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  • The UN had earlier called cryptocurrencies the “new frontier” in digital finance in their year-end report on the world economy.
  • Back in October, UNICEF began accepting Bitcoin and Ether donations to help disadvantaged children around the world

The United Nations must embrace the blockchain and distributed ledger technology, as per Secretary-General António Guterres. Guterres said:

For the United Nations to deliver better on our mandate in the digital age, we need to embrace technologies like blockchain that can help accelerate the achievement of Sustainable Development Goals.

The UN has usually been extremely bullish on the blockchain technology. They have been working with the World Identity Network to fight child trafficking by recording identities on the blockchain. Similarly, they have called cryptocurrencies the “new frontier” in digital finance in their year-end report on the world economy.

The decentralized networks for cryptocurrencies, bitcoin being a well-known example, can keep track of digital transactions. They enable value to be exchanged and can give rise to new business models which would otherwise require significant regulatory and institutional commitments.

Back in October, UNICEF began accepting Bitcoin and Ether donations to help disadvantaged children around the world, while United Nations Office for Project Services (UNOPS) revealed that they are working with IOTA to help manage their efficiently.