Blockchain technology has become a groundbreaking advancement in the digital age with the potential to revolutionise many industries, from finance and healthcare to transportation and supply chain management. Transactions can be made more transparent, trustworthy, and efficient, which will result in considerable cost savings and better user experiences. As a result, governments all over the world are exploring how to leverage blockchain technology to boost innovation, improve public services, create job opportunities, and drive economic growth.

The government has a significant role to play in the adoption and regulation of blockchain technology in Nigeria. Several countries have adopted blockchain technology, most notably Estonia, Georgia, the United Arab Emirates (Dubai), Switzerland, and Singapore.

It is important to note that the adoption of blockchain for digital economy activities is still in its early stages, and there are many challenges and obstacles that must be addressed before it can become widely implemented across different sectors.

The Federal Government of Nigeria promotes the adoption of this technology through the National Blockchain Policy to improve the quality of services delivered by the public and private sectors, catalyse innovation, create jobs, and enhance governance, which will grow the economy. The policy will serve as a roadmap for Nigeria’s adoption of blockchain technology in the future.