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

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. The UTC framework, launched by the Monetary Authority of Singapore (MAS) and other strategic partners, aims to enhance domestic and cross-border access to financing for MSMEs 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 MSMEs. The DFINITY Foundation will leverage its expertise in decentralized computing and digital identity solutions to develop and test prototypes for the UTC pilot program in Cambodia. The Internet Computer blockchain's Internet Identity (II) solution will ensure the secure storage and management of digital credentials, thereby enhancing the credibility of the UTC system. (financefeeds)