United Nations Secretary-General António Guterres touted blockchain as an essential tool for the future of the organization that generates $50 billion in annual revenue. The UN hopes to use blockchain technology to be more transparent with donors about how its money is spent and reduce waste in its supply chain.
“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,” Guterres said in a statement provided exclusively to Forbes.
One example that the UN has already put into action: partnering with Mongolia and its farmers in a pilot project to export sustainable cashmere using an ethereum-based blockchain.