The United Nations Development Programme (UNDP) is preparing to roll out comprehensive blockchain education programs specifically designed for government officials. This initiative will be accompanied by the establishment of an advisory body, which is expected to be formed within the coming weeks.
Robert Pasicko, the head of UNDP's AltFinLab fintech team, shared these details during an announcement made at the UN City offices located in Copenhagen.
Pilot Program and Global Expansion
Four governments have been identified for the initial phase of collaboration, with formal approval anticipated within the next one to two weeks. This program represents an expansion of UNDP's existing blockchain academy, which has been training UN staff, into practical applications for governmental use. The initiative encompasses training as a core component, alongside providing support for project development to help these initiatives move forward beyond the educational stage.
Identifying Use Cases and Piloting Initiatives
UNDP's research has identified approximately 300 potential use cases for blockchain technology within government operations. The organization is currently running pilot projects in 20 countries. These pilots are primarily focused on enhancing financial inclusion through the development of cryptocurrency infrastructure. In this endeavor, UNDP is partnering with Decaf, a crypto-powered payment system designed to provide financial access without the need for traditional banking institutions.
Formation of a Blockchain Advisory Organization
In New York, during the UN General Assembly, twenty-five prominent blockchain companies convened to discuss the formation of a UNDP-led advisory organization. Among the participants were representatives from the Ethereum Foundation, the Stellar Foundation, and Polygon Labs. Pasicko indicated that the project has the potential to launch within the next two to three months.
Reshaping Financial Systems and Intermediaries
Pasicko drew a parallel between the evolution of banking infrastructure and the decline of public phone booths, questioning the long-term necessity of ATMs in the coming years. He anticipates that a combination of cryptocurrencies, private stablecoins, and central bank digital currencies will fundamentally alter financial systems, with different jurisdictions likely to adopt varying solutions based on their specific needs and preferences.
Technology has the power to eliminate traditional intermediaries, with transactions requiring only internet connectivity and smartphones. Pasicko stressed that the implementation of blockchain technology could either exacerbate wealth disparities or significantly benefit the masses, depending entirely on the approaches taken. He noted that those currently in positions of power are striving to maintain their control, but the inherent dual-use nature of blockchain technology means that the ultimate outcomes will be determined by how governments and institutions choose to deploy these solutions.