UNDP to Launch Blockchain Initiatives for Government Adoption

According to Cointelegraph, the United Nations Development Programme (UNDP) is preparing to introduce two new initiatives to assist countries in adopting blockchain technology. Robert Pasicko, who leads the UNDP’s financial technology team, AltFinLab, revealed these plans at the UN City offices in Copenhagen, Denmark. The initiatives include a blockchain education program for government officials and the establishment of a blockchain advisory body. This effort builds on the UNDP’s existing blockchain academy for UN staff, now extending its focus to help governments implement blockchain in practical applications. Pasicko mentioned that the new academy is expected to commence operations shortly, selecting four governments to collaborate with initially. He anticipates formal approval for the initiative within one to two weeks. The training is just one aspect of the program, as the organization also aims to support initiatives through project development. Research by the UNDP has identified 300 potential use cases for governments interested in adopting blockchain technology. The concept of a UNDP-led blockchain advisory organization was discussed during a UN general assembly in New York, attended by 25 leading blockchain companies, including the Ethereum Foundation, Stellar Foundation, and Polygon Labs. Pasicko indicated that if all goes well, the project could be operational within two to three months. The UNDP already has pilot projects in 20 countries focused on enhancing financial inclusion through blockchain technology. One of the partners in this endeavor is Decaf, a crypto-powered payment system that enables individuals to access financial services without traditional banks. Pasicko compared the evolution of banking infrastructure to the decline of public phone booths, suggesting that ATMs might become obsolete in the future. He noted that in some countries, phone booths have evolved to serve as WiFi hotspots, similar to how banking infrastructure might change. When asked about the potential impact of cryptocurrencies, private stablecoins, or central bank digital currencies, Pasicko expects a combination of all three to influence the future landscape. He emphasized that technology has made intermediaries unnecessary, requiring only an internet connection and a smartphone for transactions. Despite these advancements, Pasicko acknowledged that those currently in power are striving to maintain their positions. He highlighted that technology, like fire, can be used for both beneficial and harmful purposes. Depending on its deployment, blockchain technology could either exacerbate the divide between the rich and powerful and the rest or serve the broader population.