The BLOCKCHAIN CENTRE Ibadan – Heralding the Adoption of The Blockchain Technology in Nigeria
The Blockchain Technology in Nigeria – BCC Holds Blockchain Conference – Scroll down for full program details, and click this link to reserve space at the Blockchain Conference
Imagine you not having a central bank regulating the circulation of money, or imagine the you have all the powers to manage what happens with your money rather than banks having powers over it.
Sure, the daily news is dominated by the wild swings in the price of Bitcoin and other cryptocurrencies, the Blockchain Technology is however way more than that.
From being a distributed database, to maintaining a growing list of records called blocks, to blocks containing timestamps and links to previous blocks, to blocks being resistant to modification and alteration of the data once recorded, there are so many bla bla blas involved in the Blockchain technology, it should however be stated that by design, Blockchains are decentralised secure databases.
The features above make the Blockchain Technology suitable for the recording of events, medical records, financial transactions, property or land registry, or any other record for that matter. The Blockchain makes these records fully public and decentralised. This means, any company or platform that uses the Blockchain technology is managed by its network, and not a Server.
Decentralisation here means the network operates on a user-to-user basis, eliminating third parties and central authorities as given in the first paragraph.
Advantages of The Blockchain Technology to Startups
The Blockchain technology has a vast potential of removing third parties for the global trades, presenting a big opportunity for startups. Even freelance jobs for the Blockchain technology have drastically increased. Also, the Blockchain technology is creating a new way of verifying transactions, and can make the traditional commerce irrelevant.
The Blockchain technology has a large potential to transform business models in the long term. More than just being a disruptive technology, the Blockchain technology has the potential to create new methods for global economic and social systems. This can be technology integrated into multiple areas.
Currently, finance is the main industry for using this technology, particularly international remittances. The World Bank estimates that hundreds of billions of dollars gets transferred every year using this technology.
The Blockchain technology facilitates businesses to use new approaches to digital transactions processes, such as payment system and digital currency, and implementation of prediction markets and generic governance tools.
The three main advantages of the Blockchain over traditional technologies are
- The Blockchain technology has built-in robustness, such that it cannot be controlled by any single entity, and there is no single point of failure.
- The Blockchain technology is transparent and incorruptible. It is a self-auditing digital system where the network validates every transaction that happens in frequent intervals. There is therefore no data corruption because of the way data is stored
- The Blockchain network has an enhanced security. It lacks centralised points of vulnerability, so it is safe from the hackers unlike the Internet that faces security problems that are familiar to everyone. The Blockchain security use encryption technology rather than username and password method of authentication. The basis for this is the public and private “keys.”
The Future of the Blockchain Technology in Nigeria and African Startups
The Blockchain technology is a perfect fit for a startup, if your startup has a clear reason for launching it’s own cryptocurrency. Also, moving to blockchain technology can save your company from the dying.
Currently, there are only a few publicly acclaimed Blockchain based Startups in Nigeria, including Exchanges (LUNO, Remitano, Bitpesa,), Businesses (Crypto Afrik, Magtech, Shopify, Cryptogene Datalife), and NGOs (Cryptography Development Initiative In Nigeria, Blockchain Solution Limited, Cryset).
The rush by startups into cryptocurrencies mirrors similar moves among publicly traded companies, where shares of several cheap, thinly traded stocks have spiked after merely adding the word bitcoin or blockchain to their names.
Many startup founders see crypto as the best path forward for their companies. The trend is particularly strong among startups that already employed a system of points or credits for transactions. Startups are turning to crypto to open more opportunity. It is a big opportunity for Startups.
The Blockchain Conference
It is Imperative to acquire the right knowledge that will help you as an individual to see how best you can leverage on this technology to lead your career and reshape your business.
The Blockchain Centre Ibadan therefore positions itself for the public acceptance and adoption of the Blockchain Technology in Nigeria with its first Blockchain Conference tagged “UNDERSTANDING BLOCKCHAIN TECHNOLOGY, ASSETS AND MAXIMIZING CRYPTOCURRENCIES IN THE 21ST CENTURY”.
The conference is slated for 26th, MARCH 2018.
TIME: 9.00 A.M
VENUE: IBADAN BUSINESS SCHOOL (70, Francis okediji street, old Bodija. Ibadan)
RSVP: +2347030501325
Reserve a seat for yourself click here
The conference is intended to enlighten, project and give OVER 1000 AUDIENCE, listening ears to the loud roaring BLOCKCHAIN TECHNOLOGY which is set to disrupt many industries including yours.
See you there
