In an effort to build nation-building capabilities, the National Information Technology Development Agency (NITDA) urged young people on Friday to upscale their talents in emerging technologies. Kashifu Inuwa, Director-General of NITDA, made the call at the 2022 Blockchain Developers’ Summit at Baze University, Abuja. Inuwa spoke about how Blockchain Technology can support Digital Transformation and enable Nigeria to develop into a digital economy.
Nigerian Digital Transformation and NITDA Commitment
He said that NITDA was committed to creating, and stimulating the ecosystem for Blockchain technology and ensuring that Nigerian innovators thrived. ”There are a lot of opportunities in Blockchain and it is critical in every business.
”Talent is the human component of technology and innovations with Blockchain and emerging technologies are about the new solutions one is bringing onboard. “So, you need to ask yourself to know which solutions or offerings the industry requires,” Inuwa said.
According to him, the time for Nigerian youths to leverage the growing digital sector to tackle the nation’s challenges is now, despite ethnic differences, because innovative ideas cannot be monopolised. He said, ”Innovation is beyond invention, it needs to get to the point of commercialisation and until you can pitch your idea for someone to pay for your solutions, the innovation would, sadly, only be just an idea.”
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According to him, the government is building an ecosystem that will enable young ones to hatch their ideas from conception to realisation. NITDA boss also emphasised the need for the participants to have venture capitalists who would invest in their innovative ideas. The D-G also said that the organisation had developed the Blockchain adoption strategy to help stimulate the adoption of blockchain in the country.
He said that it would establish the Nigerian Blockchain Consortium which the summit would address. Other steps to ensure the development of blockchain technology include strengthening developmental regulation and law and finding focus areas.
Promoting Literacy and Blockchain, Digital Innovation Incentivisation, and the Startup Bill which has passed through the third reading at the National Assembly are also other steps. Inuwa charged Youth Corps Members to take advantage of the opportunity and start a business before the end of their service year and possibly always ensure to be among the first movers in any digital-related endeavour.
The D-G also inaugurated the Baze University Artificial Laboratory in the company of some international innovators.
The summit was attended by no fewer than 1,500 participants, comprising majorly the National Youth Service Corps Members.
Gaining prominence rapidly, blockchain technology is counted among the hot trends that businesses must keep an eye on to stay ahead. Everyone is eager to learn about this new trend as it brings about significant advancements and new opportunities in every industry, whether it is banking, healthcare, cyber security, advertising, or finance.
Opportunities in Blockchain Technology
Anyone who is familiar with the term ‘cryptocurrency,’ will know that blockchain technology lies at the heart of Bitcoin. The best thing about this tech trend is that it cannot be hacked or changed, and this digital ledger is used to store transaction records in a verifiable and distinguishable manner.
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Besides providing a building foundation for immutable ledgers, blockchain has several marketable career opportunities too. Let’s understand the applications and opportunities of blockchain technology in the upcoming years:
Applications Of Blockchain By Field
In Finance:
Blockchain technology provides hands-down efficiency when it comes to tracking financial properties. It provides a transparent ledger system, making it even easier to track and tackle the inflow and outflow of cash.
In Cloud Storage:
With the successful implementation of blockchain technology, cloud storage can become extra secure against the attacks of hackers. It reduces unauthorized data tampering while encrypting the data using cryptography.
In Cyber Security:
As discussed earlier, blockchain uses principles of ledger technology and decentralization, making it a perfect fit to fortify cyber security. It helps secure private messaging by forming an integrating API framework that eventually enables cross-messenger communication proficiency.
In Digital Advertising:
Digital advertising faces many challenges now and then, including bot traffic, opacity, domain fraud, and insufficiency of payment models. Still, with blockchain technology, one can resolve such issues, and all the transactions can now be dealt with seamlessly.
Career Paths In Blockchain
Blockchain is in its embryonic stage and has a lot of scope for evolution in the coming future; with the trend still undiscovered by many, one can find lesser competition in the field in terms of job opportunities. Take a look at the career opportunities you can consider if you wish to embrace blockchain technology at a time when it’s showing exceptional potential:
- Blockchain Developer
- Blockchain Project Manager
- Blockchain UX Designer
- Blockchain Quality Engineer
- Blockchain Legal Consultant
- Blockchain Solutions Architect
Other alternate career options: accountants, public relations, crypto brokers, analysts, and crypto marketers. Now can be the best time to dive into the depth of blockchain technology and learn as much as possible before the competition escalates.
Summing Up
There shouldn’t be any hesitation in accepting that blockchain technology will benefit and attract several potential businesses and organizations, all of which will inevitably invest in it. While it will act as a cure to fight several adversities prevalent in the market, the technology has many more miles to cover.
In the course of time, there will be notable growth in this arena; no matter if you are a tech enthusiast or not, blockchain technology has new and exciting job and investment opportunities to offer, all of which are worth exploring.
