UN and Dfinity Foundation launch digital credential pilot project in Cambodia

United Nations Development Programme (UNDP) is partnering with the Dfinity Foundation to launch a pilot project for Universal Trusted Credentials (UTC) based on blockchain in Cambodia. Internet Computer will provide secure management infrastructure, and the Monetary Authority of Singapore and other institutions are also involved. The project aims to encourage micro, small and medium-sized enterprises to participate in the digital economy and is planned to be promoted in ten countries eventually. Dominic Williams, founder of the Dfinity Foundation, said that UTC will bring transparency and inclusiveness to the financial system. Previously, the Monetary Authority of Singapore and the Bank of Ghana had completed a proof of concept using UTC. Cambodia has good conditions for digital asset regulation and central bank digital currency, and has cooperated with the Binance and Alipay networks. This pilot project will provide a decentralized and secure digital ecosystem for governments and enterprises.