- July 15, 2021
- Posted by: adminer
- Category: Finance
Report says that blockchain technology could substantially add $29 billion to the Nigeria’s Gross Domestic Product (GDP) by 2030.
The new report was released by Enhancing Financial Innovation and Access (EFInA) and predicted that blockchain technology could address barriers to financial inclusion.
Titled, ‘Potential of Blockchain for Financial Inclusion in Nigeria,’ the report outlined the potential of blockchain to drive financial inclusion and illustrates potential use cases of blockchain technology.
Driving financial inclusion in Nigeria has been highlighted by the Central Bank of Nigeria (CBN) as a key objective.
However, EFInA’s 2020 Access to Financial Services in Nigeria Survey highlighted that financial inclusion in Nigeria stands at 64 per cent, falling short of the National Financial Inclusion Strategy of achieving 80 per cent financial inclusion by 2020.