E-Business
Digital Encode Founders @ BoICT 22 Lecture Explore Impact of Blockchain in Digitization
Dr. Oluseyi Akindeinde, chief technology officer and Dr. Adewale Obadare, chief visionary officer both founders of Digital encode, is a leading consulting and integration firm founded in 2003 that specializes in the design, management, and security of business-critical networks, telecommunications environments and other Information Technology (IT) infrastructures.
The dual was at this year’s Beacon of ICT lecture to offer insight on impact of Blockchain Technology in a Digitalized Nigeria.
Delivering the keynote speech, Dr. Oluseyi Akindeinde, reiterated the importance of technology in advancing human living conditions.
According to him, “ If we look at the advancement of digital technology from computer system. Blockchain is the third most important piece of technology that has been invented over time.
“The first being the personal computer, the second being the internet and the third blockchain technology. Before I say what blockchain is, I want to explain what blockchain is not.
“There is this misconception that every time you talk about blockchain the next thing people talk about is cryptocurrency. Before computer there was calculator. Is like when computer came we then started to look at computer as calculator. No. people saying that blockchain is cryptocurrency are misrepresenting it.
“It is same as thinking that the internet is about email only. Cryptocurrency is one bit of blockchain. When we say something is technology, there are three fundamental things that technology needs to fulfil. First, does it make you money – if there is a piece of technology people will want to see if it does affect their bottom line.
“Second; Is it system oriented – system in computer science means save yourself stress, time, Energy and money. If any technology does not save stress, time, energy and money such technology is useless. Third; does it solve a problem?
Akindeinde however, describe blockchain technology as is software. But different from the software we are used to because blockchain software is underpin by advanced cryptography and mathematics.
He further explained that blockchain came about because of fundamental problem with the internet.
“When you are on the internet it gives one the ability to move information from one place to the other. For instance, I can sit down in my house and send email. That email will get to where I am sending it to.
“As I send that email it is not valuable. There is no value to the email because I can send that particular email to multiple people. When you can send multiple emails from one source, inherently, there is no value. Anything that is of value has to be scarce.
“Around 2008, somebody sat down and asked, is there a way we can move value just as I am here now, my driver’s license is valuable to me. Money is valuable as well.
“How can I move value on the internet? The only way we can move value on the internet is to have a third party. If you have a third party in the middle of two people transacting you have counterpart risk. So, how do I take out that counterpart risk.
“How do I simulate what happens in the real world? In the real world, if I go to a store to buy something, I will pay the store keeper and collect the goods. That money I paid serves as a payment and settlement. I don’t need anybody to do clearing and settlement, that money assumes all that.
“The problem with that is if I am not in the same area or environment with the store keeper, there is no way I can move that money so I need someone who is going to sit in-between me and that person that will validate that I have that money. We are trying to solve the problem of double spending. We can represent this value digitally. How can I digitally represent value?
“Representing value digitally is not copy and paste. It is actually moving value, trying to eliminate counterpart risk by removing third party to get value.
“We have different authentication systems on the internet that operate in silos. Self- sovereign Identity is what is used in blockchain. Can’t we have authentication system that resides with the individuals rather than with a server at one location or the other,” he said.
Dr. Adewale Obadare, chief visionary officer, Digital Encode, responding to question onn why United States of America has not fully adopted Blockchain technology. Said that the problems we have in Africa is not the same as in United States.
He cited example of EMV technology in electronic card – chip & pin cards where US is still using Magnetic stripe, because they have compensation control such as social security number among others. If anyone steals money they will track the person down, we don’t have that here.
“The disconnect here is that USA has done their risk management, because of the number of ATMs and cards in circulation they decided to be doing it in phases.
“But, in Nigeria because we don’t have much ATMs and cards it was easier for central bank of Nigeria to implement migration to chi and pin. The same thing with the blockchain, we don’t have to suffer what the USA had suffered before we leapfrog,” he said.
