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The Nigerian Federal Government on Thursday May 4 approved the use of blockchain technology to improve the efficiency, transparency, and security of various sectors, including financial services, supply chain management, healthcare, identity management, and the electoral system.

Blockchain technology is a digital system that records transactions in a secure and decentralized manner, meaning that no single person or entity controls the system. It uses a network of computers to verify and record transactions, which are stored in blocks that are connected together in a chain.

Once a block is added to the chain, it cannot be altered, making it very difficult to tamper with or falsify the records. This technology is often associated with cryptocurrencies like Bitcoin, but it has many other potential applications, such as in financial services, supply chain management, and identity verification.

Blockchain technology has numerous potential benefits for Nigeria, including improving the efficiency, transparency, and security of various sectors in the country. Here are some of the key benefits:

Financial services: Blockchain technology can provide access to financial services for the unbanked population in a cost-effective, efficient, and secure manner, which can reduce the rate of dissatisfied customers recorded in the banking sector. This could also help to solve issues like unresolved complaints and the threat to the use of e-payment.

Supply chain management: Blockchain can help businesses pinpoint inefficiencies in their supply chains quickly and locate items in real-time. For Nigeria, being an agricultural-based economy, the technology can be used to track the origin, quality, and safety of agricultural products to improve consumer confidence and prevent food fraud.

Healthcare: Blockchain technology can be used to manage clinical trial data and electronic medical records in healthcare, ensuring regulatory compliance and maintaining the privacy and security of patients data.

Identity management: Blockchain-based solutions can be used for identity management in Nigeria, giving individuals control over their identity, improving the accuracy and security of identity verification processes.

Electoral system: Blockchain technology can enhance the transparency and security of the voting systems in Nigeria, preventing voter fraud and ensuring the accuracy of election results.

As online payments continue to rise, interest in blockchain technology has grown among retailers and wholesalers. Several countries have emerged as leaders in adopting and implementing this technology.

Japan was among the first adopters of blockchain technology, even before Bitcoin had any real value. The innovator of Bitcoin is rumored to be Japanese, given the name Satoshi Nakamoto, which resembles a typical Japanese name. The Japanese government is also aiming to lead global blockchain innovations.

Despite banning crypto mining and cryptocurrency, the Chinese government strongly supports blockchain technology and is one of the largest and most powerful promoters of blockchain worldwide.

Switzerland is another country that has made significant strides in blockchain. A small town in Switzerland called Zug, with a population of 29,000, is even known as the home of the Ethereum network. Switzerland has approximately 450 blockchain-based associations and businesses, and it provides liberal regulatory and tax treatment for newly established blockchain businesses.

One of the disadvantages of blockchain technology is its energy consumption. The complex mathematical algorithms used in blockchain require significant amounts of computing power, which in turn requires large amounts of energy. This can lead to high electricity bills and contribute to environmental concerns related to carbon emissions.

Nigeria can adopt blockchain technology despite its low electricity generation. There are initiatives and projects aimed at increasing access to renewable energy sources, which could support the adoption of blockchain technologyinthecountry.

Writing by Chinasa Ossai; Editing by Annabel Nwachukwu and Saadatu Albashir

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Bitcoin (BTC) has been a key player in the growth of cryptocurrencies over the past decade. It has not only increased in value but has also paved the way for new coins and digital assets to emerge. Its impact on the financial industry cannot be underestimated. In this article, we will explore the significance of Bitcoin for the cryptocurrency market and how it can potentially promote the growth of new coins such as Dogetti (DETI).

Bitcoin, the first decentralised cryptocurrency, was launched in 2009 by a person or group under the pseudonym Satoshi Nakamoto. In the years since its creation, Bitcoin has evolved from being a novel currency experiment to a valuable asset worth more than $1 trillion. As of now, it has finally broken through the $30,000 trading price barrier, a significant milestone that underscores its remarkable growth.

Bitcoins success has not only led to its wider adoption but also spawned the creation of altcoins, which are built on similar technology to Bitcoin but have distinct features that set them apart. Altcoins have been able to gain ground in the market due to Bitcoins success and the increasing public interest in digital finance.

As Bitcoin continues to set the benchmark for the cryptocurrency market, new coins like Dogetti are encouraged to demonstrate their unique value propositions to attract investors. Bitcoins success has set a standard for performance that new coins must surpass, prompting them to compete by providing distinct features or outperforming Bitcoin in the market.

