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WOW: The UN Wants to Adopt Bitcoin And Ethereum – And Soon

[Ed. Note: As I mentioned to Mike Maloney in my soon-to-be-released interview with him, this story makes me wonder if the rise of crypto-currencies is all part of a bigger agenda to get even the most informed among us, to accept our digital currency future.]

by Michael del Castillo, Coindesk:

The United Nations (UN) is in the final stages of what could be one of the most epic blockchain projects of all time.

After successfully using the ethereum blockchain to transmit Pakistani rupees to 100 people earlier this year, the UN’s World Food Program (WFP) is arranging extra security to ensure it safely executes the next stage of its work.

A pilot test, scheduled to begin in Jordan on 1st May, will see the WFP sending an unspecified number of dinars to more than 10,000 recipients in need of financial support and extra food, with the goal of expanding the number of recipients to 500,000 people by 2018.

To protect the privacy of the recipients, the exact amount to be dispersed is not being revealed. But the technology being developed is part of an even bigger push to make the UN’s services so resilient that they could survive even the destruction of the UN itself.

The secret to such a design, according to WFP financial officer Houman Haddad, could be to remove the rupee altogether as a means of distributing funds – along with any other state-issued currency.

“At the moment we’re paying out in normal currencies, so-called fiat currencies,” said Haddad, who also works with both the WFP’s treasury and financial risk management divisions. “That is mainly because a lot of the places in which we work don’t accept either bitcoin or ether.”

He told CoinDesk:

“However, the ideal would be that if they do, then we could just transfer the cryptocurrencies. It gets rid of the post-payment altogether.”

Called ‘Building Blocks’, the first successful test of the ethereum-based solution was conducted in January in the Sindh province of Pakistan. There, 100 people received 3,000 rupees and the equivalent value in food via transactions authenticated on the ethereum testnet.

The trial

Created over a 40-day period, the proof-of-concept is the latest effort designed to show that a blockchain could be used to distribute humanitarian aid to those in need.

Beneficiaries of the project were assigned random one-time passwords that displayed on their mobile devices, which were then shown to supermarket proprietors who helped disperse both the funds and food.

At the end of the test, the transaction records on the public ethereum testnet were reconciled with the actual funds distributed.

The procedure flips on its head the idea of cutting out the middleman.

Instead of paying the funds directly to the recipients, the UN sends the money to the shops, cutting out both banks and even the actual recipients.

In one example cited by Haddad, money meant for 100,000 beneficiaries could instead be paid directly to the 400 merchants that might be available in that area.

“The cost will be lower because there will be fewer transactions, no admin fees and all of that,” said Haddad. “The risk will be lower because we don’t have to advance money to anyone because we would only pay for actual purchases.”

A second pilot planned for August will see the test expand beyond the borders of Jordan to other nations, with the possibility of reaching tens of millions of recipients served by the WFP in the future.

Cryptocurrency transfers

Yet, both the proof-of-concept and upcoming pilot are part of a larger push within the UN to rethink what the organization calls cash-based transfers (CBT).

Instead of turning over perishable resources such as food and medicine, the UN directly injects money into the local economy in the form of vouchers, prepaid cards, mobile money and more.

In 2015, the program transferred $680m in aid to recipients, a number Haddad said the WFP hopes to increase to $2bn per year. In the first six years of the program, 9.6 million people were given assistance through cash-based transfers.

Though the advantages of CBT include increased efficiency and stimulated trade, there’s still plenty room to improve, according to Haddad.

Read More @ Coindesk.com

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12 comments to WOW: The UN Wants to Adopt Bitcoin And Ethereum – And Soon

  • Craig Escaped Detroit

    Spooky yet very useful.
    Perhaps the UN adopting BTC & Ether will be the big push that may propel crypto’s thru the roof (as Clif High’s webbot reports says is gonna happen.)

    I noticed that the UN is NOT using the very popular PRIVATE, (non traceable) cyrpto such as MONERO, or even “DASH”, etc.

