Nigerian think tank teams with Japanese firm for blockchain research

The Nigerian Institute of Social and Economic Research (NISER) has teamed up with Japanese technology firm Soramitsu to advance its understanding of blockchain technology. 

This collaboration will focus on key areas, including SORA, central bank digital currencies (CBDCs), and Hyperledger Iroha, providing NISER with the tools and knowledge to integrate blockchain into its research and policy development. 

The partnership aims to create a comprehensive blockchain knowledge base that will support Nigeria’s broader developmental goals. 

According to a joint statement from NISER and Soramitsu, the initiative will promote financial inclusion and reduce inefficiencies in Nigeria’s economy by exploring innovative blockchain solutions. 

“The partnership will explore and implement innovative projects using blockchain technology to promote financial inclusion, reduce economic inefficiencies, and contribute to Nigeria’s developmental goals,” the statement explained. 

This move aligns with Nigeria’s growing interest in emerging technologies. 

Recently, Nigerian authorities have taken several steps to embrace blockchain and other digital innovations. 

In early July, a Nigerian government agency proposed developing a domestic blockchain to improve control over residents' data. 

Following that, the government announced plans to train 1,000 citizens in blockchain, artificial intelligence (AI), and other cutting-edge technologies, signaling a significant push toward digital transformation in the country. 

By partnering with Soramitsu, a Japanese firm known for its blockchain solutions across industries, NISER aims to enhance its research capabilities and develop practical applications of blockchain for Nigeria’s economy. 

Soramitsu has a track record of delivering blockchain solutions for enterprises, governments, and universities, making it a valuable partner for NISER. 

The collaboration is expected to help Nigeria formulate better policies related to blockchain, fostering economic growth and positioning the country as a leader in Africa’s digital transformation.