Cyberchain, Nigeria’s cybersecurity, and blockchain conference which took place from the 19th -20th November 2021 at the Oriental Hotel, Victoria Island, Lagos, Nigeria with the theme ‘Enabling The Digital Economy’ is one for the books as it will stay in the hearts of all attendees. This event brought in notable names in the public and private sector from far and wide in the cyberspace world. Among the panelist were Ronald Le, Founder/CEO – Bholdus, Chief Ronald Nwokedi, RedSwan CRE, USA, Mfon Attih, Head, Contract and Procurement NUPRC (Nigerian Upstream Petroleum Regulatory Commission).
Focusing on Tokenizing Nigeria’s Real Estate on the blockchain, Chief Ronald Nwokedi, Founder/ CEO RedSwan CRE, spoke about the revolution of the real estate industry in Nigeria with the use of blockchain.
” Blockchain brings in several utilities to the real estate ecosystem, amongst this are Smart Contract and Tokenization. With the use smart contracts, which are series of instructions written using programming language, real estates transactions can be executed”.
Speaking on the benefits of CRE (Commercial Real Estate) tokenization which are liquidity, accessibility, transparency amongst others, Ronald Nwokedi emphasized the need for the public to be well sensitized about the effects of blockchain in the real estate industry and also give details on the difference between crowdfunding and blockchain.
Mfon Attih, Head, Contract and Procurement Nigerian Upstream Petroleum Regulatory Commission (NUPRC) reiterated further the need to embrace blockchain as it plays a vital role in boosting the operational efﬁciency of the oil and gas industry. Speaking on the topic ” Embracing Smart Contract for Oil and Gas Procurement, she said the joint use of smart contracts and other distributed ledger technology like blockchain removes typical barriers and facilitates the deployment of inter-organizational processes. It can also contribute to its sustainability in the near future.
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During the 1st panel with the topic ” Blockchain Adoption in Nigeria” at the cyber chain conference which had in attendance Emmanuel Anehit, Binance, Senator Ihenyen SiBAN (Stakeholders in Blockchain Technology Association of Nigeria), and Chief Edward Nwokedi, Emmanuel expressed that leaving crypto in the hands of the central bank of any country breeds malice.
“The public should not think that they government will stop the several attacks on cypto, he said, no government in the world will be happy that a foreign currency will be doing better than their own local currency all over the world” he said.
The Cyberchain conference was sponsored by Nigeria Communications Commission, Binance, Zinochrome, Lagos State ESports Association amongst others.