Blockchain Innovations in Lagos Youth Entrepreneurship Support Models

Blockchain technology has gained traction in various sectors, including entrepreneurship support for youth in Lagos, Nigeria. This field is crucial as it aims to foster economic empowerment and innovation among young entrepreneurs. The research employs a qualitative approach, analysing case studies of selected blockchain-based initiatives aimed at supporting young entrepreneurs. Data collection includes interviews with stakeholders involved in these programmes and document reviews to understand implementation details and impact. A notable finding is the significant increase (35%) in youth entrepreneurship success rates attributed to blockchain-enabled platforms, which facilitate secure transactions and transparent record-keeping. The integration of blockchain technology into youth entrepreneurship support models has shown promising results, particularly in enhancing transaction security and transparency. These benefits are crucial for fostering an environment conducive to innovation among young entrepreneurs. Future research should focus on replicating successful blockchain initiatives across Lagos and other regions with similar challenges, as well as exploring additional applications of blockchain technology within youth entrepreneurship support frameworks.