The UN (United Nations) secretary-general, Mr. Antonio Guterres appeared to be constructive on budding technology, he says the intergovernmental organization must embrace the blockchain technology going forward, Forbes reports.

In a statement provided to Forbes by the secretary-general’s office, while highlighting some key statistics of the emerging technology has pioneered through cryptocurrency concept, namely, ‘bitcoin’ as a crucial element of the organization’s agency that introduced and managed to generate $50 billion in revenue annually. He has also pointed out the Chinese prominence for the blockchain technological deployment as their President commented constructively on the same.

In the recent past, Xi Jinping called for China to boost its adoption of blockchain, and to increase its use within China’s government, industry, and technology sectors. Consequently, the statement seemed to have stimulated the constructive speculation amongst crypto market participants and there has been hush-hush that quite a few analysts are even suggesting the Chinese government is planning to accumulate Bitcoin, and others expecting a wave of new investment into Chinese blockchain companies.

In addition, he has reported that the $6 billion United Nations Children’s Fund has started accepting bitcoin and ethereum donations for some of its projects, the statement from Guterres shows that cryptocurrency and the underlying blockchain technology is being seriously explored at the highest levels of the largest organizations in the world.

Thereby, Mr. Guterres recommends that blockchain/DLT be among the core technologies used by the UN.

As per the United Nations budget, aiming on the strategic priorities, reforms, Sustainable Development Goals (SDGs) and other technical projects, the organization proposed about $2.87 billion for 2020, out of which they set aside an additional $3.3 million, which is about 10% increase over last year.