Blockchain is Emerging as The Choice For Data Management
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Blockchain is Emerging as The Choice For Data Management

February 5, 2020      Zain Raza

Blockchain technology has emerged as the preferred choice for data management in a number of industries including healthcare, education, automobile and supply chain management to count a few. While governments are still pondering over-regulating cryptocurrencies, blockchain and distributed ledger technology have become a unanimous choice for the majority.

Toks Olaoluwa, The Managing Partner, Globenova Corporation, has suggested that the solution to provide firms with secure data that has integrity, lies in Blockchain. He believes that while Blockchain technology isn’t impeccable, but as its a new kind of data store with peculiar properties, it can complement other technologies well.

He went on to say that the reason behind Nigeria customs being one of the first to deploy blockchain technology is the “immutable, tamper-proof, reliable and resilient” qualities it carries. Also, its useful to add more integrity to votes and also serves well in land registration cases and e-voting.

More Love Pours For Blockchain

Somewhat similar sentiments towards Blockchain were shared by Vice President Product, Convergence Toronto Canada, Eric Zvaigzne, who revealed that Blockchain’s Global market size is on track to grow from $1.2 Billion in 2018 to $23.3 billion by 2023.

“The United Arab Emirates (UAE) has reaffirmed its goal to digital 50 per cent of government transactions using blockchain technology by 2021 and the United Nations, in order to deliver better on their mandate in the digital age, has stressed the need to embrace technologies like Blockchain that can help accelerate achievement of the Sustainable Development Goals,” he said.

He further enunciated that Blockchain’s capability to create high transparency amongst all parties that are involved is a massive plus as opportunities are cultivated more significantly as we utilize interconnected data with more proficiency.

Folashade Adefisayo, Commissioner for Education, Lagos, said in her speech that given her unflinching passion for learning and revolutionizing the education system, as an educationist she has kept up with modern trends like Blockchain. She further added that quality education would be the mainstay to a sustainable system which is technologically driven pretty soon.

She further promised that the government would give their best shot at creating an environment by means of policies and regulations that will take the educational sector up by a notch and contribute towards the society in a positive way.

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#Blockchain News #Blockchain Technology #Eric Zvaigzne #Lagos #Nigeria
Zain Raza
Zain Raza

Zain is a fervid fan of bitcoin and has been meticulously covering the field for a fair amount of time now. An aficionado of Spider man, Liverpool and Slim Shady.