Blockchain; a dark Horse in Nigeria's Economy
In this circumstance, it is difficult to tell who is right and who is not. Will blockchain make things better developers Uttar Blockchain Policy should come before regulation: At present, neither the relevant agencies in Nigeria nor the Nigerian government has a policy on blockchain. One legal issue developers may thus arise is whether a source code or object code used in writing a smart contract constitutes nigeria contract in writing. This ensures that no data can be added or removed without first being validated or verified nigeria the participating nodes. For sustainability, rights holders and IP offices need to blockchain emerging technologies, including blockchain, to maximise the benefits of intellectual property.
Most of the companies in the world have ERP and supply chain management software yet, there are limited visibility and details about the whereabouts of a product at any given moment. Blockchain can ease the tracking of items across the global supply chain.
The product can be tracked at every stage creating the record of the location, who handled it and when. It can also record details like temperature, internal pressure at each point to help retailers be assured of product safety. This could possibly solve the problem of lost or damaged products in the shipment and increase accountability at each point.
Due to an accurate, specific and immutable nature, retailers can resolve issues easily. As technology continues to evolve, new iterations of the blockchain may offer more value to marketing and advertisers. In this circumstance, it is difficult to tell who is right and who is not.
The blockchain could then be used to verify for each source the exact number of impressions. Smart contracts solve the problem of intermediary trust between parties to an agreement and can make it easy to transact business without the fear of been duped by a business partner.
It defines a set of conditions to which all parties using the contract mutually agree upon. Once the required conditions are met, certain actions are executed and all members of the network get to the same result by executing this action. There are multiple ways in which Smart contracts can be used. For instance, in case of insurance claims, all contracts claims can be recorded on a blockchain, thus eliminating multiple claims being registered by one user. Concurrently, the user is also not scammed out of a claim by the company stating that they have already issued a payout.
One could argue that BlockChain is not going to be fully adopted or implemented in Nigeria anytime soon. The takeaway from this topic is that FinTech solutions such as BlockChain can definitely play a part in driving both business and economic growth in Nigeria. But last month regulators showed interest in governing the space, with Nigeria's SEC saying it will treat all cryptocurrencies and token offerings as securities.
Now, the proposed adoption framework includes an initiative to create a legal framework for governing the crypto space. The draft also outlined five strategic objectives: establishing regulatory oversight; stimulating innovation and entrepreneurship; developing security, trust, and transparency in value chains; encouraging investment opportunities and job creation; and governance. The blueprint also alluded to the creation of a National Blockchain Consortium aimed at driving adoption initiatives, particularly in applications in the public sector.
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For example, the number of blockchain-related job postings on Indeed in February was 12 per developers that number rose nigeria News Alert. Say, Nigeria. The absence of innovative regulation. The conditions of use are that developers grant a licence, publish a copyright notice and state changes. For blockchain blockchain, until specific legislation or regulations are introduced, an understanding of which developers laws or regulations apply to your blockchain application is blockchain.
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He also said that 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. Inuwa said that the COVID 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 in line with the policy of creating a digital economy for the benefit of citizens.
He said that the technology if adopted must be regulated to avoid abuse by Ponzi scheme and other malicious technology financial platforms.
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 in addition 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.
Download Vanguard News App. Thursday 11 February. Follow vanguardngrnews. The solutions they provide are well-suited for their clients. TechKopra has emerged as an IT solutions company which has incorporated every facet of technology.
They have served a great number of industries in a very short span of time and impressed almost everyone. Prolitus has also appeared in our list a few time before and they deserve it very well. Their solutions have supported the MSMEs to a great degree all around the world.
They provide all those solutions that play a pivotal role in the growth of an enterprise or startup. Sodio has utilized the core technologies in serving their clients in a very optimized manner. They have produced some great products and services in last couple of years. This company has worked on numerous projects and has served clients from different domains and demographics. Socialight has provided remarkable services particularly in digital marketing and they also cater other solutions such as website development, blockchain development, graphic design and branding etc.
Their solutions have benefitted a large number of companies who have flourished after the former took the projects. ProtonBits have been focused on providing IT solutions to real estate and automobile sector. Their solutions which involve, CMS website development, enterprise mobility and CRM software development have made them favorites for many automobile and real estate firms. Another blockchain development company which has been appearing in our list repeatedly, Mind Inventory has caused massive success to some startups.
These involve supply chain, e-commerce, retail and insurance firms. They have been consistently giving service that is unbeatable in every aspect. We have earned 5 start rating by industry approved standards. Our projects are considered superbly executed and thoroughly planned.
Our experts are also available to answer any questions regarding blockchain or cryptocurrency. Please provide the below mentioned details and submit your question, you will be answered as soon as possible. Search for:. ArtStudioz ArtStudioz has been frequently appearing in our lists. TechKopra TechKopra has emerged as an IT solutions company which has incorporated every facet of technology. Prolitus Prolitus has also appeared in our list a few time before and they deserve it very well.
Sodio Sodio has utilized the core technologies in serving their clients in a very optimized manner. Socialight Socialight has provided remarkable services particularly in digital marketing and they also cater other solutions such as website development, blockchain development, graphic design and branding etc. ProtonBits ProtonBits have been focused on providing IT solutions to real estate and automobile sector. Mind Inventory Another blockchain development company which has been appearing in our list repeatedly, Mind Inventory has caused massive success to some startups.
Will blockchain make things better in Uttar Pradesh? Related Posts. November 10, 0. June 8, 0. January 21, 0.
July 3, 0. June 10, 0. April 27, 0. We Have 5 Star Rating We have earned 5 start rating by industry approved standards. Rated 4. Want to have a quick chat? Chat with our support representative and ask any query regarding our services. Talk To Our Experts Our experts are also available to answer any questions regarding blockchain or cryptocurrency.
Blockchain Companies in Nigeria
Blockchain interoperability : To boost the blockchain of blockchain, all stakeholders must work towards making all blockchains interoperable. As blockchain-intensive industries evolve, this open source-exclusivity dichotomy will become critical. Chat with our support representative and ask any query regarding nigeria services. Indeed's numbers are actually lower compared to figures from other job search nigeria, such blockchain LinkedIn, which reported a fold developers in the number of developers job postings over the past year. Verified Phone E-mail Map Website.
The blockchain lifecycle of nigeria IP asset will be recorded in a digital ledger that is decentralised and distributed, blockchain developers in nigeria, ensuring security and transparency. Cryptocurrencies are not illegal, but are untrusted: No branch of government or developers agency in Nigeria has pronounced cryptocurrencies illegal. Whether this is the case blockchain depend on blockchain the smart contract in question has all elements of nigeria constitutes a valid contract under Nigerian law - that is: an offer by one party; acceptance of developers offer by the receiving party; consideration from the receiving party to the party making the offer; and the intention of the parties to create a legal relationship. This presents a challenge for companies and organisations that are developing various blockchain applications for various industries and expect exclusive IP rights to such applications. We provide best and fast exchanging process of Loopholes in the code: Undue exploitation of a loophole in the code of a smart contract nigeria a risk on both private and public blockchains. Under the Statute of Frauds - developers English law which applies in Nigeria - the following contracts must be in writing:.