Cryptocurrencies and Blockchain Technologies Cannot Be Wished Away!

Dr David T Isiavwe, President of the Information Security Society of Africa – Nigeria (ISSAN), has stated that Blockchain technology cannot be wished away and that Nigerians must, therefore, embrace it with alacrity. Giving the Keynote address at the Nigeria Blockchain Conference in Lagos, he stressed the need to leverage the technology to create prosperity and freedom for humanity.

The two-day event took place from 14-15 August 2017 and was organized by the Nigeria Blockchain Users Group. It was the first of it kind to take place in the Africa’s most-populous nation.

The ICT Security expert urged participants to consider Blockchain and Cryptocurrencies serious since it is one of the best things that has happened to mankind. He noted:

“The reality that is before us today, particularly in Nigeria, is that the Distributed Ledger Technology (DLT), Blockchain and Cryptocurrency are facts that we must face, whether we like it or not. We cannot wish this reality away. It is made worse when we realize that we are still grappling with current challenges of e-commerce and other electronic payment systems but technology development and advancement are not waiting. In this dynamic age that we find ourselves, the only mantra to survival as is propagated by Information Security Society of Africa – Nigeria (ISSAN) is: ‘Innovate or Die!'”

Dr. Isiavwe maintained that Nigeria, as a significant and strategic player in the scheme of things in Africa, should start the discourse on the nascent reality that faces the country today which has Blockchain and Cryptocurrency at its core. He believes the mandate of the Nigeria Blockchain Users Group which is to create awareness about Blockchain and Cryptocurrencies is in tandem with his organization.

Business and Regulatory Environment

From his standpoint businesses should not be reluctant in integrating the technology and completely redesigning their models. For him, this is the only way for such outfits to remain productive and profitable in this era.

He also called on the regulatory body to create a conducive atmosphere for Nigerians to tap into the copious potentials of Blockchain technologies. If the regulatory authorities care to ensure inclusive financial system, then cryptocurrencies are the best means to achieve that.