The United Nations Development Programme (UNDP) has allied with the DFINITY Foundation to leverage the Internet Computer Protocol’s (ICP) decentralized digital identity solutions, known as Internet Identity (II). This initiative will culminate in a prototype for a Universal Credentialing Technology (UCT) pilot in Cambodia.

This collaboration signifies a significant advancement in bolstering digital trust and enhancing financial inclusion for Micro, Small, and Medium Enterprises (MSMEs) worldwide, according to the UNDP.

“This alliance with the DFINITY Foundation represents a crucial step in our mission to foster digital inclusion and economic empowerment for MSMEs in Cambodia,” asserted Marcos Neto, UN Assistant Secretary-General and Director of UNDP’s Bureau for Policy and Programme Support.

Pilot Program to Expand Across Ten Nations

Blockchain technology’s potential to augment user security and streamline digital credentialing systems is pivotal for driving sustainability and economic growth. The UCT solution, embodying blockchain-based innovations, is aimed at furthering the adoption of digital technologies, Neto elaborated.

While the initial pilot targets MSMEs in Cambodia, the UNDP envisions scaling the UCT solution to encompass ten countries. This initiative aligns with UNDP’s broader objective of harnessing blockchain technology and innovation to advance the Sustainable Development Goals (SDGs), as stated in their press release.

Developed in conjunction with the Monetary Authority of Singapore (MAS) and other strategic partners, UCT represents a cornerstone of UNDP’s efforts to integrate blockchain solutions for sustainable development.

Recent Developments and Future Prospects

DFINITY Foundation’s partnership with UNDP follows closely on the heels of their recent launch of an API designed to enhance blockchain interoperability. In June, the Internet Computer introduced Verified Credentials, a solution aimed at facilitating efficient and trustworthy sharing of personal data across Web3 platforms.

This burgeoning partnership between UNDP and the DFINITY Foundation not only underscores the transformative potential of blockchain technology but also sets the stage for significant strides in digital inclusion and economic growth for MSMEs globally.