Tinubu to youths: We will encourage use of blockchain technology in crypto assets

  Bola Tinubu, the presidential candidate of the All Progressives Congress (APC), says his administration will encourage the use of blockcha…

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Bola Tinubu, the
presidential candidate of the All Progressives Congress (APC), says his
administration will encourage the use of blockchain technology in finance and
cryptocurrency assets if he is elected into office.

Blockchain
technology
 is an advanced database mechanism that allows
transparent information sharing within a network.

In 2021, the Central Bank of Nigeria (CBN) directed all banks
in Nigeria to close accounts of persons or entities involved in cryptocurrency
transactions within their systems.

Explaining the decision, Godwin Emefiele, CBN governor, said
it was in the best interest of
citizens.

Speaking on Friday at a town hall meeting with youths in
Abuja, Tinubu said his administration would implement policies that would
enable them to take advantage of the opportunities in ICT.

“I promise a thriving digital economy where those interested
in pursuing careers of integrity in ICT will be able to do so,” he added.

“We will also ensure that Nigeria can take greater advantage
of relatively recent innovations such as blockchain technology.

 “I promise to invest
in the infrastructure required to boost an already-successful entertainment
industry. Working with private sector partners we will bridge the existing gaps
to build modern media centers and upgrade existing entertainment venues and
stadia across the country to world-class standards.

“My administration will reform the education sector by
focusing on quality, access, funding, management, effectiveness, and
competitiveness.

“I promise, we will provide good and quality education in
tune with 21st-century demands.”

Tinubu also said under his administration, youths would
become leading catalysts to drive economic prosperity.

 “You will be
empowered for individual and collective success. There will be opportunities
across the board, and they will be for you. Let us go together,” he said.

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