TechFlow news, according to financefeeds, the United Nations Development Programme (UNDP) has partnered with the DFINITY Foundation to enhance the "Universal Trusted Credentials" (UTC) initiative using Internet Computer blockchain technology, aiming to improve digital trust and financial inclusion for micro, small, and medium-sized enterprises (MSMEs) globally. Launched together with the Monetary Authority of Singapore (MAS) and other strategic partners, the initiative seeks to improve MSMEs' access to domestic and cross-border financing by promoting the adoption of blockchain solutions.
The DFINITY Foundation will develop and test a prototype for the UTC pilot project in Cambodia, leveraging the Internet Identity (II) solution on the Internet Computer blockchain to ensure secure storage and management of digital credentials. The project is planned to expand to 10 countries following the pilot phase, advancing transparency and inclusivity for MSMEs. This effort marks UNDP's commitment to leveraging technology and innovation to achieve the Sustainable Development Goals (SDGs), aiming to improve living conditions for vulnerable populations.
