UN Development Programme to Launch Blockchain Adoption Initiatives

UNDP to Boost Global Blockchain Adoption

The United Nations Development Programme (UNDP) is planning to launch two strategic initiatives designed to help countries adopt blockchain technology and promote its use across various sectors. Robert Pasicko, the leader of UNDP’s financial technology team, AltFinLab, stated at the UN City offices in Copenhagen, Denmark, that the organization intends to launch a blockchain education program for government officials, alongside the establishment of a specialized advisory body in this field.

This initiative complements the existing UNDP blockchain academy for UN staff, now aimed at assisting governments in implementing blockchain applications in real-world scenarios. Pasicko noted that the new academy will commence operations “in a few weeks” and will select four governments to collaborate with. He anticipates formal approval for this initiative within one to two weeks.

Education is Not Everything

Pasicko emphasized that “training is just part of the picture,” highlighting that the organization will also assist initiatives in advancing project development. He mentioned that research conducted by the UNDP identified 300 potential use cases for governments willing to adopt blockchain technology. The idea of creating a UNDP-led blockchain advisory organization was discussed during the UN General Assembly in New York, attended by 25 of the top blockchain companies, including the Ethereum Foundation, Stellar Foundation, and Polygon Labs. Pasicko added that “if everything goes well,” the project could start within two to three months.

Pasicko noted that the UNDP already has pilot projects in 20 countries aimed at improving financial inclusion through blockchain technology. Among the partners is Decaf, a cryptocurrency-powered payment system that helps individuals access financial services without the need for banks. Pasicko questioned, “How much longer do you need ordinary banks if you can bypass them with these apps?”

ATMs Heading the Way of Phone Booths

Pasicko compared the evolution of banking infrastructure to the decline of public phone booths, pointing out that these infrastructures are no longer necessary for their original purpose. He noted that they have evolved in some countries, and in Japan, they have become WiFi hotspots. He questioned, “The same question is, do you need ATMs in a few years? I don’t think so.”

When asked whether this change would be the result of cryptocurrencies, private stablecoins, or central bank digital currencies, Pasicko said he expects a combination of the three. He explained that different jurisdictions are likely to favor different solutions, but technology makes intermediaries unnecessary. He concluded, “You need an internet connection, you need your smartphone. You don’t need anything else for these transactions.”

However, Pasicko pointed out that “those who are in charge today are doing their best to stay in charge.” He emphasized that technologies can be used for good or bad, noting that fire can warm people when they need it or burn villages. According to him, blockchain is the same. He said that depending on how this technology is deployed, it can either widen the gap between the rich and powerful and the rest of the people, or it can serve the masses.