The Nigeria Civil Aviation Authority (NCAA) has selected a blockchain-powered platform to offer assistance to stranded or dissatisfied passengers, while also reducing operational risks for airlines.
According to local reports, Breezetech Technologies was chosen for its highly implementable solution as revealed by NCAA’s Director, Public Affairs and Consumer Protection, Michael Achimugu.
Achimugu said that the agency had been in discussions with insurance firms to formulate a new system that meets the consumer’s protection needs without risking the operator’s business.
Achimugu described the solution as a four-way marriage between:
- Technology
- Insurance
- Operators, and
- The regulator
“Of all the models presented to the Authority, Breezetech Technologies has been selected as the most implementable. There is a blockchain portal that offers almost immediate comfort to stranded or dissatisfied passengers while still at the terminals but also factors in the interest of the airlines.
The Authority has looked at the Breezetech blockchain portal and the pedigree of the brain behind it.
We have peeled back layer upon layer from the many possible solutions on offer, and it is the measured conclusion of the NCAA that what we are about to discuss here today, is, on paper, the most practicable model available to all stakeholders for now.
It is important that this project has the buy-in of the operators.
We want to build something that is suitable to our peculiar situation. Also, because we seek a holistic approach to resolving consumer protection, data gathering, passenger identification, and security issues, this project is being expanded to cover more than just additional insurance,” Achimugu said.
The measure is the latest by a Nigerian governmental body in adopting blockchain innovations to solve societal problems.
The Central Bank of Nigeria made headlines in 2021 when it became the first in Africa to introduce a Central Bank Digital Currency (CBDC) called eNaira, utilizing a private blockchain based on Hyperledger Fabric.
[WATCH] The Nigerian 🇳🇬 eNaira Central Bank Digital Currency – The First CBDC in Africa – Goes Live: https://t.co/aD1FKpptps #eNaira @cenbank
— BitKE (@BitcoinKE) October 26, 2021
Meanwhile, the National Information Technology Development Agency (NITDA) says it is developing the ‘Nigerium’ indigenous blockchain to safeguard national security.
🇳🇬REGULATION | Nigeria Set to Build The ‘Nigerium’ Indigenous Blockchain to Safeguard National Security, Says Director-General, NITDA
The Director-General stated this when he welcomed a delegation from the University of Hertfordshire Law School, in Abuja, adding that that the… pic.twitter.com/aDSHgjtqXk
— BitKE (@BitcoinKE) July 9, 2024
As reported by BitKE in August 2022, the Nigerian stock exchange said it plans to start a blockchain-enabled exchange platform to deepen trade and lure young investors to the market following the introduction of regulations to guide trade in digital assets by the Nigerian Securities and Exchange Commission.
The Nigerian Stock Exchange Plans to Adopt Blockchain in 2023 in Bid to Lure Youth Traders https://t.co/YNNeG00Lo5
— Harri Obi (@Harri_obi) June 17, 2022
In 2024, the Nigerian Inter-Bank Settlement Scheme (NIBSS), jointly owned by all licensed banks, including the Central Bank of Nigeria (CBN), adopted Zone, a blockchain-based point-of-sale (POS) terminal payment system. The move is expected to significantly enhance the reliability and security of transactions while ensuring efficient and secure processing.
🇳🇬 BANKING | The Nigerian Inter-Bank Settlement Scheme (NIBSS) Adopts Zone’s Point-of-Sale Blockchain System to Process Transactions
Zone, the only blockchain financial institutions licensed to provide switching and processing services in Nigeria, runs a layer 1 blockchain… pic.twitter.com/00ey2Aiu9d
— BitKE (@BitcoinKE) August 22, 2024
Blockchain technology is seen by authorities as having the potential to revolutionize many industries, from finance and healthcare to transportation and supply chain management. It makes transactions more transparent, trustworthy, and efficient, resulting in considerable cost savings and better user experiences.
Furthermore, the government sees blockchain as something that can boost innovation, improve public services, create job opportunities, and drive economic growth.
____________
About NCAA
By virtue of Section 8 (3) of Civil Aviation Act 2022, Nigeria Civil Aviation Authority (NCAA) is the sole civil aviation regulatory body in Nigeria; this is notwithstanding anything contained in any other law.
It became autonomous with the passing into law of the Civil Aviation Act 2022 by the National Assembly and its assent by the President of the Federal Republic of Nigeria. The Act not only empowers the Authority to regulate Aviation Safety without political interference but to also carry out oversight functions of Airports, Airspace, Meteorological Services, etc as well as economic regulations of the industry.
Join and interact with our Telegram community
___________________________________________
___________________________________________