Dogetti, a new meme-based cryptocurrency, has generated significant excitement in its presale stages, securing millions in funding through investment and creating a strong brand image centred around the concept of family. This notion is reflected in Dogettis ecosystem, which shares its earnings with DETI token holders and allows them to participate in the platforms decision-making processes. Through a lighthearted approach involving mafia metaphors, Dogetti has managed to build a community and generate interest, leaving it poised for an exciting launch.

In addition to its impact on the market, Bitcoins growth has also attracted the attention of investors looking for new opportunities in the cryptocurrency space. As a result, new coins have been able to secure funding and build their communities, leading to a vibrant ecosystem of digital assets, including Dogetti, which stands out as one of the more intriguing and exciting prospects.

Bitcoin has played a significant role in introducing blockchain technology to the world and revolutionising digital finance. Its impact extends beyond being a benchmark for other cryptocurrencies, as it has paved the way for new possibilities in financial services. Blockchain, the technology behind Bitcoin, is a decentralised ledger that securely and transparently records transactions. Its introduction has opened up possibilities for decentralised finance (DeFi) applications, enabling users to access financial services without intermediaries like banks.

DeFi applications have gained popularity in recent years and attracted significant investment. The introduction of blockchain technology by Bitcoin has paved the way for the growth of DeFi and other digital finance applications. As the cryptocurrency market continues to grow, Bitcoins importance in shaping the future of digital finance becomes more apparent.

Bitcoin has had a significant impact on the cryptocurrency market by introducing blockchain technology and paving the way for new possibilities in digital finance. DeFi applications and other blockchain-based financial services have gained popularity and attracted significant investment. As the market continues to grow, Bitcoins role in shaping the future of digital finance remains crucial.

For More Information On Dogetti (DETI):

Presale: https://dogetti.io/how-to-buy

Website: https://dogetti.io/

Telegram: https://t.me/Dogetti

Twitter: https://twitter.com/_Dogetti_

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Bitcoin Surges Past $30k: What It Means For The Crypto Market And ... - NewsWatch

Blockchain is one of the most disruptive technologies of the past two decades, going through several hype cycles before the metaverse and AI took center stage. By powering cryptocurrency, NFTs, DeFi, and web3, blockchain promised to usher in a new era of decentralization. However, a closer look at how most blockchain projects operate under the hood inevitably suggests that such decentralization is yet to become a reality.

Decentralization has always been at the center of the blockchain movement, which promises it is the key to ending the need for central authorities and intermediaries. However, it is important to note that decentralized projects existed long before blockchain, especially through P2P protocols and projects like Gnutella (2000), The Pirate Bay (2003), and BitTorrent (2001). It was this type of protocol that would come to popularize the term peer-to-peer, which Satoshi Nakamoto would later use to introduce Bitcoin through their 2008 whitepaper.

While the history of decentralized protocols is complex and their individual journeys differ between them, there are some similarities. These range from emerging as a response to authority to their heavy dependence on activism. However, one of the more paradoxical similarities is their reliance on centralized services.

A great example of the need for such services is The Pirate Bay, which often refers to itself as the galaxys most resilient BitTorrent site. Having been around for two decades, the site has become synonymous with P2P piracy, facing multiple takedown attempts by law enforcement in cooperation with organizations like the Alliance for Creativity and Entertainment (ACE). However, while it is decentralization that makes it possible for TPB and similar projects to still be active, the team has relied on centralized tools, technologies, and strategies to remain operational.

It is possible to argue that many blockchain projects are nothing like The Pirate Bay but closer to protocols like BitTorrent. This is something that Vitalik Buterin has pointed out when talking about DAOs and censorship resistance. However, this opens a new can of worms, shifting the discussion to the topic of governance and development.

The risks of faulty governance models are ones that blockchain entrepreneurs, developers, and analysts know very well. Most blockchain projects rely on governance models like DAOs in an attempt to give all users an equal say in decision-making. Unfortunately, as a means to ensure those participating in the governance have the best interest of the project in mind, this decision-making is often linked to token holding volume, which results in whales gaining unparalleled power.

DeFi researcher Thor Hartvigsen found back in February that some of the most popular DeFi protocols already are or will be controlled by whales in the near future. Other experts like Blockstreams former Chief Strategy Officer Samson Mow have also pointed out that the ability of certain entities to modify DeFi protocols disproves their claims of decentralization. Whether it is whales dominating a DeFi protocol or individuals taking action against whales, the need to balance the interests of all parties without compromising decentralization is clear.

