United Nations Development Programme (UNDP) and DFINITY Foundation reach cooperation

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Odaily2024/07/03 13:24

By:Odaily

Odaily News The United Nations Development Program (UNDP) is working with the DFINITY Foundation to leverage the Internet Computer Blockchain technology to enhance the Universal Trusted Credentials (UTC) program. The collaboration aims to increase digital trust and financial inclusion for micro, small and medium-sized enterprises (MSMEs) around the world. It is reported that the UTC framework was jointly launched by the Monetary Authority of Singapore (MAS) and other strategic partners to enhance SMEs access to financing domestically and across borders by fostering trust in digital data. By promoting the adoption of blockchain-based solutions, the UTC program aims to create a sustainable financial ecosystem to empower SMEs. The DFINITY Foundation will use its expertise in decentralized computing and digital identity solutions to develop and test prototypes for the UTC pilot program in Cambodia. The Internet Identity (II) solution of the Internet Computer blockchain will ensure the secure storage and management of digital credentials, thereby enhancing the credibility of the UTC system. (financefeeds)

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