Cyber security Efforts in Nigeria
Dr. Wale Obadare and Dr. Oluseyi Akindeinde, both founders of Digital encode have expressed worries over the implementation of none impactful cyber security solutions to organizations by vendors which has resulted in increased loss of money and data by organizations.
They cautioned organisations on over dependence on cyber security products for protection against cyber -attacks.
Obadare, further said that major challenge organizations face in the fight against cybercriminal and cyber warfare is lack of trained manpower.
“I have been in cyber security ecosystem for many years now and have identified lack of trained manpower in most organizations. Cyber security is not a certificate that speaks for you, but a continuous training to be ahead of the smart criminals, most organizations find it difficult to continually update their IT security staff to be able to face cyber threats,” he said.
Akindeinde, emphasized on the need for a national cyber security framework against industry specifics frameworks.
“There are a number of frameworks aimed at assisting most organizations in preventing cyber attacks. A prime example is the ISO 27001 ISMS. A more specific one for the financial / payments sector is the PCI DSS. This is a regulatory framework. I think it’s a case of the level of maturity of cybersecurity in the banking sector. Other sectors have not got to that advanced stage of maturity which is why the banks seem to be at the forefront of preventing and addressing issues related to Cybersecurity,” he said.
At Digital Encode, technology serves two purposes: to save money and solve a problem. Digital Encode also provides advisory services toward improvements in Information Security Management, Network Security, Vulnerability Management, Penetration Testing, Computer Forensics, Risk Management and Business Continuity Management.
Digital Encode’s unique methodology is rooted in the concept that a company should run its IT organization as a business. Throughout the well -defined process, Digital Encode translates strategic business objectives into sound, achievable technology solutions. This approach ensures that the technology never obscures the business goals.
Digital Encode has managed several projects for banks in the country among them included penetration testing and vulnerability assessments for PCIDSS certifications.
It has also assisted many organisations to deliver ISO 27001:13 certification which is a testament to their teamwork, focus, drive and will to succeed.
Recently, Digital Encode got licensed under the Data Protection Compliance Organisations (DPCO) by the National Information Technology Development Agency (NITDA).
With the development, Digital Encode is recognised by NITDA to provide training, auditing, and consulting services throughout the country in line with the Nigeria Data Protection Regulation (NDPR) principles.
Among the objectives behind the regulation were the protection of the privacy rights and freedoms of Nigerian citizens, on the one hand, and the promotion of local and foreign investments in the digital economy by safeguarding the information systems infrastructure against breaches and implementing internationally compatible rules.
Recognitions
Digital Encode and founders were conferred with several awards in recognition their efforts in pioneering effective cybersecurity strategy in Nigeria and Africa as well as its quality-driven operations and global best practice standards in Information Security Management and Compliance Advisory ecosystem among them included; the ‘Africa’s Most Innovative Quality Cyber-Security Consulting Company’ by African Quality Institute.
The company bagged Excellence Award in Compliancy Advisory Company and Cybersecurity Mastery Award at the prestigious Beacon of ICT Awards 2022 organised by Nigeria CommunicationsWeek .
Dr. Oluseyi Akindeinde, chief technology officer and Dr. Adewale Obadare, chief visionary officer both founders of Digital encode, emerged as Man of the Year and Cybersecurity Mastery Personalities of the Year.
Dr John Asein, director-general, Nigerian Copyright Commission (NCC), has said that the federal government is taking steps to finalise its National Intellectual Property (IP) Policy and Strategy for the country.
Asein disclosed this on Friday while commemorating the 2024 World Intellectual Property Day with the theme “IP and the SDGs: Building Our Common Future with Innovation and Creativity’’ in Abuja.
The that the Day is observed every April 26 to celebrate the importance of intellectual property (IP) rights to encourage innovation and creativity.
The director-general was represented by Mr Emeka Ogbonna, director of Legal.
NCC boss said the policy would serve as a blueprint for a more efficient modern and responsive legal and administrative framework for the country to leverage on its creative and innovative potential.
He said that the day underscored the power of innovation and creativity in achieving the Sustainable Development Goals (SDGs) and shaping a sustainable and inclusive future for humanity.
