As Nigeria continues to lead other African countries in crypto adoption, the authority is exploring ways to increase the adoption of crypto and blockchain technology. In a report issued by the National Information Technology Development Agency (NITDA), director general Kashifu Inuwa Abdullahi, announced that blockchain technology will be adopted to generate the National Youth Service Corps (NYSC) certificates. The executive admitted that blockchain technology has massive potential to transform the institution.
In his statement, Abdullahi confirmed that blockchain technology will be used to create and verify the certificates issued by the NYSC. In 1973, the Nigerian government launched the NYSC to promote national building and stimulate economic growth. The NYSC program has embraced a military setting aiming at instilling good morals to university graduates between the age of 30 years.
Nigeria Adopts Blockchain Technology in Learning Institutions
Ideally, the NYSC program runs for 12 months, where the qualified candidates are taught community development and cross-cultural integration projects. The attempt to promote the development of Nigeria has compelled the NYSC’s key stakeholders to leverage emerging technologies to realize the common goal.
At the Stakeholders’ Policy Dialogue held in Lagos, Nigeria, Mr Abdullahi outlined the features of the National Blockchain Policy. The meeting aimed to address the matter revolving around the management and operation of the NYSC. Notably, the August 9 meeting was sponsored by NITDA in partnership with the Blockchain Association of Nigeria (SiBAN).
For years there have been concerns about the originality of the certificates issued by the NYSC. According to the announcement, the executive mentioned that the NYSC program is mandatory for all Nigerian graduates. He added that the NYSC program has played a critical role in ensuring equal distribution of resources such as healthcare services, education and development of infrastructures.
Besides the benefits of the NYSC program, the executive was disgraced by the increase in counterfeited certificates. Mr Abdullahi confessed that the institution has been exploring ways to mitigate the issuance of fake certificates.
Importance of Blockchain Technology
In his report, the executive announced that the NITDA agreed to support NYSC in dealing with fake documents. After extensive studies on minimizing forged documents, the NITDA and NYSC agreed to leverage blockchain technology to issue the certificate.
Mr Abdullahi restated that the institution plans to issue the NYSC candidate a blockchain-focused certificate after completing the course. The executive mentioned that the central bank of Nigeria plans to support the NYSC program in integrating the proposed blockchain technology.
During the stakeholder engagement, the head of NITDA acknowledged that blockchain technology has massive potential to promote economic development. The executive stressed the need for blockchain technology in learning institutions.
Blockchain Techology Propels Nigerian GDP to Trillions
The executive projected that blockchain technology will increase the global GDP to around $1.7 trillion. Based on the endless benefits of blockchain technology, the executive underscored the significance of adopting blockchain technology.
A recent study by BWC revealed that if Nigeria could leverage blockchain technology, the country’s GDP could surge by $40 billion in the next decade.
A statement issued by the acting president of siBAN, Obinna Iwuno, envisions that adopting blockchain in NYSC will bring positive outcomes. Primarily Iwuno confessed that the Nigerian authority had adopted a friendly vision that would support the growth of the tech sector and the attainment of the end goals.
In a previous report, the authority embraced new policies highlighting the readiness to work with other agencies, including the SiBan, to promote the country’s economic growth.