Connect with us

E-Business

IDC Expects Blockchain Solutions Spending to Reach $2.7B by Year End

Published

on

Kindly share this post

Global spending on blockchain solutions is expected to reach $2.7 billion by year-end – an increase of 80% over 2018, according to global technology research and consulting firm International Data Corporation (IDC).

In its Worldwide Semi-annual Blockchain Spending Guide, IDC forecasts the figure will be close to $15.9 billion in 2023, driven by spending led by the banking industry, which will account for roughly 30% of the worldwide total.

Discrete manufacturing and process manufacturing will be the next largest industries, with a combined share of more than 20% of overall spending. Process manufacturing will also have the fastest spending growth of a 68.8% compound annual growth rate (CAGR), enabling it to become the second largest industry for blockchain spending by the end of the forecast period.

Four other industries (discrete manufacturing, professional services, retail and utilities) will grow faster than the overall market.

IDC says the banking industry will drive spending on two of the largest blockchain use cases – cross-border payments and settlements, and trade finance and post-trade/transaction settlements.

From a technology perspective, IT services and business services (combined) will account for nearly 70% of all blockchain spending in 2019, with IT services receiving slightly more investment over the forecast period.

Blockchain platform software will be the largest category of spending outside of the services segment and the second fastest growing technology category overall with a five-year CAGR of 65.2%, following IT services with a CAGR of 66%.

James Wester, research director at Worldwide Blockchain Strategies, says: “Behind the sometimes heated public discussions and debates over blockchain, enterprise adoption of the technology has quietly reached a tipping point across multiple use cases. Companies are recognising value from initial pilot programmes and moving those projects into production.

“As the data in the spending guide indicates, the growth and adoption of blockchain by enterprises is accelerating as the benefits of using blockchain to increase efficiency and improve processes are understood. There is still some uncertainty regarding the technology, specifically in the areas of governance and regulation, but adoption of blockchain for financial services, identity, trade and other markets is encouraging.”

The Worldwide Semi-annual Blockchain Spending Guide quantifies the emerging blockchain market by providing spending data for 10 technologies across 19 industries and 17 use cases in nine geographic regions. IDC defines blockchain as a digital, distributed ledger of transactions or records.

“While the debate continues as to whether crypto-currencies are a solution in search of a problem, many organisations and enterprises have realised blockchain solves many current and impending business problems. Many blockchain projects are gaining steam as players across the value chain realise the significant progress blockchain brings, launching much-needed transformation within and across industries and use cases,” says Stacey Soohoo, IDC research manager, customer insights and analysis.

“With enterprises moving past the proof-of-concept phase, it’s not a matter of whether blockchain is here to stay but rather the scope of blockchain’s adoption.

“Sharing data between institutions, simplifying outdated processes, and bringing transparency to business processes while also encouraging collaboration and partnerships – these are the tangible benefits blockchain brings to the table.”


Kindly share this post

Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

E-Business

Firm Enhances its Security Awareness Platform with SCORM and PDF Support

Published

on

Kindly share this post

Kaspersky has introduced an update to its Automated Security Awareness Platform, adding full support for PDF and SCORM (Sharable Content Object Reference Model) – the industry-standard protocol for deploying and managing e-learning content.

The enhancement enables organisations to build fully customised cybersecurity training programmes that reflect their infrastructure, risk profile, and internal policies, while continuing to benefit from Kaspersky’s expert-driven security content and phishing simulations.

According to the Kaspersky report titled “Redefining the Human Factor in Cybersecurity”, employees responding to phishing attacks was one of the main causes of cyber incidents in companies worldwide, accounting for 21% of cases among other reasons.

At the same time, additional Kaspersky research reveals that social engineering attacks are predicted to increase more than any other type in the nearest future, with 87% of respondents believing that social engineering attacks will become even more effective due to the use of AI tools.

The new Kaspersky Automated Security Awareness Platform (Kaspersky ASAP) update directly addresses several persistent challenges such as reducing the number of human-related incidents, cutting time spent on managing training programmes, decreasing regulatory and compliance risks, and minimising potential legal or reputational damage stemming from cybersecurity breaches.

With the new SCORM support, the platform becomes even more flexible: companies can now upload, track, and manage their own SCORM-based learning materials directly within the system. In addition, companies can accelerate their programmes by using easier-to-create PDF-formats.

This allows organisations to tailor training to their specific technology stacks and emerging threats targeting their industry or region. Businesses that have already invested in third-party SCORM courses or internal learning development can now seamlessly reuse their existing modules, protecting their prior investments while strengthening their cybersecurity posture.

The combination of Kaspersky’s embedded content built on real cases uncovered by the company’s world-class experts with customers’ PDF materials or SCORM modules enables a true best-of-breed approach to human risk management.

Organisations can supplement Kaspersky’s up-to-date cyberattack scenarios with internal policies, unique workflows, and industry-specific lessons, ensuring training resonates with employees and reflects real operational challenges.

