The Nigerian Institute for Social and Economic Research (NISER) partnered with Soramitsu, a Japanese technology company, to enhance NISER research faculty’s knowledge of blockchain technology. Soramitsu will focus on specific areas such as 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 for Social and Economic Research (NISER) has partnered with Japanese technology company Soramitsu to enhance its research faculty’s expertise in blockchain technology. As part of the partnership agreement, Soramitsu will “specifically focus 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 development 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 development goals,” the statement said.
The collaboration between the Nigerian Institute for Social and Economic Research (NISER) and Soramitsu comes as Nigerian authorities embrace blockchain technology. For example, in early July, Bitcoin.com News reported that a Nigerian information technology agency is 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 advanced technologies. The government wants to position the West African nation as a leader in Africa’s digital transformation.
By working with Soramitsu, a company with experience in providing 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 blockchain policies.