Humanitarian Aid count with Bitcoin and Ether
The trial evaluation, which will begin in Jordan on May 1, will allow WFP to send an unspecified number of dinars to more than 10,000 beneficiaries in need of financial support and additional food, with the aim of expanding the number of beneficiaries to 500,000.
It is noteworthy that the UN World Food Program (WFP), after successfully using the block chain to transmit Pakistani rupees to 100 people earlier this year, is preparing greater security to ensure Next stage of their work.
So in this way, the United Nations (UN) is in the final stages of what could be one of the most epic block block projects of all time. The technology being developed is part of an even greater effort to make UN services so resilient that they can survive even the destruction of the UN itself.
The first successful test of the bitcoin-based solution was carried out in January in Sind province, Pakistan. There, 100 people received 3,000 rupees and the equivalent value in food through authenticated transactions.
According to WFP financial officer Houman Haddad, the secret of such a design could be to eliminate the rupee altogether as a means of distributing funds, along with any other currency issued by the state.
According to Haddad, he commented, “At this time we are paying in regular currency so-called fiduciary currencies, which also works with WFP’s treasury and financial risk management divisions.” That’s mainly because many of the places we work Accept bitcoin and ether”.
He also pointed out, “However, ideally if they do, then we could simply transfer the cryptocurrences and eliminate the subsequent payment”.
However, proof of concept is the latest effort, created over a 40-day period, designed to show that a chain of blocks could be used to distribute humanitarian aid to those in need.
Once the project was implemented, beneficiaries were randomly assigned passwords once displayed on their mobile devices, which were then shown to supermarket owners who helped to disperse both funds and food. At the end of the one month trial, the transaction records were reconciled with the actual distributed funds.
According to Haddad, “The cost will be lower because there will be fewer transactions, no administration fees and all that,” as I said, “The risk will be less because we do not have to advance money to anyone because we would only pay for the actual purchases”.
With this procedure the idea of cutting the middleman is put in evidence. Instead of paying the funds directly to the recipients, the UN sends the money to the stores, cutting off both the banks and the actual recipients.
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