A UN Agency is Exploring Blockchain's Impact on Trade
A UN agency is putting together two white papers focused on how blockchain tech can facilitate trade and business processes.
A UN agency dedicated to facilitating international and national trade is putting together a pair of white papers centered on blockchain technology.
A project proposal detailing the work was published yesterday by the UN Centre for Trade Facilitation and Electronic Business (CEFACT), a subsidiary of the Economic Commission for Europe.
The organization is developing the two white papers – one focused on technical matters and the other on business cases – as well as a half-day workshop, tentatively scheduled for sometime this autumn.
The project was officially approved on 20th April, with CEFACT noting in the proposal:
This is the latest blockchain development out of the UN, which has seen a number of its agencies pursue activities around the tech in recent weeks and months.
Perhaps most notably, the World Food Programme (WFP) began a large-scale aid distribution trial based in Jordan this week, one that leverages the ethereum blockchain to process transactions.
The trial began with an initial focus group of 10,000, but the agency said it could see expansion in the months ahead to include all refugees in the country.
UN headquarters image via Shutterstock
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.