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Expert Task Firms to Explore Blockchain for Data Security

The Managing Partner, Globenova Corporation, Toks Olaoluwa, has said that Blockchain Technology can provide firms with secure data that has integrity.

Speaking during the inaugural Lagos Blockchain Technology conference recently, he noted that Blockchain Technology is not magic but a new kind of data store with some unique properties that complement other technologies.

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According to him, Blockchain is immutable, tamper-proof, reliable and resilient. He added that Nigeria Customs is one of the first in the world to deploy Blockchain technology.

Olaoulwa stressed that the technology is also good for land registration and e-voting that can secure the integrity of votes.

Similarly, Vice President Product, Convergence Toronto Canada, Eric Zvaigzne has disclosed that the Global Blockchain market size is expected to grow from $1.2 Billion in 2018 to $23.3 billion by 2023.

“The United Arab Emirates (UAE) has reaffirmed its goal to digital 50 per cent of government transactions using blockchain technology by 2021” and the United Nations, in order to deliver better on their mandate in the digital age, has stressed the need to embrace technologies like Blockchain that can help accelerate achievement of the Sustainable Development Goals,” he said.

He added that Blockchain is good at creating high transparency across multiple parties adding that opportunities grow as we become more interconnected to make better use of our data.

In her speech, Commissioner for Education, Lagos, Folashade Adefisayo, who was represented by Oyetola Olufunke, stated that as an educationist with unflinching passion for learning, schools transformation and capacity building, I have been driven with new trends towards engineering quality education aimed at being at par with the 21st-century standard, which is a pivot to a sustainable and technologically driven system in no distant future.

She added the government will leave no stone unturned in providing the enabling environment through formulation of policies and regulations that will make the sector more conducive for learning and contribute to the growth of the society.