The UNDP’s Universal Trusted Credentials will get its second trial in Cambodia. The plan is to create a 10-country ecosystem.
Cambodia has been chosen as the site of a pilot program for a blockchain-based platform for the Universal Trusted Credentials , a digital credentialing system developed by the United Nations Development Program . The Dfinity Foundation, developer of the Internet Computer blockchain, will work with the UNDP on the program.
Internet Computer will provide infrastructure for securing and managing UTC. The Singapore Monetary Authority and other bodies collaborated with UNDP on UTC, which was introduced in November and intended to encourage the participation of micro, small and medium enterprises in the digital economy.The pilot is expected to roll out in ten countries in time.
“MSMEs represent the backbone of most economies, and the UTC initiative represents a unique opportunity to bring transparency and increase inclusion within a financial system that often fails to cater to their needs.”using the UTC in May. That project used a semi-fungible token to transfer such information as licenses and trade records. Know Your Customer verification can also be included in an SFT.ICP, Cambodia are ready partners for UNDP projectto cloud providers.