Blockchain Could ‘Speed up the Economy,’ Says Nigerian Presidential Candidate

The presidential candidate of Nigeria’s leading opposition party has promised to support blockchain and cryptocurrency, local news outlet the DailyPost article reported Nov. 24.

The Nigerian news outlet reportedly analyzed the Peoples Democratic Party (PDP) candidate Atiku Abubakar’s “Get Nigeria Working Again” policy that he reportedly promised to enact if he is elected president February 16, 2019.

DailyPost reports that in the document, the politician declared that “he aims to speed up the economy positively through blockchain and cryptocurrency.”

According to DailyPost, Abubakar stated that to unlock “the potentials of the new economy” PDP “shall promote the production of a comprehensive policy on blockchain technology and cryptocurrencies.”

DailyPost also quoted Abubakar platform as stating “regulation will provide clarity” in this “industry that consists of 1,800 currency types.” The terms of the mandate are also promised to be “managed in a way that provides job opportunities as well as income for the government and people of Nigeria.”

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

Ex-Fidelity Exec Joins Blockchain Company Bloq as Chief Operating Officer

A former executive at financial services giant Fidelity Investments has been appointed Chief Operating Officer (COO) at blockchain infrastructure firm Bloq, according to a press release Oct. 23.

Bloq’s new COO, Hadley Stern, spent seventeen years at Fidelity, which administers over $7.2 trillionin client assets. His most recent role was at the helm of the crypto and blockchain incubator within the company’s innovation lab, Fidelity Labs – overseeing the launch last week of its new crypto-business, Fidelity Digital Assets.

Bloq’s co-founder and chairman Matthew Roszak characterized the new appointment as emblematic of the increasing entwinement of the world of “conventional” enterprises and the emerging cryptocurrency sector.

In a Medium post published today, entitled “The Tokenization of Things and Building the Unimaginable,” Stern gave his perspective on the history of the new technologies driving an “efficient, frictionless” economy:

“Without coming off as doctrinaire or fundamentalist, it’s fair to say that Satoshi Nakamoto delivered a true gift in the Bitcoin whitepaper, that is, a way to produce and account for a provably scarce, wholly digital asset. Satoshi was not-so-subtly concerned about vulnerabilities in the financial system […] Nearly a decade later, the Bitcoin project has proven stunningly resilient.”

Stern’s blog post further outlined three fundamental market areas to be undertaken at Bloq as part of the company’s aim to further the management and integration of digital assets.

As reported early last week, Fidelity this month officially unveiled its new company, Fidelity Digital Asset Services, which will offer custody and trade execution services for digital assets, targeting institutional investors.