Cambodia has been selected as the location for a trial run of a blockchain-powered platform for Universal Trusted Credentials (UTC), a digital credential system created by the United Nations Development Program (UNDP). The Dfinity Foundation, known for the Internet Computer blockchain, will collaborate with UNDP on this initiative. Internet Computer will offer the necessary infrastructure for securing and managing UTC. The pilot program, involving the Singapore Monetary Authority and other organizations, aims to promote the involvement of small and medium enterprises in the digital economy. The project, set to expand to 10 countries, utilizes semi-fungible tokens (SFT) for transferring licenses and trade records. Additionally, Cambodia's favorable environment for digital innovation is highlighted, with initiatives like the CBDC-like Bakong currency and collaborations with Binance for digital asset regulation. Internet Computer's decentralized ecosystem is also making strides in providing alternatives to traditional cloud services, offering enhanced security measures for government agencies and enterprises. Read more AI-generated news on: https://app.chaingpt.org/news