Connect with us

GRBusiness

ICTEL EXPO: Vodacom links Nigeria’s economic sustainability to digitization

Published

on

Nigeria is one of the fastest developing countries in the world and the most populous nation in the Sub-Sahara Africa continent. With an estimated 198 million people – according to the National Population Commission (NPC) – dependence on existing infrastructure is mounting.

Matching population growth with infrastructural development has become an issue of great concern across the country.

Finding solutions to this growing concern, was the focus of the discourse at the recently concluded Information Communications Technology and Telecommunications (ICTEL) Expo, 2018 organised by the Lagos Chamber of Commerce and Industry.

The event which recently took place at the Eko Hotel and Suites in Victoria Island brought together various stakeholders within the Information Communications Technology (ICT) industry to deliberate on ways to increase efficiency in the country through digitization.

Speaking on behalf of Vodacom Business Nigeria, Executive Head of Operations (Ag), Olumide Idowu said: “Leaders around the world are committed to smart city building as they attempt to chart the course towards the development of their cities in order to meet social, economic, and environmental challenges.”

Idowu noted that Nigeria is at a pivotal moment in its technological revolution and the current lack of infrastructure provides a ready springboard for the utilization of Internet of Things (IoT) technologies to create a smarter and a more efficient nation. By using IoT technology, which is commercially available today, a host of intelligently connected services such as efficient healthcare in rural communities become possible a reality.”

In the last year, Vodacom Business Nigeria, in collaboration with some State Governments, made significant strides in the development of smart solutions for problems facing rural communities within the State. In the area of healthcare, a solution was deployed to help increase the availability of essential medication by monitoring drug stock levels, improving the delivery of healthcare for citizens who access public health services. In education, Vodacom has also launched a mobile school management solution which provides real-time visibility of all management activities at schools.

The solution has been deployed to over 4000 public schools in Nigeria. While, in the area of agriculture, our connected farmer solution provides a platform for connecting various stakeholders within the agricultural ecosystem to create better accountability and efficiency within the industry.

“Other solutions such as payment solutions, backup solutions, energy, utility and security solutions are just a few examples of smart solutions available within the Nigerian context. Idowu stated: “The significance of digitization cannot be overstated in creating a smarter, more efficient and more sustainable economic environment in Nigeria.

“The sooner the shift to a digitalized system happens, the faster the nation can build a competitive advantage on the global stage and she can begin to reap the social, economic and environmental benefits that are sure to follow,” he added.

GrassRoots.ng is on a critical mission; to objectively and honestly represent the voice of ‘grassrooters’ in International, Federal, State and Local Government fora; heralding the achievements of political and other leaders and investors alike, without discrimination. This daily, digital news publication platform serves as the leading source of up-to-date information on how people and events reflect on the global community. The pragmatic articles reflect on the life of the community people, covering news/current affairs, business, technology, culture and fashion, entertainment, sports, State, National and International issues that directly impact the locals.

Finance

Blockchain Technology Will Redefine Company of the Future, Says CTO of Digital Encode

Dr. Akindeinde also received “AfriTECH Blockchain Technology Mastery Personality Award 2022”.

Published

on

Akindeinde at AfriTECH 2

Dr. Oluseyi Akindehinde, the Co-founder and Chief Technical Officer (CTO) of Digital Encode Limited, has identified blockchain technology and the mobile phone as going to be fundamental to the company of the future.

Making a presentation at the just concluded Africa Tech Alliance Forum, otherwise known as AfriTECH 2.0, held in Lagos, recently, Akindehinde said that with the coming of the 5G technology, it is expected that the company of the future has to provide services along those lines.

The cybersecurity expert however, argued that it is doubtful that humans will completely live their lives using such tools as the mobile phone and the internet without any other thing explaining why he titled the presentation “Web 3.0, Blockchain and a decentralized digital identity.”

Akindeinde at AfriTECH 2
Dr. Oluseyi Akindeinde, Co-Founder/CTO, Digital Encode Limited, speaking at AfriTECH 2.0

According to Akindehinde, “Blockchain is actually three things. Blockchain is a protocol, like when you have an email, for instance. Email has an organized protocol; it is called SMTP. Blockchain is also a protocol.

“Number two, why do you have a protocol? It presupposes that there is a network; there are servers that host the email. The last thing about blockchain is that it is software. That means you have the SMTP, the servers, and the software.

