United Nations: Pension pilot project confirms blockchain as the "ultimate" identity verification technology
ChainCatcher news, according to CoinDesk, a recent white paper released by the United Nations shows that it has successfully reformed its pension system by adopting blockchain technology, praising this innovation as the "ultimate technology for digital identity verification." This technology was piloted in cooperation with the United Nations Joint Staff Pension Fund (UNJSPF) and the Hyperledger Foundation, aiming to use blockchain digital identity infrastructure to enhance the security, efficiency, and transparency of global pension processes.
Previously, the United Nations pension system relied on a paper-based operation with a 70-year history to verify the identity and survival status of more than 70,000 beneficiaries in 190 countries. This system was prone to errors and subject to abuse risks, resulting in about 1,400 payments being suspended each year. Since the pilot in 2020 and the official implementation of blockchain digital certification in 2021, the United Nations has significantly improved its management processes. Based on the successful experience of the pilot, the United Nations is planning to expand this system and share it with other international organizations.
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