KEY TAKEAWAYS
- The UNDP and Stellar Development Foundation have partnered to leverage blockchain technology for the United Nations’ Sustainable Development Goals.
- This collaboration aims to enhance financial inclusion by providing scalable blockchain solutions for equitable economic growth in developing regions.
- The initiative will use the Stellar network to improve access to digital financial services, focusing on transparent and efficient cross-border transactions.
- Key areas of focus include supporting humanitarian aid, remittances, and national cash transfer programs through secure, low-cost digital payment solutions.
The United Nations Development Programme (UNDP) in Europe and Central Asia has announced a strategic partnership with the Stellar Development Foundation (SDF) to leverage blockchain technology in support of the United Nations’ Sustainable Development Goals. This collaboration aims to promote financial inclusion globally by creating scalable blockchain solutions that foster equitable economic growth and enhance economic resilience in developing regions.
As part of this partnership, the UNDP and SDF will utilize the Stellar network and open-source tools to improve access to digital financial services. The initiative will facilitate transparent and efficient cross-border transactions and provide secure, low-cost digital payment solutions. These solutions are intended to support humanitarian aid, remittances, and national cash transfer programs.
The collaboration will focus on empowering underserved populations and encouraging innovation in emerging economies through joint pilots, knowledge sharing, and capacity building. Robert Pasicko, Project Manager of the Alternative Finance Lab at UNDP, emphasized the significance of this partnership, stating that it represents a pivotal step in using cutting-edge technology for sustainable development. He noted the potential of cryptocurrencies and digital wallets to drive meaningful change in development and humanitarian sectors.
Denelle Dixon, CEO of the Stellar Development Foundation, highlighted the alignment of this partnership with SDF’s mission to support global financial access. She expressed enthusiasm for the collaboration’s potential to drive innovation and empower communities worldwide. The announcement of this partnership can be found here.
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