The UNDP has partnered with the DFINITY Foundation to leverage Internet Computer blockchain technology for the Universal Trusted Credentials (UTC) initiative.

This partnership aims to enhance financial inclusion and digital trust for Micro, Small, and Medium Enterprises (MSMEs) worldwide.

The UTC framework, developed with the Monetary Authority of Singapore, will improve domestic and cross-border trade financing for MSMEs by ensuring secure, reliable digital credentials.

The pilot initiative in Cambodia will test this blockchain-based solution, with plans to expand to 10 countries.

Marcos Neto of UNDP emphasised the project's potential for sustainable development and economic growth.

Dominic Williams of DFINITY highlighted the initiative's ability to bring transparency and inclusion to the financial system using cutting-edge technology.