Blockchain technology to accomplish Sustainable Development Goals

The United Nations (UN) has seen the Blockchain technology as one of the best allies it can find against middlemen and the corruption that can compromise achieving the Sustainable Development Goals

The blockchain is a swiftly sprouting area of IT with potential for huge benefits in terms of security, reliability and cost efficiency in the exchange of information.

Since most applications of blockchain technology aspire to provide transparency and indisputable records of transactions, it also has a great potential to eliminate corruption and poverty around the world. The United Nations (UN) has seen the Blockchain technology as one of the best allies it can find against middlemen and the corruption that can compromise achieving the Sustainable Development Goals (SDGs).

UNDP is partnering with Blockchain, the world's leading software platform for digital assets, the UN Refugee Agency (UNHCR) and the World Economic Forum (WEF) to explore the use of blockchain technology for development. They have mutually released a white paper titled "The Future is Decentralised."

Blockchain and UNDP offer potential solutions to a wide range of issues, including the conservation of natural resources, economic growth, and financial inclusion and security, for the benefit of humanity.

The Future is Decentralised provides an initial step in helping policymakers, regulators, and the UN Member States gain an understanding of blockchain technology. It presents an elegant framework for how transparency in government should evolve and how applications built on the blockchain can and will change the world as we know it," said Sergio Fernandez de Cordova, Vice-Chair of Blockchain Commission for Sustainable Development.

Blockchain will continue to work with international partners to survey the opportunity for both national and international institutions to defend the rights of those they represent, and to accelerate progress towards meeting the Sustainable Development Goals.

Present applications of blockchain technology for Sustainable Development

• SDG1: No Poverty

Alice, a tech startup in partnership with the UK-based charity St. Mungo, focused on creating better transparency for charity donations. By leveraging the security and trust of blockchain technology, it aims to increase public trust in charities.

• SDG2: Zero Hunger

Ambrosus, a Swiss-based startup is working on introducing blockchain technology to the food supply industry. It utilizes blockchain technology, high-tech sensors, and smart contracts to bring about an immutable record of the transactions taking place in the food industry.

• SDG 11: Sustainable Cities and Communities

City-wide pilot is a blockchain technology which is being applied at the city level in Dubai to facilitate city services. This would greatly reduce wasted time, effort and resources and could play a crucial role under SDG 11.

• SDG 15 – Life on Land

Programme for the Endorsement of Forestry Certification is utilizing blockchain technology at the rural level which is responsible for more than 300 million hectares of certified forests, has been investigating blockchain as an alternative solution for tracing provenance.

The United Nations Centre for Trade Facilitation and Electronic Business (UN/CEFACT), hosted by United Nations Economic Commission for Europe (UNECE), is working with a team of experts on the preparation of two white papers on blockchain technology for trade and economic development. The blockchain technology is emerging as a potential tool to accomplish such massive goals.