According to the World Bank , there is a direct relationship between a nation’s access to affordable and reliable energy and its economic growth. Ensuring access to affordable, reliable, sustainable and modern energy for all is one of the United Nation’s Sustainable Development Goals for 2030 (SDG 7).
Despite being Africa’s largest producer of oil and natural gas, multiple sources estimate that majority of Nigeria’s population are unable to access uninterrupted electricity to fulfil basic needs. In many areas especially the more remote areas, those connected to the main electricity grid experience intermittent energy supply everyday.
There is also a lack of renewable energy in Nigeria as renewable energy accounts for only 13% of the total electricity generated (GIZ). This further emphasises the shortfall in regard to SDG7. Energy supports the provision of basic needs and fuels productive activities including developments in the technology sector.
Over the last couple of years, Nigeria has witnessed a rapid proliferation of capital into the tech startup ecosystem with over $100M raised in the FinTech ecosystem between 2015–2017 alone (Github). Our hypothesis is that the longevity and growth of Nigeria’s startup ecosystem is highly dependent on access to affordable and reliable sources of energy.
The energy sources and distribution mechanisms in Nigeria therefore need to be diversified to meet the rising energy demand from the population so as to avoid crippling Nigerians’ entrepreneurial spirit.
Introducing EthLagos
The vision of ETHLagos is to leverage blockchain technology to add value to the Nigerian and ultimately the African energy sector. Blockchain systems provide the facility for peer to peer exchange of assets and in the case of electricity, blockchain systems could enable a cost reduction where energy is traded directly between the producer and the consumer and more people have access to energy.
In addition, blockchain based energy solutions make energy exchange more secure using the security and immutability of the blockchain. ETHLagos seeks to help find sustainable solutions to transform and support projected economic growth and development in the country and continent as a whole.
ETHLagos is a hackathon where software developers and entrepreneurs will have the opportunity to learn about blockchain and energy through a variety of workshops delivered by blockchain and energy experts from GIZ, IEEE, ABA, ETHImpact and other global partners.
There will be 4 days of virtual and in person workshops and 2 days of coding. This is to give coders (software developers) enough time to get up to speed on the principles of blockchain and energy. The engagement doesn’t just end after the hackathon.
The ETHLagos team has put plans in place to keep supporting winning teams and solutions with incubation, acceleration and mentorship post the hackathon through an extensive network of international partners, mentors and innovation hubs.
Hackathon participants will also have the opportunity to pioneer blockchain pilots for the energy sector which could lead to building sustainable businesses in the long run. Ultimately, ETHLagos is seeking to complement ongoing activities in the energy sector and speed up developments using the potential of blockchain and related innovations.
ETHLagos welcomes attendees and applicants from all walks of life including startups, corporations, software developers/coders, energy engineers, entrepreneurs, community members, everyone!
Application tracks are grouped into hackers (both tech and non-tech people are welcome — software developers, energy engineers, entrepreneurs, product designers, sales and marketing people anyone), judges and volunteers. Let’s all build decentralised energy together! Apply today! Visit our website: https://ethlagos.io.
Follow us on Twitter: @ethlagos
Dates: March 29 — April 4th 2020
Location: Lagos, Nigeria.
For inquiries, please email info@afriblockchain.org; tweet or dm @ethlagos or visit our website