The United Nations has announced the integration of blockchain technology into its pension fund operations, as detailed in a recent white paper. This initiative aims to verify the identity and living status of over 70,000 pensioners across 190 countries, replacing traditional paper-based processes. Initially piloted in 2020 and fully deployed in 2021, the system was developed in collaboration with the UN International Computing Centre and the Hyperledger Foundation.
The report highlights that the blockchain-supported "digital rights certificates" have significantly improved processing efficiency and transparency. This advancement reduces human errors and payment disruptions while mitigating the risk of single points of failure inherent in centralized systems.
UN Pension Fund Adopts Blockchain for Identity Verification
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