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Nigeria should adopt blockchain for payments – Digital Encode

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Nigeria should adopt blockchain for payments – Digital Encode

Ozioma Ubabukoh

Digital Encode, an information security management and compliance advisory company, has asked the Federal Government to approve the use of blockchain in the country, which enables peer-to-peer payments without an intermediary (either a bank or a clearinghouse).

The Chief Technical Officer, Digital Encode, Oluseyi Akindeinde, said, “The blockchain is indeed an innovation only comparable to the Internet itself and we launched Shift Blockchain to apply the technology in the area of financial services and payment systems.”

He also said, “It is truly innovative using a combination of decentralised and distributed network architecture to deliver world-class financial services and one that we hope will bring financial inclusion to the teeming populace and possibly replace transaction banking services in the long term. Think of Shift Blockchain as a purely digital bank.”

According to him, Digital Encode is driven by its service excellence, adding, “We know that the company of the future is one that can effectively use technology to save costs and solve problems of consumers.”

The company recently won three awards from two different groups at events meant to celebrate professionalism and innovation in information security.

It emerged as the ‘Best Information Security Management Consultancy in West Africa & Excellence Award for Security Assessments 2017’ from a United Kingdom group, Corporate Vision, during its 2017 Technology Innovator Awards.

Digital Encode also bagged the award of the ‘Cybersecurity Company of the Year’ and ‘Compliance Advisory Company of the Year’, at this year’s Beacon of ICT Awards organised by Nigeria CommunicationsWeek.

The two organisations said in their separate statements concerning the awards that Digital Encode won through a combination of votes gathered from its network of respected industry partners and its own rigorous in-house research, performed by a network of industry insiders and corporate specialists.

The Chief Operating Officer, Digital Encode, Wale Obadare, said that the company’s method was rooted in the concept that a company should run its Information Technology organisation as a business.

“Throughout the well-defined process, Digital Encode translates strategic business objectives into sound, achievable technology solutions. This approach ensures that the technology never obscures the business goals,” he said.

“At Digital Encode, technology serves two purposes: to save money and solve a problem. Digital Encode also provides advisory services toward improvements in Information Security Management, Network Security, Vulnerability Management, Penetration Testing, Computer Forensics, Risk Management and Business Continuity Management,” Obadare added.

               

Contact: [email protected]

 

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