The United Nations Office for Project Services (UNOPS) and the IOTA Foundation have announced a partnership aimed at bringing transparency and efficiency to the work being done by the UN.
UNOPS acts as a technical advisor to the UN and helps it implement projects to provide peace and security around the world. IOTA’s distributed ledger will be used specifically to track UN documents and transactional payments in real-time and to improve the efficiency of supply chains.
UNOPS works closely with governments around the world as well as several international financial institutions, meaning the partnership, if executed correctly, could open the door to further opportunities down the line.
Opening the Door to Further Partnerships
IOTA Co-Founder Dominik Schiener said, “The IOTA Foundation is fully committed to putting the IOTA Tangle to work on behalf of important humanitarian and development causes.”
This is not the first time IOTA has worked with the UN. In November last year, IOTA co-sponsored a U.N. Climate Change Blockchain Hackathon. During the event, participants attempted to develop blockchain-based solutions to six prominent climate change challenges. Yesterday, The IOTA Foundation also announced that it will be sponsoring the Blockchain for Peace Innovation Alliance, a global initiative hoping to develop peacekeeping solutions based on blockchain technologies.
IOTA is aiming to become the distributed ledger that acts as the backbone for the IoT (Internet of Things). This latest partnership gives the IOTA Foundation a high-profile opportunity to prove the capability of its unique distributed ledger known as Tangle – “the next evolutionary step in Blockchain technology” according to the IOTA white-paper – which operates through a system of more localised and autonomous nodes in comparison to a more traditional blockchain.
