Blockchain is a technological innovation that has the potential to revolutionise various industries and sectors of the economy for the good of all. Across the globe, blockchain is adding value by bringing unprecedented trust founded on openness, safety, and transparency to transactions and processes, thereby minimizing risks, eliminating leakages, saving costs, and improving lives.
Today, as the adoption of blockchain technology builds up in developed economies, Nigeria is lagging behind in the adoption of the technology for innovative solutions across various industries and sectors. Today, Nigerians are known to be the largest adopters of cryptocurrency in Africa and continue to contribute significantly on global cryptocurrency platforms. Apart from cryptocurrency, blockchain technology provides immense opportunities for rapid growth and development across various industries. But without collaboration amongst early adopters, there is an increasing risk of destroying what has been built if we fail to ensure safeguards, avoid regulatory risks, and win trust across board, locally and internationally.
As the biggest economy in Africa and the most populous black nation in the world with socio-economic and political challenges in a global economy, there is great need to build a consensus towards leveraging blockchain technology to address socio-economic and political problems.
This is why as blockchain lovers and players in Nigeria’s nascent blockchain community, we have decided to come together as stakeholders under a blockchain association. We want to drive blockchain education, investment, and adoption in both private and public sectors in Nigeria through education, research, and collaboration. Apart from these, we also wish to grow, nurture, and sanitize the blockchain and cryptocurrency community towards ensuring a healthier and safer environment for the adopters and users of the technology regardless of the industry. We wish to be a self-regulatory association, helping to ensure that players in the blockchain and cryptocurrency operate legally, comply with regulations, and imbibe global best practices, achieving consumer protection and public confidence.
We, the promoters and members of the Stakeholders in Blockchain Technology Association of Nigeria (SiBAN), in order to realize our vision, mission, and objectives and in order to grant and secure the rights of our members, do firmly resolve to establish for ourselves SiBAN and be governed by our Constitution.
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