    With this bit of the U.N. news, it’s a sign (for me) that BTC & Ether are more likely to gain widespread acceptance in the “official” systems. (Monero is likely to become popular with everybody who wants to remain anonymous.) Dash has problems that should keep it from becoming too popular with the well-informed crypto crowd.

    • thinking outside the matrix

      People are still so Naive to believe Bitcoin was created by someone named Satoshi Nakamoto trying to help humanity. I blew this story wide open a few years ago. People can’t seem to put two and two to together for some reason. I believe it’s bc that need to believe that something will save them in times of crisis. The Elite have been slowly herding us into Cryptocurrency by shutting all other avenues of safety by creating capital controls and manipulating the precious metals markets. If Bitcoin was the real deal the government would have already attempted to shut it down by several methods of which they have seem to be ignoring all together. For example the exchanges, you could shut down the exchanges through money laundering laws or any other hundred laws they can come up with, Bitcoin is done. If they prohibit merchants from using it, Bitcoin is done. If they go in and start pumping and dumping it causing extreme fluctuations in the market, Bitcoin is done. If they decide to tax the hell out of it, Bitcoin is done as a currency. These are just a few things I just thought of off the top of my head. I can think of several other ways to totally destroy confidence in Bitcoin or cryptocurrenies in general. Do the bankers know this stuff, yes. Do governments know this stuff, yes. Why haven’t they attempted to do anything about it? Bc they created it. The old system is crumbling on purpose so people will be more than willing to join the new system as the old system falls apart. I’ve been saying this for awhile bc I knew the players involved in making sure Bitcoin succeed. Examples: Blyth Masters and her Ex husband Daniel Masters are definitely financial insiders. They both left Wall-street as very powerful people a few years ago, before the price skyrocketed, to pursue digital assets such as the Blockchain and Bitcoin. Why would they do that? If Bitcoin is supposedly competing with the Banking industry and the US dollar as a world currency. This would seem to go against their interest. Does not make sense unless they were instructed to do this. I could list many more so called financial insiders that have heavily gained and manipulated the old system that are all of sudden jumping on board the digital currency bandwagon. What do they know that you don’t know? Did you know Newt Gingrich bought Bitcoins a few years ago as part of his portfolio. Yep, herd myself on a financial podcast. Did you know Rick Perry while he was running for president was asking for Bitcoin for his campaign contributions. Both these guys are CFR globalist. They are the ultimate insiders. Knowing this and so much more I decided to put a small fortune into Bitcoin a few years ago bc I knew it was a slam dunk. So far I’ve been right and I’ve made enough to possibly retire if I decide to cash out and move to real estate for Cash flow. I’m only saying this so you can understand that eventually they way you see digital currency now will not be the way in which it will be used in the future. People really think that they will be use crypto to hide from the government when in actuality the Elite will be creating a system in which the only way you can either exchange your crypto will only be by using your Biometrics, which will some how possible lead to some sort of Beast system. Not sure exactly how but I’m pretty sure it will be by some form of micro-chipping. So be very aware and alert to new changes in crypto. The way you see digital currency will rapidly change. I can’t for the life of me can’t figure out why more people can’t figure this stuff out. Looks very obvious…

    • thinking outside the matrix

    • thinking outside the matrix

    • thinking outside the matrix

  • MARCS

    INJECTION….. WHERE HAVE WE HEARD THAT BEFORE?

    SO DOES ALL THIS ‘INJECTION” DILUTE BIT-CON?

    HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAAHHA

    • thinking outside the matrix

      Sorry I’m a heavy investor in Bitcoin but I still acknowledge there are too many coincidence to believe Bitcoin is home grown and not created by the Bankers themselves. For goodness sake look at the article. The UN is a globalist organization created by the Bankers themselves. Why would they promote crypto if it goes against their interest. Please people out there wise up and take your damn blinders off. None of this makes logical sense so stop pretending that it does.

