A great history was made for Nigeria last week as Stakeholders in Blockchain Technology Association of Nigeria (SIBAN) became a founding member of the Blockchain Association Forum (BAF), described as the ” United Nations of Blockchain”.
SIBAN joins 55 other Blockchain Associations across the globe to found and inaugurate the most influential Distributed Ledger Technology (DLT) advisory group globally – The Blockchain Association Forum (BAF).
At the inauguration which was hosted by British Blockchain Association (BBA), each founding founding association was represented by their leaders and senior executives. Dr Naseem Naqvi, the founding chair of BBA and the founding Editor-in-Chief of the Journal of British Blockchain Association (JBBA) was made the chair of BAF.
With the founding of BAF, it is expected that leading representative bodies would globally harmonise and collaborate to influence national guidelines based on Blockchain Technology. Also, it is expected that the representative bodies would set sector development benchmarks based on best practice and globally agreed framework.
After the inauguration, SIBAN president, Senator Iyere Ihenyen said that
“Particularly at a time when the vital issue of policy in Nigeria’s emerging blockchain has become the frontburner, we are happy to take a front seat in helping to contribute and shape the critical advisory work that BAF would be doing in this regard”.
Also, the SIBAN Vice president, Policy and Regulations, John Arinze adds that ” We at SIBAN and the entire Nigeria blockchain space have been looking forward to such engagements as this. We believe that this global collaboration will help usher in a new dimension of building synergies, and also afford us the opportunity to contribute to policy formulations and framework that could help us achieve some strategic mileages in terms of blockchain advocacy, adoption, research and development in order to make our world a better place for all”.
As a phase in progress, SIBAN is also thrilled as it becomes a member of the Centre for Evidence Based Blockchain (CEBB), a neutral, decentralized and globalized body of leading blockchain enterprises and research institutions. According to SIBAN, through CEBB, its looks forward to improving its contributions to policy and regulations by setting benchmarks and frameworks to support government, businesses, and policy makers in making evidence-based .