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The Nigerian Institute of Social and Economic Research (NISER) partnered with Soramitsu, a Japanese tech firm, to improve NISER’s research faculty’s knowledge of blockchain technology. Soramitsu will focus on specific areas like SORA, central bank digital currencies (CBDCs), and Hyperledger Iroha. This partnership aims to create a knowledge base and support Nigeria’s development through research and innovative blockchain projects.
Developing a Blockchain Knowledge Base
The Nigerian Institute of Social and Economic Research (NISER) has partnered with the Japanese technology firm Soramitsu to enhance the research faculty’s blockchain technology expertise. As part of the partnership arrangement, Soramitsu will “focus specifically on SORA, CBDCs [central bank digital currencies] and Hyperledger Iroha.”
According to a statement, this collaboration aims to build a knowledge-industry partnership, with NISER providing local context and analysis through research. In addition to creating a knowledge base, NISER and Soramitsu will work together to support Nigeria’s developmental goals.
“Additionally, 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.
The collaboration between the Nigerian Institute of Social and Economic Research (NISER) and Soramitsu comes as Nigerian authorities are embracing blockchain technology. For instance, in early July, Bitcoin.com News reported that a Nigerian information technology agency was considering developing a domestic blockchain to give the government more control over residents’ data.
Later that month, news emerged of the Nigerian Federal government’s plans to train 1,000 citizens in artificial intelligence (AI), blockchain, and other cutting-edge technologies. The government aims to position the West African nation as a leader in Africa’s digital transformation.
By partnering with Soramitsu, a company with experience delivering blockchain solutions for enterprises, universities, and governments, NISER will gain valuable knowledge of the technology. According to the statement, this expertise can then be used to formulate better policies related to blockchain.