Internet Computer Protocol (ICP) is encouraging Nigerian youths to dive into blockchain technology to boost their global competitiveness. During the second DecaHack event at the University of Ibadan (UI) in Oyo State, Adedayo Adebajo, co-founder of ICP Hub Sahara, shared this message.
Blockchain Tech Adoption
Adebajo noted the importance of adopting blockchain technology for Nigeria’s future. He warned that ignoring this tech could hurt the country. Ironically, Nigerian government believes that cryptocurrencies can hurt Nigeria’s economy.
Additionally, Ucheena Agams, Web3 ambassador for Arbitrum, gave a key presentation titled “The Future of Interoperability: How Web3 Innovators Can Bridge the Gap Between Blockchain and DApps.” He explained how Web3 technologies could connect different platforms smoothly. Agams highlighted that Web3 innovators play a crucial role in solving the interoperability gap, which is vital for a unified blockchain ecosystem.
Agams also talked about front-end development, showing how important it is to create user-friendly interfaces for websites and apps. His session underscored the role of front-end developers in making blockchain technology accessible to more people.
Support for Startups
The ICP is a public blockchain that supports smart contracts. Developers use it to build decentralized applications (DApps) and non-fungible tokens (NFTs).
The DecaHack event is part of an ICP initiative that includes online blockchain boot camps, hackathons, and pitch competitions with great prizes. It brought together innovators, and experts from across Africa, promoting discussions and networking to advance technology in the region.
DecaHack organizers announced that the top five startups would get up to $25,000 in grants without giving up equity. These winners will also advance to the national grand finale, Nigeria’s biggest blockchain hackathon conference. Additionally, all finalists will receive advisory support, mentorship, and access to ICP grant applications.
By encouraging Nigerian youths to get into blockchain technology, the initiative aims to prepare them for success in the global digital economy. This approach is expected to drive technological innovation and contribute to building the nation. It also ensures that Nigeria remains competitive in the fast-changing tech world.
Recently, Nigerian stakeholders called the country’s Securities and Exchange Commission (SEC) to classify bitcoin and ether as commodities.
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