The United Nations Development Programme (UNDP) has reached a partnership with the DFINITY Foundation

ChainCatcher news, according to financefeeds, the United Nations Development Programme (UNDP) is collaborating with the DFINITY Foundation to enhance the Universal Trusted Credentials (UTC) program using Internet Computer blockchain technology. This collaboration aims to improve digital trust and financial inclusion for micro, small, and medium enterprises (MSMEs) globally.

It is reported that the UTC framework was jointly launched by the Monetary Authority of Singapore (MAS) and other strategic partners, aiming to enhance the opportunities for MSMEs to access financing domestically and across borders by fostering trust in digital data. By promoting the adoption of blockchain-based solutions, the UTC program aims to create a sustainable financial ecosystem that empowers MSMEs.

The DFINITY Foundation will leverage its expertise in decentralized computing and digital identity solutions to develop and test prototypes for the UTC pilot program in Cambodia. The Internet Identity (II) solution of the Internet Computer blockchain will ensure the secure storage and management of digital credentials, thereby enhancing the credibility of the UTC system.