According to TechFlow, financefeeds reported that the United Nations Development Program (UNDP) has cooperated with the DFINITY Foundation to use Internet Computer blockchain technology to enhance the "Universal Trusted Credentials" (UTC) program, which aims to enhance digital trust and financial inclusion for micro, small and medium-sized enterprises (MSMEs) around the world. The program was launched in conjunction with the Monetary Authority of Singapore (MAS) and other strategic partners to improve domestic and cross-border financing channels for MSMEs by promoting the adoption of blockchain solutions.
DFINITY Foundation will develop and test a prototype of the UTC pilot project in Cambodia, using the Internet Computer blockchain's Internet Identity (II) solution to ensure the secure storage and management of digital credentials. The project plans to expand to 10 countries after the pilot phase to promote transparency and inclusion of MSMEs. The move marks UNDP's efforts to use technology and innovation to achieve the Sustainable Development Goals (SDGs) to improve the living conditions of vulnerable groups.
