The United Nations exploring blockchain technology is a step in the right direction.
On Thursday, the world was informed that a cryptocurrency wallet startup, ‘Blockchain’, has partnered with the United Nations to look into the various applications of blockchain technology. More specifically, the U.K.-based startup and the United Nations will be looking into using blockchain for areas such as natural resource conservation and protecting democratic systems.
The crypto wallet startup will be working with volunteers from the UN Development Program, the World Economic Forum, and the UN Refugee Agency. It’s not a total surprise the United Nations is interested in the applications of blockchain. After all, the question of whether or not blockchain can be an avenue for addressing some of the areas in the United Nations’ Sustainable Development Agenda has been a frequent topic of discussion.
More specifically, in 2016, at a New York UN meeting about sustainable development, members discussed the potential blockchain has to achieve various sustainable development goals.
Blockchain has become extremely popular over the past year and a half. Its essentially the brains behind virtual currency bitcoin – and we all know how much people love bitcoin. It is for these reasons I’m not surprised to see an interest in blockchain spark in the world. According to vice chairman of the commission, Fernandez de Cordova, “the future is now,” and I couldn’t agree more.
I’m not alone either – there is a number of countries and central banks pivoting into the blockchain sector. In fact, earlier this week, Taiwan’s central bank stated that it is going to commence exploring blockchain more closely. The governor of the central bank said blockchain technology has the power to change and advance financial systems.
>> More Banks Looking into Blockchain
Meanwhile, the currency that blockchain powers is not doing as well with world leaders as the technology itself is. What does that mean? Well, let’s just say a number of countries have called for cryptocurrency regulation to be discussed at the upcoming G20 Summit.
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Molly Jane is a Russian Literature major from California with a background in writing. She joins CurrencyTimes after working as a freelance journalist and blogger.