Benefits of Blockchain technology to my country Nigeria (februaryinleo)

Blockchain technology is a very vital tool for the growth of any country or society, it enhanced transactions and can store vital documents or information safely, it is made up of web3 and it is Decentralized, and this simply means that no one can control it's operation or have authority over it. Blockchain has a ledger and it is where everything takes place, like it's transactions and other important tasks, and transaction done on Blockchain are transparent and can be easily accessed anytime and anywhere. Blockchain technology has the ability to help grow any country or society, and it will help solve the challenges that may have been affecting a country, and the fact that transaction done on Blockchain cannot be tamper with or deleted (immutable) this makes it a very vital technology.
Another vital thing that Blockchain makes use of is cryptographic algorithm and it helps in securing data and making it impossible for anyone invading to manover data.

When it comes to technology, Blockchain technology is highly advanced and preferable for running transaction, it has the ability to function in a way that will benefit any society or country, and many transaction can be run at once with the help of Blockchain. Blockchain are mainly used in crypto currency but apart from that it can also be used in different aspects of life, Blockchain is Decentralized and can operate on its own.

I am from Nigeria and there are many ways Blockchain technology can assist my country to help in it's development and growth.

• WAYS BLOCKCHAIN CAN HELP NIGERIA

Nigeria my country is not making fully use of Blockchain technology, I hope the will come across this post to see the importance of Blockchain technology and why the should start making use of it, Blockchain has many advantages, but many fall to recognize it's importance of Blockchain including the importance of crypto currency, for example my country is not in support of crypto currency and any transactions done with transitional bank that has crypto in it's payment is always declined, the do not support payment in crypto and it's reduces there growth and development, but if they starts making use of crypto it will help assist them in ways, like;

BLOCKCHAIN IN FINANCIAL:

Blockchain technology if included in our banking system will help solve many problems, and provide a more secured and reliable transactions, Blockchain is secured and it makes use of ledger and this will help store all transactions so that it can't be deleted or tamper with. Another thing is that Blockchain is Decentralized so making use of it in our financial system will help reduce the rate of government invading in the financial system. Most times people complain of scam and lost of data, but it is not the same case with Blockchain, Blockchain reduces scams and most times prevent it and transaction done on Blockchain can be easily assessed no matter how long the transaction is being done. Most banks in Nigeria often face difficulties in securing customers funds but Blockchain can make it more easier, and most banks often charge much for transactions and maintenance, and other things but when Blockchain is being used it will prevent all this charges that most banks cause. This will help grow the country and improve transaction, remember that Blockchain can support transaction across borders and this means that anyone can easily run transaction to any country with the help of Blockchain and there will be no intermediaries to prevent the follow of transactions.

BLOCKCHAIN CAN IMPROVE ELECTION IN NIGERIA;

Many people complain about the outcome of the last election in Nigeria, it was very poor and was not transparent, we all were not happy about the outcome and we were all disappointed, but if Blockchain is being used in conducting election, election will be free and fair and more. Apart from my country I think that other countries may also be experiencing bad election, and election is not free and fair and there's always bribery. Blockchain can help we all have a stable election and improve our election system, it will help run a free and fair election and a transparent one.

IMPROVING WORK FORCE; I have being making use of Blockchain technology for years now and it has been a great help to us all, I have benefited deeply from Blockchain, not only does it help me have a secured transaction but it gives me profits and I can run transaction easier and in a more convenient way.

Conclusion; Blockchain is very important and has improved lives and it has also helped in the growth and development of countries who make use of it, my country Nigeria making use of Blockchain will help us run a free and fair election and a fast and reliable transactions, I hope the start making use of this Blockchain because personally it has improved my lives and I know it will improve my country Nigeria.

This is my twelfth entry for the February initiative, announced by @leo.tasks you are free and can join this initiative and make can post based on the topics in the February initiative, this simply means you no longer have to look for what to write, because there are many topics for you to engage in, note that the initiative is almost over so join now, Here is the link to the February initiative

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Posted Using InLeo Alpha

Posted Using InLeo Alpha