Cambodia has been selected for a pilot project based on the Universal Trusted Credentials (UTC) blockchain platform developed by the United Nations Development Program (UNDP). Internet Computer blockchain developer Dfinity Foundation will work on the program with UNDP. 🌐
Internet Computer will provide the infrastructure to secure and manage UTC. The UTC system, introduced in November, aims to encourage micro, small and medium-sized enterprises to participate in the digital economy.
The pilot project is expected to be launched in ten countries. “SMEs are the backbone of most economies, and the UTC initiative represents a unique opportunity to bring transparency and increase inclusivity to a financial system that often fails to meet their needs,” said Dfinity Foundation founder, Dominic Williams.
Cambodia is fertile ground for digital experimentation. The Cambodian Securities and Exchange Regulator has an agreement with Binance to develop regulation of digital assets.