United Nations to Adopt Blockchain- Secretary General

United Nations to Adopt Blockchain- Secretary General

United Nations secretary general Antonio Guterres who was first apathetical to blockchain technology, but his recent positive remark about blockchain is giving assurance to intergovernmental giant. Bitcoin generates $50 billion in revenue every year that attracted his mind. The secretary general told that the blockchain technology is exploring at an alarming rate mentioning the adoption by China government and the $6 billion United Nations Children’s Fund just started accepting bitcoin and ethereum donations for some of its projects.

To prevent money laundering and track citizens’ transactions, China is more focused on using blockchain. United Nations work has been more focused on giving donors their donations are being spent on the basis of their wish while deducting waste in the organization’s giant supply chain. Blockchain technology can help in achieving Sustainable Development Goals. Back in 2018, in a speech during Spanish and French on the global lack of trust, Guterres told this problem of lack of trust could be solved by blockchain with support from artificial intelligence and other technologies to help shine a light on the inner operations of global organizations. Along with this, Guterres cautioned about the potential misuse of near anonymous cryptocurrency payments. But he also paid negative opinion in regard of SDGs.

Actually there are five blockchain projects in the United Nations Innovation Network set up to facilitate inter-agency cooperation. With an eye to using the cryptocurrency to fund international startups using blockchain to solve problems, Unicef received its first bitcoin and ethereum donations in October 2019 from the Ethereum Foundation that supports the initiative of United Nations. It took years for Unicef to get sign off from dozens of internal stakeholders to accept cryptocurrency donations so that the world could give or receive the same asset.  

To ensure donated funds is spent in a proper way, other blockchain applications could take even longer to build. A 20-page strategic plan got published in September 2018 by the former prime minister of Portugal for using technology to accomplish the sustainable development goals. To accomplish the plan Guterres placed the responsibility for the coordination and implementation of the plan within his own executive office with the support of a new technology reference group. He will call for quarterly meeting to have updates on the progress.

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