The Nationwide Data Know-how Growth Company (NITDA) has said its plan to develop an indigenous blockchain ‘Nigerium’ to guard the nation’s knowledge and promote nationwide safety.
The transfer was prompted by the revelation that hottest blockchain applied sciences like Ethereum had been being managed by international builders who might not prioritise the nation’s pursuits.
NITDA’s Director Common, Kashifu Abdullahi, introduced this whereas receiving delegates from the College of Hertfordshire Legislation College in Abuja, saying that the proposed venture was going to get the non-public sector working along with the general public sector to develop the homegrown blockchain.
Abdullahi affirmed that the proposed blockchain would enhance nationwide safety and the security of residents’ knowledge, emphasising the significance of creating an indigenous blockchain as it could assist Nigeria have full management over its knowledge and positions.
The thought for the ‘Nigerium venture’, a homegrown blockchain for Nigeria, was initially proposed and introduced by a delegation from the College of Hertfordshire Legislation College, led by Chanu Kuppuswamy.
Kuppuswamy argued that creating a homegrown blockchain for Nigeria would enable Nigeria to customize the expertise in keeping with its wants and make it possible for it aligns with the nation’s legal guidelines and laws.
Kuppuswamy additionally warned concerning the potential dangers of counting on foreign-made blockchains, citing an instance of when Ethereum not too long ago made steep modifications to its blockchain with out session with its customers.
She famous that if Nigeria adopts a international blockchain, it could be troublesome for the nation to stamp its affect on key choices surrounding the blockchain.
The delegation additionally recommended that Nigeria arrange a Information Embassy which is able to comprise a server hosted in a third-party nation that would offer digital continuity and defend the nation’s knowledge from hostile occasions like pure disasters, cyber-attacks, and different threats.
The delegation lastly recommended Nigeria look into harmonising blockchain expertise throughout authorities businesses to advertise interoperability and interdependence.