UN and Dfinity Foundation launch digital credential pilot project in Cambodia

The United Nations Development Program (UNDP) has partnered with the Dfinity Foundation to launch a blockchain-based Universal Trusted Credentials (UTC) pilot project in Cambodia. Internet Computer will provide the security management infrastructure, and the Monetary Authority of Singapore and other institutions are also involved. The project aims to encourage micro, small and medium-sized enterprises to participate in the digital economy, and plans to eventually promote it in ten countries. Dominic Williams, founder of the Dfinity Foundation, said that UTC will bring transparency and inclusion to the financial system. Previously, the Monetary Authority of Singapore and the Bank of Ghana had completed a proof of concept using UTC. Cambodia is well-equipped for digital asset regulation and central bank digital currency, and has cooperated with Binance and Alipay networks. This pilot project will provide a decentralized and secure digital ecosystem for governments and businesses.