The United Nations Development Programme (UNDP) has announced plans to launch two new initiatives focused on assisting countries in adopting blockchain technology.
Robert Pasicko, the head of UNDP’s financial technology team, AltFinLab, revealed to Cointelegraph at the UN City offices in Copenhagen, Denmark, that the organization will introduce a blockchain education program for government officials, as well as establish a blockchain advisory body.
This move expands on UNDP’s existing blockchain academy for UN staff, with a focus on supporting governments in implementing blockchain in practical applications.
Pasicko disclosed that the new academy will commence operations in a few weeks and will collaborate with four selected governments. He anticipates formal approval for the initiative within one to two weeks.
“Training is just one aspect,” Pasicko emphasized, highlighting that UNDP will also assist initiatives in advancing through project development. The organization’s research identified 300 potential use cases for governments interested in integrating blockchain technology.
Flag of the United Nations at UN City in Copenhagen. Source: Wikimedia
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UN blockchain advisory group in development
Pasicko mentioned that the concept of a UNDP-led blockchain advisory organization was deliberated during a UN general assembly in New York with representatives from 25 leading blockchain companies, including the Ethereum Foundation, Stellar Foundation, and Polygon Labs. He projected that the project could go live in two to three months if all goes well.
Furthermore, Pasicko highlighted that UNDP currently has initiatives in 20 countries aiming to enhance financial inclusion through blockchain technology. One of its partners, Decaf, offers a crypto-powered payment system that enables individuals to access financial services without traditional banks. “Why rely on traditional banks when you can utilize such apps?” Pasicko questioned.
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ATMs are going the way of phone booths
Pasicko drew parallels between the evolution of banking infrastructure and the decline of public phone booths, illustrating how these structures are no longer essential for their original purpose. He pointed out that in some countries, phone booths have transformed into WiFi hotspots, similar to Japan.
“Will we need ATMs in the future? I don’t think so,” he expressed.
When asked about the impact of cryptocurrencies, private stablecoins, or central bank digital currencies on this shift, Pasicko suggested a combination of all three. He asserted that different regions may prefer distinct solutions, but technology renders intermediaries obsolete.
“All you need for these transactions is an internet connection and a smartphone,” he stated.
However, Pasicko acknowledged that current authorities are striving to maintain control. He emphasized that technologies can be used for both positive and negative purposes, likening blockchain to fire that can either provide warmth or destruction, depending on its deployment.
According to Pasicko, blockchain has the potential to either exacerbate the wealth gap or benefit the masses, contingent on its utilization.
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