'How Blockchain will disrupt African media landscape'

• Published date: 09 January 2023
• Publication title: Nigeria - The Nation

Across the African continent, blockchain technologies have been finding real-world applications and SBI Media Workshop, for its third edition, held in Lagos recently, looked to unlock the potential of the technology which promises to disrupt the Nigerian media landscape.

Going by media reports, financial solutions are the most common uses of blockchain technologies on the continent. According to records in the PositiveBlockchain.io database, more than one third of Africa-related projects have their main focus in financial services. But this does not mean that blockchain cannot be applied to other sectors.

The key features of blockchain technology - distribution, immutability and automation - underpin its capacity to change the media sector by facilitating intellectual property protection, improve economic growth and bring about social progress.

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To this end, SBI Media Workshop 2022, attended by over 200 live participants and more than 1000 on digital channels, sought to expand on the potential for blockchain to improve practices and revenue generation for young entrepreneurs.

'The blockchain offers revolutionary opportunities for content creators and media owners and this is the best time to start exploring what's possible,' said the workshop founder, Rotimi Bankole, who also doubles as the CEO of SBI Media, a nearly 10-year-old multinational media agency.

To provide the insights that should help unlock the vision behind the programme, organisers pulled together industry experts and innovators to teach on key topics.

Speakers at the event include Olubunmi Fabanwo, affiliate program manager for the world's largest blockchain start-up Binance Africa, who is also a founding partner at Ports Connect. There was also Opeyemi Awoyemi, serial investor and founder of Nigeria's largest web host Whogohost and the job portal Jobberman, who delivered his presentation via video link from his base in Austin, Texas.

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Others were Fisayo Fosudo, tech media entrepreneur and YouTube content creator; Nsikan Benjamin, of Binance West Africa; Tolulope Aderemi, partner at the Lagos law firm Perchstone and Graeys; Emmanuel Ebanehita, of Binance Africa; Chris Ani, CEO, Digital Abundance Holdings; and Ugochukwu Obi, also a partner at Perchstone and Graeys.

The concept of blockchain and its use-cases are still being explored and understood by innovators, entrepreneurs and businesses. The unilateral goal now, per...