According to him, the SDGs represent a universal call to action to end poverty, protect the planet, and ensure prosperity for all by the year 2030.
“IP rights play a pivotal role in fostering innovation, creativity, and technological advancements. They provide the framework that encourages men and women to develop new solutions that address global challenges.
“It is the lynchpin for incentivising the use of creative and innovative ideas to solve many of the challenges that confront humanity.
“This year’s World IP Day reminds us that intellectual property can be a powerful tool for social, economic, and environmental development.
“It encourages individuals, businesses, and governments to leverage IP rights to drive innovation, create jobs, and build resilient communities.
“By aligning our intellectual property policies and strategies with the objectives of the SDGs, we can accelerate their achievement,’’ NCC boss said.
He said in the spirit of the “Renewed Hope Agenda’’ of the present administration, government had also shown appreciable commitment to the creative industry as a major sector of the economy.
“As one of the agencies responsible for the wholesome development of the creative sector, the Nigerian Copyright Commission will continue to provide the needed institutional, legal and administrative support for the protection, promotion, regulation and enforcement of copyright.
“The commission will pay particular attention to using the copyright system to advance Goal 1 (No poverty); Goal 4 (Quality education); Goal 5 (Gender equality).
“And Goal 8 (Decent and economic growth); Goal 9 (Industry, innovation and infrastructure) and Goal 17 (Partnerships to achieve the goals).
“We are aware that the goals would have to be adapted to fit the peculiar needs of intellectual property which is an intangible asset.’ ’he added.
The director-general, who said that the commission focused on the 17 SDGs to address emerging challenges, called on authors, innovators, users, IP experts and other stakeholders to reflect on the vulnerability of the nation’s fragile knowledge and creative ecosystem.
The National Information Technology Development Agency (NITDA) and Illmi Children’s Fund (ICF) have trained 100 schoolgirls in digital and Information and Communication Technology skills training.
Mrs. Maryam Augie-Abdulmumin, ICF Executive Director, confirmed this in a statement on Thursday in Lagos.
The graduation followed the training of the schoolgirls in ICF and NITDA’s DIGITGALS 2.0 programme, a collaborative initiative aimed to equip adolescent girls in Abuja with critical digital and ICT skills.
Augie-Abdukmumin said the DIGITGALS 2.0 centred around essential digital literacy, programming fundamentals, digital marketing and communication skills, and cybersecurity awareness.
She added that the girls were equipped with the confidence to compete and excel in a globalised digital economy. The graduation was in commemoration of the 2024 International Girls in ICT Day celebration on April 25.
DIGITGALS 2.0 is in its second phase and empowered 100 senior secondary school girls selected from five government schools in the Federal Capital Territory.
The girls aged between 15 and 18 years were equipped with the knowledge and tools needed to thrive in the digital world and address the growing demand for ICT skills in the 21st century.
Augie-Abdulmumin reiterated the importance of bridging the digital gap in the country starting with the girl-child.
“This graduation ceremony on International Day of Girls in ICT is a powerful symbol of our commitment to closing the digital gender gap.
This programme made possible through our partnership with NITDA, and signifies a crucial step towards bridging the digital gender gap.
It also fostering a future where women are active leaders in the tech industry. This is also an opportunity for these girls to take charge of their own future,”.
Mr Kashifu Abdullahi, the Director-General of NITDA, commended the collaborative efforts of ICF in making the DIGITGALS 2.0 a reality.
According to him, building a diverse and inclusive digital workforce is critical for Nigeria’s success.
“We are proud to collaborate with ICF on DIGITGALS 2.0 to empower these young women to become active participants in the tech industry. This programme showcases the importance of collaborative efforts in bridging the digital gender gap.
These girls have been equipped with essential digital skills, and ICF and NITDA are confident they will become active contributors to Nigeria’s thriving tech landscape,”.
ICF is a non-profit organisation dedicated to improving the lives of children, from underprivileged backgrounds, through education, healthcare, technology and entrepreneurship initiatives.
