The United Nations World Food Programme (WFP) revealed earlier this month that it is testing blockchain potential to transform the fight against hunger.
"Blockchain technology, most famously associated with the crypto-currency Bitcoin, offers unique opportunities for humanitarian agencies to provide the best-possible assistance to vulnerable people around the world”, the WFP said.
In a blog post, the WFP said that its Innovation Accelerator is exploring approaches to delivering cash-based transfers in order to reduce costs and risks, while improving data protection and speeding up delivery. To that end, it said that the first, successful test at field level of its blockchain innovation — called ‘Building Blocks’ — was carried out in January in the Sindh province, Pakistan.
“As vulnerable families received WFP food and cash assistance, the transactions were authenticated and recorded on a public blockchain through a smartphone interface. Transaction reports generated were then used to match the disbursements with entitlements”, the WFP explained.
The WFP is closely monitoring the scope of blockchain technology for applications beyond cash-based transfers, identity management, and supply chain operations. It said that the lessons learnt from the first phase in Pakistan would be used to move towards a “full-scale pilot”.
"Blockchain can revolutionize the way WFP delivers assistance to vulnerable families across the globe. It can bring us closer to the people we serve and allow us to respond much faster," Farman Ali, a regional official for the WFP, said.


Wizards of the Coast Balances High-Level Play in Final 5th Edition Dungeons & Dragons Campaign
Standard Chartered Joins China's Digital Yuan Trials, Eyes Cross-Border Payments
Visa Expands Digital Wallet Capabilities with Visa Commercial Pay
Mastercard Partners with Reserve Bank of Australia for Groundbreaking CBDC-NFT Trial
Indian Banks Disburse Employee Benefits Through Digital Rupee, Boosting RBI's Target Transactions
Kraken's Jesse Powell Criticizes SEC Over Legal Action
Intel Secures $8.5 Billion in New Funding Amidst Strategic Revamp and Government Support
Robinhood Launches Credit Card for Gold Customers
BlackRock Seeks FDIC Oversight Deadline Extension to March
PayPal Unveils Direct Crypto to US Dollars Conversion; MetaMask Integration Goes Live
Crypto Investment Platforms eToro and M2 Granted Approvals to Operate in the UAE
JPMorgan, Citibank Korea Face FTC Penalties Over Collusion; Supreme Court Upholds Ruling
PayPal Shares Climb 7% Amid Strong Profit Forecast, SEC Scrutiny
South Korea to End Short-Selling Ban as Financial Market Uncertainty Persists
Citi Unveils Blockchain Platform 'Citi Token Services' for Enhanced Digital Asset Interaction
Mastercard's Shopping Muse: A New Era in AI-Driven E-commerce Personalization
Robinhood CEO Vlad Tenev: Blockchain Can Open Private Markets to Retail Investors




