Blockchain Technologies for Financial Inclusion in Nigeria

Abstract

Financial inclusion is the ability of individuals or companies to gain access to financial services at affordable and sustainable costs. It ensures that the financial products and services such as credit, insurance, payments, transactions and savings meets the needs of both businesses and individuals. The situation of the over two billion unbanked individuals in developing countries is one that calls for urgent and immediate sustainable solution. In Nigeria, according to the Lagos Business School LBS (2018) report, 136 out of the total 198 million Nigerians are financially excluded, that is about 68.7% of Nigerians. Blockchain technologies, through the utilization of an immutable ledger has the promise of being able to provide a trustworthy and more efficient system. The talk discussed the pertinent roles and applications of blockchain technologies for financial inclusion in Nigeria.

Faithful Chiagoziem OWNUEGBUCHE

PhD Candidate in Machine Learning and Blockchain Technology

My research focuses on the intersection of machine learning and blockchain technology, particularly their applications in the fields of cybersecurity and finance.