Companies need to adopt blockchain technology into their operations – Jelurida Africa DLT

Bukola Olanrewaju September 30, 2019 TECHNOLOGY Leave a comment

The blockchain gaint, Jelurida Africa DLT has noted that the advent of digital revolution has made it more imperative for companies in Nigeria to adopt blockchain technology into their daily operations.

The company reiterated that lots of organisations are beginning to see and exploit the opportunities embedded in blockchain, thereby posing a threat to others yet to understand and adopt the technology in their businesses.

According to the Managing Director, Jelurida Africa DLT, Mr Adebajo Adedayo while speaking with Business Remarks noted that blockchain technology is an advanced technology that offers companies diverse opportunities to expand and operate seamlessly.

“Blockchain is a breakthrough technology that is sparking innovations in virtually all sector of the economy.

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Speaking on the advantages the technology provides, Adedayo highlighted that blockchain could help them reduce costs and improve certain processes, advance product and customer data tracking and security, increase product safety, and reduce fraud and counterfeiting.

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“Blockchain is applicable not just to the private sector but also to the public sector.

“Most especially the private sector; if they fail to adopt the technology they will be in a serious competition with a better version of themselves that has adopted the technology already.

“In order to stay ahead or be at the same level with your competitor in this industry, there is need to adopt the ruling technology.

“As a result, it is not a secret that companies have been signaling interest in blockchain technology through strategic investments and acquisitions”, he explained.

Adedayo also stated that blockchain technology deals with data in a transparent manner which is one of those things lacking today.

“Blockchain is here to solve transparency on a different level”.

However, he pointed out that one of the limiting factors to the broad adoption of the technology ever since its introduction to Nigeria is education.

“Awareness and Education are very important. It’s only when these two things are in place we can then say we have broad adoption. It is normal to be afraid what one don’t understands. When the understanding comes, then opportunities available will be seen and exploited”, he said to Business Remarks.

To address this issue, Adedayo posited that several programs going on in this direction, the HackActhon, Blockchain initiatives, events and others.

“These are ways we have been catering for these deficiencies to make sure educated people are also educated on blockchain usage and advantages.

Just like every prevalent technology, there are always times for challenges and problems to be mitigated. Once we phase out most of the obstacles, the opportunities and growth are limitless”, Adedayo addressed.