The United Nations High Commissioner for Refugees (UNHCR) is leveraging the power of blockchain technology and zero-knowledge proofs to enhance its mission around the world. By embracing this innovative technology, the UNHCR aims to streamline its aid delivery while ensuring the security and privacy of sensitive data pertaining to over 114 million refugees.
During a panel discussion held in Switzerland as part of the Decentral House event, UNHCR Treasurer Carmen Hett highlighted the unique advantages of blockchain technology for the organization. The event brought together experts from various organizations, including Cardano, the United Nations, and the World Trade Organization, to discuss the latest developments in the blockchain ecosystem.
The UNHCR has been actively exploring the potential of blockchain technology for almost a year now. In December 2022, the organization announced the launch of its first blockchain-based payment solution, which initially faced skepticism. However, the success of the first implementation quickly won over skeptics and solidified the value of blockchain technology for the UNHCR.
One way in which the UNHCR is utilizing blockchain technology is by implementing Cardano-based solutions to crowdfund and distribute aid to millions of refugees worldwide. Digital wallets facilitate easy donation and aid distribution, ensuring that both donors and refugees can contribute and receive assistance regardless of their geographical location. With a decentralized ledger providing transparency, the UNHCR can maintain accountability at all times.
Additionally, the UNHCR’s program contributes to digital literacy and enables refugees to have more control over their own finances. Although there were initial concerns about the technical complexity of blockchain-based solutions, the benefits of the new system outweighed the challenges. As the UNHCR expands and scales up its program, other agencies may be encouraged to follow suit and implement similar blockchain solutions.
Innovatively, the UNHCR has launched a staking pool called “Blockchain for Refugees” to facilitate blockchain fundraising. Unlike traditional staking pools, all rewards generated from stake delegation in this pool go directly to the UNHCR. By allowing ADA holders (Cardano’s coin) to passively support the organization’s mission while also contributing to the network’s efficiency and security, this approach presents a novel way for individuals to make a tangible difference.
Finally, Cardano’s digital IDs and payment capabilities provide an added layer of security for refugee data. The UNHCR is actively exploring technologies like zero-knowledge proofs to ensure the safety and privacy of refugee identities.
With the UNHCR and Cardano leading the way, blockchain technology has the potential to revolutionize aid delivery and empower refugees worldwide. As other humanitarian groups witness the success of this collaboration, we may see increased adoption of blockchain and cryptocurrency in the charitable sector.
The source of the article is from the blog myshopsguide.com