NCC holds conference on distributed ledger technologies ecosystem

The Nigerian Communications Commission (NCC) is set to hold a Conference on distributed ledger technologies (Blockchain) Ecosystem today Wednesday, April 20, 2022 and Thursday, April 21.

According to a statement on the website of the Commission, the conference on Wednesday will start by 10.00am through to Thursday at 17:00pm respectively.

The NCC noted that the New Media and Information Security (NMIS) Department of the Commission is organising the workshop and conference on Distributed Ledger Technology (Blockchain) Ecosystem, Decentralization, and Adoption Methods as Growth Plan for the Telecoms Sector Development of Bold Blockchain Strategy for Nigeria.

Further details of the event disclosed that the venue is at Communications and Digital Economy Complex, Mbora, Abuja.

Blockchain & Distributed Ledger Technology (DLT) is a form of distributed ledger technology.

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A blockchain is a distributed and immutable ledger to transfer ownership, record transactions, track assets, and ensure transparency, security, trust and value exchanges in various types of transactions with digital assets.

Furthermore distributed ledgers use independent computers (referred to as nodes) to record, share and synchronize transactions in their respective electronic ledgers (instead of keeping data centralized as in a traditional ledger).

Blockchain organizes data into blocks, which are chained together in an append only mode.