      • MARCS

        AGREE WITH YOUR SEVERAL THOUGHTS, AND WOULD ADD A MAJOR “STARE IN YOUR FACE” FACT OF BIT-CON.

        GOLD AND SILVER ARE THE ANTI-PLANTATION DOLLAR MECHANISM FOR THE SUPPOSED FREE MARKET.

        THERE IS A SOUND BASIS FOR HAVING AN ANTI-DOLLAR, IT IS FINANCIAL AND WEALTH PROTECTION AGAINST THE BANKSTER & GUVMINT THEFT OF A PERSON’S LABOR AND WEALTH BUILDING.

        NOW, GETTING TO THE POINT HERE…..
        WHEN BIT-CON ROSE SO QUICKLY THIS YEAR, IT HAD NO IMPACT ON THE DOLLAR, WHY NOT?

        THE ANSWER IS:
        IT DOES NOT COMPETE WITH THE DOLLAR, BUT IS TRANSFORMING INTO THE DOLLAR DIGITAL CURRENCY, AS YOUR ANALYSIS ALSO SHOWS, BUT A DIFFERENT ANGLE.

        WHEN GOLD AND SILVER RISE, EVERYONE IN THE FINANCIAL INDUSTRY AND ON TV VOMIT THEIR GOLD AND SILVER TERRORISM THOUGHTS, GOLD AND SILVER IS SHORTLY SMASHED DOWN, WHY?
        BECAUSE GOLD AND SILVER IS THE ANTI-DOLLAR.

        THERE IS NO SAFETY IN BIT-CON WHEN BANSTERS.GOV ARE INVOLVED.

  • willygroper

    “makes me wonder if the rise of crypto-currencies is all part of a bigger agenda to get even the most informed among us, to accept our digital currency future.]”

    ya think? never went for it even though many smart folks have.

    they always tempt you with the forbidden fruit.

    out of tptb control…really?

  • oneno

    How is it possible to send 100 Pakistani dinnars when the receiver is unlikely to be able to afford a device to receive the payment and then actually use the payment?

    Doesn’t make sense.

    • MarcS

      That’s an easy question,

      the pakistan central banksters will “inject” the cost of these devices into each persons “digital account”.
      Injection is a wonderful thing, just ask a bankster.gov

      Then the labor theft can continue in earnest….whoa!!!

  • videoctr

    The UN likes the Ethereum blockchain, why? Simply because the middleman is cut out of the loop. And there are 50 million people in the United States on EBT Cards. And you know there is talk now about universal basic income.

    The UN can control where the money goes, and who gets it by also using iris scanning technology on the refugee community.
    This is the big beta test for what may be going global.

    This is noted to be a test. The United States interested in refugee cities “over there” and in the United States if the deep state has their way.

    Ethereum, the decentralized system on the web, can cut out the middleman and avoid fraud. Thus accurately connecting the vendor with the authorized customer and saving money avoiding bank transaction fees. I think the US government will push for blockchain systems to cut out the big money banks like JP Morgan. See the following.

    http://prospect.org/article/how-big-banks-are-cashing-food-stamps
    “Distributing government benefits is a lucrative industry. According to the Government Accountability Institute, J.P. Morgan Chase, which currently controls EBT contracts in 21 states, Guam, and the Virgin Islands, made more than half a billion dollars between 2004 and 2012 providing government benefits to U.S. citizens.

    “What else might be coming down the pike?
    How about the idea that is being discussed now for a universal basic income. I believe Ethereum blockchain can be implemented to to serve as the backbone for this as well. Saving huge sums in the transaction costs. 50 million people are currently using EBT cards in America.”

    In summary, I believe the motivation for blockchain systems will eliminate fraud and save billions in transaction fees for governments. This could be what digital currency will look like in the future. This is what the beast-control grid will also look like. It can be very seductive and suck us all in.

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