Blockchain: Private sector & govt synergy expected in coming months – Yele Bademosi forecast.

In a recent Stakeholder’s Policy Dialogue on the Implementation of the National Blockchain Policy organized by the NITDA in collaboration with SiBAN, Yele Bademosi shared insights on the significance of an open and enabling environment for the private sector in driving innovation and investment within the blockchain space. He emphasized the importance of well-crafted policies that support growth while highlighting positive developments in Nigeria’s blockchain landscape.

Bademosi underscored the pivotal role of government policies in shaping the trajectory of blockchain technology. He emphasized the need for policies that are not overly restrictive, as overly stringent regulations can hinder innovation and investment. Such policies, if poorly formulated, can inadvertently stifle progress and hinder the potential of the burgeoning blockchain ecosystem.

One noteworthy development that Bademosi mentioned was the introduction of Nigeria’s National Blockchain Policy. This policy signals a positive stride towards recognizing the importance of blockchain technology and its potential contributions to the country’s economic growth. 

With a national blockchain policy in place, the foundation has been laid for fostering an environment conducive to innovation and development in the blockchain sector.

Bademosi’s optimism about the future of blockchain in Nigeria is fueled by interactions with various government officials. He expressed a positive outlook for the next 12 to 18 months, foreseeing a collaborative effort between the private sector and the government. The NITDA — SiBAN event, where private sector players engage, educate, and influence government stakeholders, serves as a platform for meaningful dialogue and cooperation.

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