The Blocks Editor-at Large Frank Chaparro sat with Souqs Co-Founder & CEO JonPaul Vega, Framework Ventures Principal Brandon Potts, and Parallels Co-Founder & Head of Game Design Kohji Nagata, to talk about Aligning Stakeholder and Protocol Interests. The panel, which was part of this years edition of Grit Daily House at Consensus, touched on topics ranging from how to identify quality stakeholders to what proper decentralization looks like.

To learn more about how blockchain projects can become more decentralized by aiming to align their own interests and those of their stakeholders from the start, make sure to watch the panel on Grit Dailys official YouTube Channel or the video below.

Juan Fajardo is a News Desk Editor at Grit Daily. He is a software developer, tech and blockchain enthusiast, and writer, areas in which he has contributed to several projects. A jack of all trades, he was born in Bogota, Colombia but currently lives in Argentina after having traveled extensively. Always with a new interest in mind and a passion for entrepreneurship, Juan is a news desk editor at Grit Daily where it covers everything related to the startup world.

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The Search for True Decentralization: Why Aligning Interests Early is ... - Grit Daily

It seems that the world is in the midst of an explosiona metaphorical one, of course, which was the main topic of discussion in the latest installment of theCoinGeek Roundtable. On the shows sixth episode, Becky Liggero and industry experts tackled the ongoing boom of the Internet of Things (IoT) and what it meant for the future.

The expert panel

Joining Liggero for the lively discussion were three leaders in IoT and blockchain technology. First was Sebastian Grabowski from Orange Business Services, an expert not only on IoT but on smart cities and edge enterprise architectures.

Also part of the panel wasStephan Nilsson, the CEO and co-founder of UNISOT. Nilssons company is geared towards building supply chain solutions and focuses on supply chain traceability and sustainability.

Rounding out the panel wasAlessio Pagani. He is the Research Director of nChain, a powerhouse in blockchain research and development with thousands of patents under its name.

Its a market that is exploding

In its simplest sense, IoT refers to pieces of technology or things that can communicate and exchange data through the Internet. This includes a nearly incomprehensible amount of hardware worldwide, even now, as the industry is still relatively young.

When asked about what we can expect to see in five or ten years, Pagani likened the industrys movement to an explosion.

All the devices are expanding, and this is a market that is exploding, he said, adding that there will be an expected 30 to 40 billion IoT devices by 2025. This number is doubling like almost every two years. This is something that we cannot ignore, and this is a market that we need to move to Web3.

Grabowski thinks that the estimation might even be on the low end since there is a tendency for smart devices to be lumped together and counted as just one system.

I think that its even hard to estimate how much there is currently and how much there is going to be in the very soon future. Billions. Trillions, Grabowski explained.

And when blockchain and IPv6 are added to the mix, Nilsson believes there is even more incentive to put IoT devices in even more places, driving the estimates upwards.

IoT, blockchain & supply chain

One question from the audience during the livestream dealt with blockchain and how it can help with the security and privacy of IoT devices.

Pagani, representing a company whose bread and butter is blockchain, explained that they usually define security using the CIA triad of Confidentiality, Integrity, and Availability.

Blockchain already covers, by default, availability and integrity of data because its an immutable ledger and transparent ledger, he said. He then went on to explain that while confidentiality is a bit more complicated, there exist some cryptographic techniques that allow for the storage and encryption of data.

Another viewer asked how IoT can be used in thesupply chain space. Nilsson answered that there are definitely a lot of initiatives that deal with different blockchains, IoT, and supply chains. However, with the diversity of options available, its not a simple task to make things work.

The problem I see there is that most companies are trying to use private blockchains, Nilsson said, explaining that these are not really blockchains but rather replicated databases. That does not work. So thats the difference here, that you have to connect to a supply chain. You need to use apublic blockchain.

A really, really big revolution

Of course, when people speak of blockchain, talk of payments is usually not far behind. However, not all blockchains are created equal, and certainly not all are capable of handling what many call the payments of the future:micropayments.

On their own, IoT devices can neither receive nor send payments. But add blockchain to the mix, and you enable new aspects of these devices that werent possible otherwise. One example given by Pagani is installing a large device in a place where millions of people may need information that the device holds.

Everyone pays a cent of a cent, so its nothing for you, but for the company providing those devices, its a new business model, Pagani said. Of course, to do that, you need a blockchain like BSV that allows for micropayments. Its very convenient, its cheap, its fast, and this is like a technique for creating new business cases.

Grabowski, on the other hand, describes micropayments as a really, really big revolution in the market. He says that normally when you have companies that own devices or censors, they sell the data gathered to the government or another private company. Blockchain simplifies the entire process and provides access to more parties.