“When we talk about blockchain in this part of the world, it is usually an anonymous cryptocurrency. Cryptocurrency is just the work of four quadrants which are fungible, non-fungible, transferable, and non-transferable.

“Cryptocurrency is fungible and transferable. When we talk about it being fungible, if I bring out a thousand naira note for instance, you can bring yours, and we exchange it; it doesn’t matter. The problem with a physical asset like that is that we can only make that transaction when we are in the same space,” he further disclosed.

While explaining the difference between electronic transaction and digital transaction, Akindehinde stated that what people often do online is electronic because there is somebody in the middle granting access.

“When you log onto your bank mobile app and you make a transaction from bank A to bank B, what you are doing is transferring messages; it’s like email. When you take your ATM card to an ATM, what you are doing is that you are delegating control of that transfer to that man in the middle which is your bank.

“This brings out two things: The concept of ownership and the concept of control. So, when you are doing that electronic transaction, you do not own that transaction, you are only in control of it. If the network goes down, you can no longer do that transaction.

“Your university degree for instance, is an asset to you, it’s unique to you; it’s non-transferrable. Unlike money you can exchange with another person, you cannot exchange your certificate with another person.

“Why can’t we, therefore, have a digital driver’s license or a digital passport, or a digital identity management system? Why are we still carrying plastics? That is why there is the need to power a digital economy through decentralized identities.

“We all have BVNs and NINs, why can’t I be authenticated with my NIN for instance, and I sign in and go? When you are online and you go and authenticate to your bank, by putting your username and password, your bank is not authenticating to you,” he said.

Akindeinde at AfriTECH 2
L-r: Olabanji Soledayo, Marketing and Retail Sales Manager, ESET West Africa; Seun Dania, Founder and Chief Executive Officer of Tradefada; Jude Ozinegbe, Founder and Convener and Dr. Oluseyi Akindeinde, Co-Founder/CTO, Digital Encode Limited, during a panel session Blockchain | Cryptocurrency | Cybersecurity and the Future of Money, at AfriTECH 2.0

On the difference between Web 2 and Web 3, the Digital Encode CTO said that “Web 2 simply means that something is entirely online. I can’t use what is online in the physical world. For instance, if you have Gmail, Google Authentication or Microsoft, you can only use it on Google. The authentication resides on the server of the bank. That is the entire concept of Web 2.

“Web 3.0 on the other hand simply means that instead of having all the things stored on a centralized internet, you now have the data in your control; you are the owner, and you are in control of it. And that is why we have what is called a self-solving identity system.”

Dr. Akindeinde also received “AfriTECH Blockchain Technology Mastery Personality Award 2022”.

Continue Reading

Finance

The newly unveiled Naira Notes have been met with so much disappointment & dissatisfaction from Citizens

Published

on

Just like the Central Bank of Nigeria disclosed the remaking of the naira notes some months back, Citizens have been anxiously waiting to see the new designs that will surface.

The Central Bank of Nigeria stated that one of the reasons they were taking that step, Was to catch citizens who were hoarding stash of cash illegally. So bank deposits were monitored during the process as the new redesigned currencies were to be in circulation from January 2023.

However, though their plans were working quite well and the new naira notes has just been Unveiled by President Mohammadu Buhari, The new currencies which comprised of 200, 500 and 1000 naira notes was short of expectation as a lot of citizens were not happy about what they saw.

The new naira notes

Instead of new designs, The currencies were just given new colours which looked immature based on many citizen’s judgement.

The Unveiling of the new naira notes
The unveiling of the new naira notes

Still faced with the disappointment, A Citizen took it upon himself to Challenge the Central Bank of Nigeria on what a redesigned currency should look like. He made a design of 500 naira note using Photoshop, People couldn’t help but gush over his beautiful design.

Design of 500 naira note made by a citizen

Many Citizens say they still prefer the Old currencies to the new.

Comparison between the old and the new currencies

READ ALSO: No Administration Has Done What I’ve Done For Nigerian Businesses – Buhari

Continue Reading

Energy

AVEVA Showcases Role of Digital Technologies in Achieving Zero-Carbon Economy at COP27

Industrial software leader returns to annual UN Climate Change Conference to show how digital technologies are driving responsible use of global resources to build net-zero economies

Published

on

AVEVA
L-r: Lisa Wee, Global Head of Sustainability, Nayef Bou Chaaya, Vice-President – Middle East, Africa & Turkey and Amish Sabharwal, Executive Vice-President – Engineering and Simulation.

