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UN To Help Introduce Blockchain For Data Identification In Sierra Leone

Published: 29/09/2018
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What is it for?

A blockchain-based ID platform will be developed under the aegis of the United Nations in the Republic of Sierra Leone, CoinDesk reports.

 

Within the framework of the U.N. General Assembly session, two UN entities, together with the Kiva startup and the head of state Julius Maada Bio, announced the launch of a project aimed at modernizing the credit bureau in this West African country.

 

According to the startup representatives, the choice was made in favour of Sierra Leone since there is a single credit bureau in the state that serves a total of two thousand people, which is less than one percent of the country's inhabitants. Moreover, banking services aren’t available up to 80% of residents.

 

As a result of the program implementation, one of the most modern and safe credit bureaus will be created in Sierra Leone. The country can become an example for all states of the world and completely change the attitude of citizens to the financial sphere, Xavier Michon, Deputy Executive Secretary of the United Nations Capital Development Fund (UNCDF), stated.

 

Through the project implementation, every citizen of Sierra Leone will be identified and will have access to his personal account in a digital wallet with a credit history. The Kiva protocol will provide an opportunity to control personal information and register all cash transactions in individual accounts on blockchain.

 

As previously reported, the entity for gender equality "UN-Women" applies blockchain technology for remittances to Syrian refugee camps located in Jordan.

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