The interplay of opportunities and threats presented by blockchain technology applications in varied measures across various industries inform the need for stakeholders to work together towards maximizing the opportunities while mitigating the threats.
This is where the idea of an intercommunity working group for Nigeria’s emerging blockchain industry comes in. The idea was initiated on 13 January 2021 after a stakeholder engagement on the need to check the proliferation of crypto scams in the space. The idea eventually became the Blockchain Industry Coordinating Committee of Nigeria (BICCoN) on 28 January 2021, reflecting the status and broader scope of the intercommunity working group.
BICCoN is constituted by the three major blockchain bodies/communities in Nigeria, namely:
- Blockchain Nigeria User Group (BNUG);
- Cryptography Development Initiative of Nigeria (CDIN);
- Stakeholders in Blockchain Technology Association of Nigeria (SiBAN); and
- Independent stakeholders who may not yet be affiliated with any of the three bodies/communities above.