UNDP & BCF partners as blockchain “will bring transformative solutions to social problems”
Blockchain is spreading out its wings as United Nations Development Programme [UNDP] and Blockchain Charity Foundation [BCF] come together. The technology enjoys an edge over other existing applied sciences by not remaining confined to the domain of cryptocurrency and broadening its spectrum of application by addressing issues of society. According to an official notification, the 73rd UN General Assembly has witnessed the declaration of $1 million contribution of Blockchain Charity Fund to UNDP.
The Objectives of BCF and UNDP
The organisations co-hosting the event include BCF, Women Political Leaders Global Forum (WPL) and Finance Center for South-South Cooperation (FCSSC). On entering into a partnership with UNDP, BCF’s primary objective include eradicating the level of poverty,thereby, bringing prosperity among those living in economic downtrodden condition and equally, promoting empowerment of all.
Referring to the context of new collaboration, BCF head Helen Hai has stated, ”We are honored to host this meeting today, and partner with UNDP to provide social impact financing and improve philanthropy with blockchain.” On the other hand, a statement from UN’s Assistant Secretary General Haoliang Xu suggests that the technology “can have a huge impact in the developing world in numerous ways.”
Futhermore, Hai of BCF is ascertain this advanced form of technology will find application in societal aspects, at large and “will bring transformative solutions to social problems, and help bridge the UN Sustainable Development Goals funding gap in fast and innovative ways.” Also, Xu, who happens to be UNDP’s Regional Bureau Director for Pacific and Asian regions expressed his excitement “to see the strong commitment from BCF to work with UNDP to explore how blockchain technology can help develop solutions to some of the most difficult development challenges in Asia and the Pacific.”
The Asia Pacific region gets a special emphasis from BCF as UNDP already begun exploring blockchain based projects in that geographical location. With this new association, BCF seeks to provide a boost for greater, better and innovative application of the blockchain to the developmental problems of the society. UNDP and the Indian state of Haryana have come together to highlight the beneficial purposes of this technology.
It is interesting to note that the big shots of the crypto world, namely, Binance exchange and Tron Foundation share significant linkage with BCF, a non-profit organisation that leverages blockchain to achieve Sustainable Development Goals and UN 2030 Agenda. BCF is originally a Binance cryptocurrency trading platform initiative. Also, Tron founderm Justin Sun has commented, “Tron is looking forward to collaborating with BCF to contribute to SDG achievement with industry leaders worldwide.”
In this occasion, Finance Centre for South-South Cooperation (FCSSC) executive President Zhang Zhiping supporting BCF has commented, “FCSSC has paid close attention to blockchain technology.” He has further stated, “We look forward to seeing this technological revolution facilitate international cooperation and contribute to economic and social development.”
Image via Shutterstock
Join our Telegram group