NITDA is a public service institution established in 2007. It functions as the ICT policy implementing arm of Nigeria’s Federal Ministry of Communication and Digital Economy.
By Reuben Kalu.
In the vast expanse of the digital realm, Google looms large, an omnipresent force shaping the way we navigate, search, and conduct business online.
From its humble beginnings as a search engine to its current status as a multifaceted tech behemoth, Google has entrenched itself deeply into the fabric of the internet.
Its influence is undeniable, its reach unparalleled, and its ubiquity seemingly inescapable. But can you truly run an online business without Google?
The answer, in today’s digital landscape, is a resounding no. You have no choice.
Google’s dominance extends across multiple facets of the online world, making it virtually impossible for businesses to thrive without engaging with its ecosystem.
From search engine optimization (SEO) to online advertising, email services to analytics, Google’s suite of products and services permeates every aspect of the online business landscape.
Attempting to operate without Google is akin to swimming against a relentless tide, fighting an uphill battle fraught with obstacles and limitations.
At the heart of Google’s influence lies its search engine, the gateway through which billions of internet users navigate the vast expanse of online content. .
Google’s search algorithms wield immense power, determining which websites rank prominently in search results and which languish in obscurity.
For businesses seeking to attract organic traffic and expand their online presence, optimizing for Google’s search algorithms is not merely advisable—it’s imperative.
But Google’s influence extends far beyond search. Consider Google Ads, the company’s advertising platform that enables businesses to reach targeted audiences through paid search, display, and video advertising.
With billions of searches conducted on Google each day, Google Ads provides unparalleled reach and visibility, allowing businesses to target potential customers with pinpoint accuracy.
Attempting to compete in the online advertising arena without leveraging Google Ads is akin to entering a battle unarmed—a futile endeavor destined for failure.
Moreover, Google’s suite of productivity tools, including Gmail, Google Drive, and Google Workspace, has become indispensable for businesses seeking to streamline their operations and enhance collaboration.
With seamless integration across devices and platforms, Google’s productivity tools offer unparalleled convenience and efficiency, empowering businesses to work smarter, not harder.
Attempting to eschew Google’s productivity suite in favor of alternative solutions is not only impractical but also unwise, depriving businesses of the tools they need to succeed in today’s fast-paced digital landscape.
Furthermore, Google Analytics stands as the gold standard for web analytics, providing businesses with invaluable insights into their online performance and audience behavior.
From tracking website traffic and user engagement to analyzing conversion metrics and customer demographics, Google Analytics offers a comprehensive toolkit for optimizing online marketing strategies and driving business growth.
Attempting to gauge online performance without leveraging Google Analytics is akin to flying blind, devoid of the critical data needed to make informed decisions and drive meaningful results.
But perhaps the most formidable aspect of Google’s influence lies in its role as a gatekeeper of information and access.
With billions of users relying on Google’s platforms and services each day, the company wields immense control over the flow of online traffic and the dissemination of information.
For businesses seeking to connect with customers and expand their reach, Google’s dominance presents both a tremendous opportunity and a formidable challenge.
Attempting to circumvent Google’s influence and establish an online presence independent of its ecosystem is a Herculean task, fraught with uncertainty and risk.
In essence, attempting to run an online business without engaging with Google is akin to swimming against a relentless tide, fighting an uphill battle fraught with obstacles and limitations.
While alternative platforms and solutions exist, none possess the ubiquity, reach, and influence of Google’s ecosystem.
To thrive in today’s digital landscape, businesses must embrace Google’s dominance and leverage its suite of products and services to their advantage. You have no choice.
In conclusion, Google’s pervasive influence permeates every aspect of the online business landscape, making it virtually impossible to escape its grasp.
From search engine optimization to online advertising, productivity tools to web analytics, Google’s ecosystem encompasses a vast array of products and services that have become indispensable for businesses seeking to succeed in the digital age.
While alternative solutions may exist, none possess the ubiquity, reach, and influence of Google’s ecosystem.
To thrive in today’s digital landscape, businesses must embrace Google’s dominance and leverage its suite of products and services to their advantage.
You have no choice.
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