Nigerian national blockchain policy gets government approval

The federal government of Nigeria– one of the worlds most curious nations about cryptocurrencies like Bitcoin (BTC)– has actually authorized a national blockchain policy during its conference on May 3, 2023. The approval was in reaction to a memo provided by Isa Ali Ibrahim, the Minister of Communications and Digital Economy.In the announcement, The Federal Ministry of Communications and Digital Economy (FMCDE) mentioned a report from PricewaterhouseCoopers (PwC) predicting the extensive adoption of blockchain technology across different markets could potentially contribute $1.76 trillion to the global gross domestic item by 2030, representing 1.4% of the worlds GDP. The FMCDE developed the nationwide blockchain policy through stakeholder assessments in both the private and public sectors.