Main Points:
- UNDP partners with DFINITY Foundation to enhance financial inclusion for MSMEs using blockchain technology.
- DFINITY Foundation to leverage Internet Computer (ICP) blockchain for UN’s Universal Trusted Credentials (UTC) initiative.
- Prototype using decentralized digital identity solutions to be tested in Cambodia pilot program.
- Goal to scale UCT solution to cover 10 countries and achieve Sustainable Development Goals.
UNDP and DFINITY Foundation Collaboration
The partnership between the United Nations Development Programme (UNDP) and the DFINITY Foundation aims to improve financial inclusion for Micro, Small, and Medium Enterprises (MSMEs) by utilizing blockchain technology. This collaboration will leverage the Internet Computer (ICP) blockchain to develop and implement the UN’s Universal Trusted Credentials (UTC) initiative.
Pilot Program Expansion and Blockchain Technology
By utilizing blockchain technology, the UTC solution aims to enhance digital trust and financial inclusion for MSMEs globally. The pilot program in Cambodia will serve as a testing ground, with plans to scale the initiative to cover 10 countries. This partnership underscores the importance of blockchain-based solutions in driving sustainability and economic growth.
UNDP’s Strategic Goals and Partnership
UNDP’s collaboration with the DFINITY Foundation represents a significant step towards advancing digital inclusion and economic empowerment for MSMEs in Cambodia. The organization’s broader goal of leveraging blockchain technology and innovation to achieve Sustainable Development Goals (SDGs) is highlighted through the UTC initiative. By partnering with strategic entities like the Monetary Authority of Singapore (MAS), UNDP is committed to driving the adoption of digital technologies through solutions like UTC.
