Coinfeeds Daily → Nigeria Develops Indigenous Blockchain 'Nigerium'

Nigeria Develops Indigenous Blockchain 'Nigerium'

Published: Jul 08, 2024 | Last Updated: Jul 08, 2024
Howard Kane

NITDA leads the initiative to enhance data sovereignty and national security, reducing reliance on foreign blockchains.

Nigeria is embarking on an ambitious project to develop its own indigenous blockchain technology, named "Nigerium." This initiative aims to enhance data sovereignty and national security, addressing concerns over the reliance on foreign-developed blockchains.

Why Develop Nigerium?

The National Information Technology Development Agency (NITDA) is leading the charge on this project. The primary motivation behind developing Nigerium is to reduce Nigeria's dependence on foreign blockchains like Ethereum. These foreign technologies may not fully align with Nigeria's national interests and could pose risks to data security and sovereignty.

Collaboration Across Sectors

NITDA is working in collaboration with both public and private sectors to bring this vision to life. This collaborative effort ensures that the blockchain technology developed will be robust, secure, and tailored to meet Nigeria's specific needs. By involving multiple stakeholders, the project aims to create a comprehensive and inclusive technology framework.

Ensuring Data Control

One of the key goals of the Nigerium project is to give Nigeria full control over its data. This means that the blockchain technology will be designed to comply with the country's laws and regulations, ensuring that data is managed and stored in a manner that aligns with national policies. This level of control is crucial for maintaining data integrity and security.

Broader Technological Initiatives

The development of Nigerium is part of a broader effort to establish research centers focused on AI, the Internet of Things (IoT), and blockchain technology across Nigeria. These centers aim to foster innovation, enhance technological capabilities, and position Nigeria as a leader in the digital economy.

Practical Takeaways

For Nigeria, the development of an indigenous blockchain like Nigerium represents a significant step towards achieving data sovereignty and enhancing national security. By taking control of its technological infrastructure, Nigeria can better protect its data and ensure that its digital systems are aligned with national interests. This initiative also highlights the importance of collaboration between public and private sectors in driving technological innovation and development.

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