Obinna Iwuno (President of the Stakeholders in Blockchain Technology Association of Nigeria – SiBAN), recently paid a courtesy visit to the Managing Director of NIGCOMSAT Limited, Jane Egerton-Idehen.
The strategic meeting underscores the collaborative efforts to enhance blockchain technology’s integration within Nigeria’s satellite communication sector. Together, they discussed innovative pathways to leverage blockchain for improved security, transparency and efficiency in satellite communications.
One of the more immediate use cases for blockchain technology in the context of satellite communication involves the untethering of information from terrestrial influence. Conducting transactions on Earth’s orbit is a security feature in itself as it reduces human influence even further. When combined with the immutable nature of blockchain technology and the self-executing properties of smart contracts, the world is entering an era of highly secure transactions that are sovereignty agnostic. One of the key features that contribute to this sense of security involves blockchain technology creating a chain of data custody that broadcasts to all interested parties the current state of any piece of information and its history.
RESOURCE: How digital assets and blockchain are empowering small businesses [Coinbase]