According to reports, the federal government of Nigeria has partnered with Binance exchange to launch a block chain advancement center in the country. As revealed, Nigerian government believes that the project identified as “Digital City” will allow entrepreneurs to benefit from the power of blockchain technology.
The Nigeria Export Processing Zones Authority confirmed the development in a statement on Monday. According to the statement, the partnership aims to develop a digital hub “similar to the Dubai virtual free zone”.
Furthermore, Bloomberg report reveals the federal government considers digital technology as a means to diversify the country’s economy away from crude oil. In addition, the government wants to take advantage of an increasingly connected and youthful population.