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Blockchain could "accelerate the economy", says the Nigerian presidential candidate

The presidential candidate of the main Nigerian opposition party has promised to support blockchain and cryptocurrency, an article published by the DailyPost on November 24th.

The Nigerian newspaper reported analyzing the "Get Nigeria Working Again" policy of the People's Democratic People's Democrat (PDP) Atiku Abubakar which he promised to implement if he was elected president on February 16, 2019.

DailyPost reports that in the document, the politician stated that "it aims to positively accelerate the economy through blockchain and cryptocurrency".

According to DailyPost, Abubaka said that to unblock "the potential of the new economy" the PDP "will promote the production of a global policy on blockchain technology and cryptocurrencies".

DailyPost also cited the Abubakar platform stating that "regulation will provide clarity" in this "sector that includes 1,800 currency types". The terms of the mandate are also promised to be "managed in such a way as to provide employment and income opportunities for the government and people of Nigeria."

As Cointelegraph reported in mid-October, the Nigerian government has started a collaboration with local start-ups to develop blockchain in the country. In March, the Nigerian regulator Nigeria Deposit Insurance Corporation (NDIC) warned against the use of cryptocurrencies because the transactions are not insured.

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