A big problem with most supply chains today is that they are only made for the biggest companies, Nilsson chimed in. But by using the BSV Blockchain that is very scalable and very cost-efficient, that allows us to actually involve the small actors in the edge of a supply chain and buy it.

This way, Nilsson said that even small fishermen and farmers have the incentive to collect data, an initiative that he called gamifying data collection.

To regulate or not to regulate?

So where does government fit in regarding the future ofIoT and blockchain? Should they have a hand in regulating these industries, or should they keep their hands off?

Grabowskis response to this question was a simple I dont know. After all, he explained that the situation now is far different from five or 20 years ago. The times have changed, but it is not necessarily more obvious when it comes to determining whether government or private corporations are in control.

Meanwhile, Nilsson tells the government to stay away and do as little as possible.

The blockchain was created bySatoshi Nakamoto, and it was actually created as a system that was completely legal, compliant with all international laws, Nilsson conveyed. So we already have all the laws that are needed to run blockchain and to use blockchains. We dont need any new laws for that.

Aside from the topics above, CoinGeek Roundtable also touched on 5G, IPv6 integration, and many more.

Check out the previous Roundtable videos onCoinGeeks YouTube channel.

Watch: CoinGeek Roundtable with Joshua Henslee on AI, ChatGPT, and Blockchain

New to Bitcoin? Check out CoinGeeksBitcoin for Beginnerssection, the ultimate resource guide to learn more about Bitcoinas originally envisioned by Satoshi Nakamotoand blockchain.

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The IoT explosion and blockchain discussed on CoinGeek ... - CoinGeek

Japan has a reputation for being a futuristic and technologically advanced country, so no wonder that the first DAO conference in Asia was held in Tokyo. Lots of people attended the event this April, the overwhelming majority of them foreigners. However, that does not mean that Japan is not interested in crypto; on the contrary, Japan has seen massive growth in its crypto market and wide adoption by the Japanese government, which recently announced their plans to invest in NFTs. One project that has been gaining traction in Japan and around the world is Signuptoken.com, this upcoming player promises to make one million millionaires worldwide by 2025 through its referral system and no presale mantra.

Read on to find out more.

Signuptoken.com is a new crypto project that has been making a name for itself among crypto enthusiasts and investors, with its crypto referral system that grants rewards to both the refer and the referred and its adoption on a no-presale model. It also shares Web3s principles of inclusion and equity by forgoing a presale; which gives everyone an equal shot at acquiring tokens. But how much does it cost to get involved in this DeFi project? Nothing! All you need to do is sign up with your email address at signuptoken.com and youll be added to the loop, youll know when the release date is and where to buy the tokens once they are released.

Enthusiastic investors and tech heads from all over the world converged on Tokyos Kanda Myojin Shrine to attend DAO Tokyo 2023; a conference dedicated to DAOs. Several people from all niches of the industry gave talks, and the conference also featured several other activities that demonstrated the potential of decentralized technology. Japans government has revealed its intentions to make Japan a leader in the Web3 world by 2025 through the legislature and changes in the government.

MonaCoin, also known as MONA, is a decentralized digital currency that was launched in Japan in 2013, and It is considered one of the most popular cryptocurrencies in the Japanese online community, with its focus on anime and manga content. The platform also supports atomic swaps, which allow for the exchange of cryptocurrencies without the need for intermediaries. Despite its niche market, MonaCoin has gained a loyal following predominantly in Japan. This makes us think that the Japanese crypto community is going to be infatuated with Signuptoken.com as they have proven their love for new projects such as these two.

Bitcoin is the worlds oldest digital currency and the first now to gain widespread popularity in the mainstream. It paved the way for the rise of DeFi and DeFi-related projects like Ethereum, Solana, and now Signuptoken.com. Launched 14 years ago in 2009 by a yet unknown person using the pseudonym Satoshi Nakamoto, it has climbed its way onto widespread adoption. It is not clear if Nakamoto is actually Japanese as the name implies, but if he or they are not, it only goes to show Japans passion for DeFi and FinTech.

As Japans interest in crypto continues to grow, its adoption of new projects will continue. DAO Tokyo has demonstrated the growing worldwide popularity of DeFi projects like Signuptoken.com with its unique crypto referral system and emphasis on Web3 values. Join Signuptoken.com today to ensure your headstart when the time comes for buying the coin, and refer your friends and family to receive lucrative rewards.

Interested in being one of the million millionaires?

Website: https://www.signuptoken.com/

Telegram: https://t.me/SignUpToken

Twitter: https://twitter.com/_SignUpToken_

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