Daniel Adaji
The Digital Asset Management Academy (DAMA) has called for the deliberate adoption of blockchain, digital assets and artificial intelligence as pillars of Nigeria’s economic transformation, declaring that the country must position itself as a contributor to the emerging global digital economy rather than a passive observer.
At a press conference held Tuesday in Abuja in collaboration with the Department of Science, Technology and Innovation (DSTI), the Academy rallied policymakers, media practitioners, innovators and investors around the theme, “One Conference, Three Technologies, Endless Possibilities.” The event spotlighted blockchain, digital assets and AI, using Body Scan AI as a practical case study.
Nwankwo Prince Ozioma, Chief Executive Officer of DAMA Academy Abuja, framed the engagement as a defining national moment. He said the gathering represented more than a routine press briefing but a convergence at what he described as the intersection of transformation.
According to him, the world is living in a defining era shaped by emerging technologies such as blockchain, digital assets and artificial intelligence. He stressed that these innovations are not passing trends but foundational systems reshaping global economies, governance structures, healthcare delivery, finance and human interaction.
Situating Nigeria within the broader global evolution of cryptocurrency and intelligent systems, Ozioma traced the journey from Bitcoin’s emergence in 2009 as a decentralized alternative to traditional finance to the rise of programmable blockchain networks such as Ethereum. He noted that the digital asset ecosystem has since matured into a trillion-dollar industry.
Referencing this trajectory, he pointed to Bitcoin’s role in igniting decentralized finance, breakthrough artificial intelligence research from OpenAI, and enterprise blockchain adoption by institutions such as IBM and the United States government as evidence that the world is shifting toward a decentralized and intelligent digital economy. He posed what he described as a defining question for Nigeria, whether the country would participate or merely observe.
Ozioma maintained that blockchain introduces transparency without intermediaries, digital assets enable programmable and borderless finance, and artificial intelligence drives automation and predictive decision-making at scale.
He emphasised that these technologies are projected to contribute trillions of dollars to the global economy in the coming decade and warned that Africa, Nigeria and particularly the nation’s youth must not be left behind.
He argued that, if properly harnessed, blockchain and AI could reduce corruption through transparent systems, improve healthcare delivery, increase financial inclusion, enable smart agriculture and logistics, and create high-paying digital jobs. He described the push as a matter of building generational capacity, safeguarding digital sovereignty and positioning Nigeria as a contributor rather than a consumer of global innovation.
Addressing journalists directly, Ozioma said technological revolutions gain momentum when they are properly understood. He recalled that the internet, mobile banking and digital currencies were once misunderstood or dismissed, but later became integral to modern economies.
He urged the media to see itself not merely as a recorder of events but as interpreters of the future and translators of innovation capable of fostering public confidence.
While advocating widespread adoption, he stressed the importance of regulatory clarity and ethical safeguards. According to him, blockchain must be applied wisely, artificial intelligence must be governed responsibly, and digital assets require literacy, discipline and consumer protection frameworks.
He called for transparent token economics, anti-fraud awareness and knowledge-based reporting to curb misinformation.
Looking ahead, Ozioma said the Academy envisions universities integrating blockchain and AI into their curricula, media organizations establishing dedicated technology desks, government agencies collaborating with innovators, and healthcare institutions embracing AI-enhanced diagnostics.
He warned that the future economy will reward those who prepare early and insisted that the technological revolution is already underway.
Delivering a lecture titled “The Global Bitcoin Race: What It Signals for the Next Generation of High-Utility Digital Assets,” Paul Elombah focused on the geopolitical and economic implications of digital assets.
He cited El Salvador’s adoption of Bitcoin as legal tender in 2021, Bhutan’s hydro-powered Bitcoin mining initiatives, and the United States’ position as one of the largest holders of Bitcoin reserves, largely through seizures. He added that other nations, including France, are exploring strategic reserves, emphasising that digital assets have moved beyond retail speculation into the realm of sovereign strategy.
Elombah described Bitcoin as evolving into “digital gold,” citing its limited supply of 21 million coins, borderless architecture and perceived hedge against inflation and currency debasement. He argued that when nations accumulate Bitcoin, they are positioning ahead of a broader monetary shift.
He further stressed that the next phase of the digital asset ecosystem will prioritize functionality over hype. According to him, the next cycle will reward utility, artificial intelligence integration and real-world use cases.
He distinguished between Bitcoin as digital gold and utility-driven AI tokens, such as Body Scan AI, which he characterized as digital infrastructure supporting practical solutions.
Moses Obaje of DAMA Academy provided technical insight into the technologies underpinning the conference theme.
He defined blockchain as a decentralized, distributed public digital ledger used to record transactions across multiple computers in a way that prevents retroactive alteration without network consensus.
He identified its core features as decentralization, immutability, consensus and traceability, the ability to track an asset’s journey from origin to destination.
Obaje described artificial intelligence as a branch of computer science that develops machine systems capable of demonstrating behaviors associated with human intelligence. He explained that AI systems learn from data to perform tasks such as planning, perception, pattern recognition and problem-solving.
Presenting Body Scan AI as a practical demonstration, he said the platform is an AI-powered Android and iOS application designed to analyze and interpret full-body scans for early detection and diagnosis of a wide range of medical conditions. The system processes high-resolution imaging data, including X-rays, MRIs, CT scans and ultrasounds, to detect abnormalities such as tumors, fractures and organ malfunctions. It also enables real-time scans to monitor wellness trends, fitness progress and potential health risks.
He explained that the project integrates blockchain technology to secure medical records, giving users control over their data while ensuring transparency and protection against breaches.
Consultations, reports and transactions are recorded on-chain to reduce intermediaries.
Obaje added that the ecosystem is powered by its utility token, $SCANAI, built on the Solana blockchain. Users earn tokens through participation in scans, fitness tracking and data-sharing initiatives and may redeem them for health-related goods and services. The token has a fixed supply of one billion units and was priced at $0.000172 at the time of presentation.
Also speaking at the event, a retiree Mrs. Shiphrah Poloma, popularly known as Digital Mama, addressed the implications of digital assets for retirement planning among public and civil servants.
In her presentation titled “Digital Assets as a Retirement Plan for Public and Civil Servants in Nigeria,” she cited structural weaknesses in Nigeria’s traditional pension system. She highlighted concerns over job insecurity, downsizing, outsourcing and uncertainties surrounding retirement age, typically set at 60 or 65 years, or after 35 years of service.
Poloma noted that while the Contributory Pension Scheme is funded by employers and employees and managed by third-party custodians, it is largely limited to conservative instruments such as treasury bills.
She identified challenges including delayed payments, discrepancies in fund distribution, limited pre-retirement access and institutional vulnerabilities, arguing that low returns combined with inflation risks often erode retirees’ purchasing power.
She stated that digital assets, driven by blockchain technology, offer opportunities for higher returns, diversification and passive income. However, she cautioned that such investments remain volatile and require careful assessment of risk tolerance, regulatory frameworks and adequate financial education.
She noted that proactive planning, regulatory awareness and a disciplined long-term investment approach are essential for achieving sustainable retirement outcomes.
