Across Africa, blockchain technology is quietly revolutionizing the way people interact with markets, governments, and services. The power of blockchain lies in its potential to address some of the continent's most pressing challenges, from financial inclusion and supply chain transparency to governance and healthcare.

Soramitsu, a global leader in blockchain solutions based in Japan, has teamed up with the Nigerian Institute of Social and Economic Research (NISER) to advance blockchain technology research, capacity development, and practical application in Nigeria. This partnership was announced in a press release on September 11.

The collaboration aims to establish a Knowledge-Industry partnership in which NISER will provide local knowledge and research analysis. At the same time, Soramitsu will enhance the capacity of NISER's research faculty and other Nigerian knowledge centers in blockchain technology.

Soramitsu delivers blockchain-based solutions for enterprises, universities, and governments worldwide. It has experience working on several high-profile blockchain projects, including developing the Bakong Central Bank Digital Currency (CBDC) for the National Bank of Cambodia, among others.

NISER, Nigeria’s premier public policy think-tank, has a history of contributing to the nation’s public policy formulation and analysis. The institute has been instrumental in the development of several key national plans, including the First to Fourth National Development Plans, the Economic Recovery and Growth Plan (2017-2020), and the current Medium Term National Development Plan (2021-2025).

The partnership aligns with Nigeria's national blockchain policy established in May 2023. This policy serves as a roadmap for adopting and utilizing blockchain technology across various sectors in Nigeria. By fostering research, capacity building, and practical implementation of blockchain through this collaboration, the initiative supports the government’s goal of harnessing blockchain for economic growth, financial inclusion, and reducing inefficiencies. This move positions Nigeria to effectively leverage blockchain technology in line with its policy, promoting a more innovative and digitally advanced economy.

Hikmatu Bilali