According to Odaily, the United Nations Development Programme (UNDP) is partnering with the DFINITY Foundation to leverage internet computer blockchain technology to enhance the Universal Trust Credentials (UTC) program. This collaboration aims to increase digital trust and financial inclusion for micro, small, and medium-sized enterprises (MSMEs) globally.
The UTC framework, launched by the Monetary Authority of Singapore (MAS) and other strategic partners, seeks to boost the chances of MSMEs securing 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 that empowers MSMEs.
The DFINITY Foundation will utilize its expertise in decentralized computing and digital identity solutions to develop and test prototypes for Cambodia's UTC pilot program. 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.