Inter-Bank Systems,among others. (NAN)

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