“Human behaviour remains one of the most unpredictable elements in cybersecurity and also one of the easiest for attackers to exploit. By adding SCORM support to Kaspersky Automated Security Awareness Platform, we’re giving organisations the flexibility to build training programmes that truly match their internal realities.

“Combined with Kaspersky’s expert-driven content and real-world attack data, this update empowers companies to create more adaptive, relevant, and impactful awareness programmes than ever before,” comments Svetlana Kalashnikova, Security Awareness expert at Kaspersky.


Kindly share this post
Continue Reading

E-Business

NDPC, 60 DPAs Collaborate on Enforcing Privacy Rights in the Use of Al

Published

on

Kindly share this post

Nigeria Data Protection Commission (NDPC) has joined sixty (60) other Data Protection Authorities (DPAs) in endorsing the “Joint Statement on Al-Generated Imagery and the Protection of Privacy.”

NDPC, 60 DPAs Collaborate on Enforcing Privacy Rights in the Use of Al

NDPC

The Joint Statement was coordinated by the International Enforcement Cooperation Working Group (IEWG) of the Global Privacy Assembly.

This underscores the growing concerns regarding the privacy risks posed by Artificial Intelligence tools capable of generating realistic images and videos of identifiable individuals.

The Joint Statement highlights concerns over the misuse of Al-powered tools to create non-consensual imagery, defamatory content, and other harmful materials, particularly affecting children and vulnerable groups.

It calls on organisations to implement strong safeguards, ensure transparency, provide effective content removal mechanisms, and comply fully with applicable data protection laws.

The current effort forms part of a continuum of steps being taken by Nigeria to ensure the responsible use of Al. It will be recalled that the Honourable Minister of Communications, Innovation and Digital Economy, Dr ‘Bosun Tijani, led the initiative for the development of the National Al Strategy.

The NDPC also issued the General Application and Implementation Directive (GAID), which, amongst others, mandates privacy by design and privacy by default in the development and deployment of Al tools.

The National Commissioner/CEO of the NDPC, Dr Vincent Olatunji, has directed that the Nigeria Data Protection Act (NDP Act) Compliance Audit Returns (CAR) by data controllers and processors of major importance will serve as a yardstick for monitoring and evaluating responsible use of Al for data processing in Nigeria.


Kindly share this post
Continue Reading

E-Business

Jumia Tech Week 2026 Begins with Tech Deals on Smartphones, Electronics, and Everyday Technology

Published

on

Kindly share this post

Jumia Nigeria has announced the launch of Jumia Tech Week 2026, a two-week campaign offering customers access to discounted technology products across key categories, including smartphones, computing, home entertainment, and wearable devices.

Starting from March 2 to March 15, Jumia Nigeria’s Tech Week 2026 is themed ‘Tech Products for Less’ – a deliberate commitment by the e-commerce giant to drive down the cost of technology products for Nigerian consumers. The campaign offers significant price reductions across key product categories, enabling more Nigerians to access the devices they need at prices that reflect the company’s dedication to affordability and consumer value.

Jumia Tech Week will feature deals across a wide range of product categories, including mobile phones, computer systems and accessories, televisions and audio equipment, gaming products, home appliances, portable power solutions, health technology,, and wearable devices.

Customers will also have access to curated recommendations, including top smartphone deals, must-have accessories, gaming essentials, and home technology upgrades.

According to Temidayo Ojo, CEO of Jumia Nigeria, the campaign reflects Jumia’s broader commitment to making everyday technology more accessible to Nigerians.

“Technology has become an essential part of everyday life, and access to the right devices enables more people to participate fully in the digital economy,” said Ojo. “At Jumia, we remain focused on expanding access and improving the shopping experience as we continue to build Nigeria’s everyday retail destination.”

The campaign will include a range of customer engagement initiatives such as flash sales, brand days, anchor deals and interactive activities designed to enhance the online shopping experience.

Special highlight periods, described as Explosion Days, will take place on March 6 and March 13, featuring limited-time offers across selected technology categories. Customers will also be able to participate in interactive activities, including product-based games, treasure hunts,, and live shopping sessions during the campaign period.

The campaign will feature participation from leading brands including Oraimo, Silver Crest, Samsung, Ecoflow, Nivea and Aeon, offering customers a wide selection of technology, household and lifestyle products. Early access promotions already begun during the teaser period from February 16 to March 1, allowing customers to preview selected deals ahead of the official launch.

Jumia Tech Week forms part of the company’s broader strategy to expand e-commerce adoption by improving access to essential products and enhancing the customer experience across its platform. As Nigeria’s e-commerce market continues to grow, Jumia remains focused on strengthening its product assortment, logistics capabilities, and digital experience to serve customers better nationwide.

Customers can participate in the campaign by using the Jumia mobile app or visiting the Jumia website and following the conversation online using #JumiaTechWeek.

 


Kindly share this post
Continue Reading

Trending