Coronavirus: Economic expert urges FG to explore Block-chain option to avert looming recession

By Anthony Momodu

An economic expert, Amos Sewanu Omotade-Sparks, has urged the Federal government to engage more in economic diversification as a panacea to the dwindling economic climate occasioned by the rampaging Coronavirus pandemic.

Omotade-Sparks, who is the President of InksNation DAO Foundation, spoke in an interview in Abuja and said the time has come for Nigerians and Nigeria to expand their frontiers of financial opportunities in a bid to avert looming recession.

He submitted that Block-chain economy has now emerged as a digital solution around the globe capable of turning the fortunes of any individual, organisation and the entire country.

He said, “Coronavirus has hit the country’s economy hard. People are losing their jobs. What is left for Nigerians now is to fashion out ways to function as entrepreneurs using digital technology.

“Block chain means of staying economically viable is rewarding and impactful. Over 500, 000 Nigerians have already benefited because of the need to alleviate poverty. We have people in almost every region and local government areas in the country.

“It is also a super solution to any organisation, company or the government. At the moment, many offices are struggling to pay their workers’ salary. Some have already sacked most of their staff due to paucity of funds occasioned by the present realities, but the use of block chain option will guarantee revival of many dying companies. With this, issues associated with payment of staff salary will be a thing of the past.

“This model of business is capable of making Nigeria not just the giant of Africa, but the entire world. We are ready to partner relevant government agencies or bodies. I will also want to suggest that the federal government should use this digital market option to create competitiveness while exploring innovations that will enable the economy to bounce back in full force. If this is done, I can assure that within months even with COVID-19, people will smile again because the pandemic has set us back a lot.

“The general public needs block chain means of getting income daily, weekly and monthly. And it’s open to all. As a philanthropic block, we are centred on using the digital economy to fight poverty. As a neutral technology, whatever you want to achieve is your decision.”

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