AVEVA, a global leader in industrial software, driving digital transformation and sustainability, will highlight how digital technologies can support public-private partnerships and unlock innovation to close the implementation gap on climate change at COP27.

The United Nations Climate Change Conference 2022 is being held on November 6-18 in Sharm El Sheikh, Egypt. A sponsor of the parallel Climate Action Innovation Zone, AVEVA believes trusted data-led technologies are essential to decarbonization, driving responsible use of the world’s resources and delivering innovative, climate-forward products in the net-zero economy. AVEVA is one of the first 50 companies in the world1 to have its net-zero commitments validated by the Science Based Targets initiative (SBTi).

AVEVA’s presence at COP27 will be led by some of its most prominent climate advocates: Amish Sabharwal, Executive Vice-President – Engineering and Simulation and member of AVEVA’s Executive Leadership Team; Lisa Wee, Global Head of Sustainability; and Nayef Bou Chaaya, Vice-President – Middle East, Africa & Turkey.

During a number of thought-provoking sessions at the Sustainable Innovation Forum 2022, being held alongside COP27, the AVEVA executives will use real-life examples to showcase how digital technologies are unlocking opportunities in the net-zero economy.

Global opportunities in climate change mitigation

Sabharwal will join a plenary panel on November 10. Alongside UN executives, he will seek to explain why climate change mitigation represents our biggest opportunity yet.

Amish Sabharwal-AVEVA
Amish Sabharwal, Executive Vice-President – Engineering and Simulation and member of AVEVA’s Executive Leadership Team

“UN data shows that immediate action can halve greenhouse gas emissions (GHG emissions) by 2030 and put us on track to achieving our goal of keeping global temperature increases to 1.5°C above pre-industrial levels. At the same time, we are facing our biggest opportunity yet. Climate change is accelerating the fourth industrial revolution and nowhere is that more obvious than in the communities and industries here in Africa.,” Sabharwal said. “The decisions we take at COP27 and beyond will put the global economy on track to building resilient net-zero economies that drive the adaptation and mitigation agenda. Digital technologies are integral to building the new industries and supply chains that will deliver sustainable growth and create new jobs.”

Sabharwal added: “Closing the implementation gap on the world’s ambitious decarbonization commitments presents a major source of economic opportunity for businesses and communities.”

Move towards sustainability handprint thinking

On November 9, broadcaster Nik Gowing will interview Wee in the context of her role as a climate leader. 

Lisa Wee, Vice-President of Sustainability, AVEVA
Lisa Wee, Vice-President of Sustainability, AVEVA

She will share insights from the frontline of climate change mitigation and offer real-life examples of how AVEVA and its partners are paying it forward by co-innovating climate-responsive technological solutions to help usher in a zero-carbon economy.

“At AVEVA we recognize that we can drive exponential impact through the products we bring to market while supporting our customers on their decarbonization journey,” Wee said. “Now, our thinking has moved beyond measuring and managing our carbon footprint to considering our sustainability handprint. This positive contribution to sustainability through business activities and partnerships is a way of paying it forward to secure a better future for humanity and our planet.”

Role of partnerships in decarbonization

Also on November 9, Bou Chaaya will amplify the discussion around innovation in the face of climate change in a high-level spotlight session, with case studies of how global organizations are responding to – and taking advantage of – the opportunities arising from the focus on net-zero targets.

Nayef Bou Chaaya Vice President Middle East and Africa AVEVA
Nayef Bou Chaaya Vice President Middle East and Africa AVEVA

“Public-private partnerships can speed up delivery of the next-generation of low-carbon technologies by 2030 and break down silos in the development of new low-emission products to meet the world’s net-zero goals,” Bou Chaaya said. “AVEVA’s expertise has already demonstrated the role of digital technology in developing and scaling green grids and accelerating sustainable development through smart cities and smart water applications. We are convinced of the importance of driving private-sector collaboration on scope 3 upstream and downstream mitigation activities. We believe an open and connected industrial economy based on free-flowing data networks will be essential to hasten and scale up those sectors that are hardest to decarbonize.”

Continue Reading

Trending