The world food programme of the UN saves thousands of dollars thanks to the technology BlockChain

The world food programme of the UN has chosen to rely on the technology BlockChain in order to reduce the amount of banking costs inherent in the traditional banking system.

An economy of several hundreds of thousands of dollars

For more than a year, the world food programme, WFP, has set up the experience of the Building Blocks. It was in a first time to transfer funds to poor families in pakistan. However, these funds are transferred on a BlockChain Ethereum using a mobile application. The program had been explained in the January, 2017 : “The technology of BlockChain, the most known to be associated with the crypto-currency Bitcoin, offers unique opportunities for humanitarian agencies, and can help them to deliver around the world the best possible assistance to frail people. “

Logo WFP Un / The program has selected the technology BlockChain to save on bank fees

The initiative has grown, and the payment platform was then offered the opportunity to help the refugees of the camp of Azraq, in Syria. The system has proved to be particularly interesting, allowing to save $ 150 000 per month. How ? Simply by reducing 98% of the transaction fees !

An initiative original and modern

More of cash, cheque or credit card. The refugees who benefit from this program do not need to share sensitive data and may have a total transparency. The WFP, the UN helped to feed 100 million people in 80 countries, which is a great success. Success due in large part to the platform Ethereum, which has helped save hundreds of thousands of dollars in bank fees.

Pixabay – basker-dandaphani / Several thousands of dollars are saved every month thanks to the technology BlockChain.

Robert Opp, director of innovation for the WFP, said: “We were convinced that we could replace the services offered by the banks with the BlockChain. This technology allows fostering collaboration, providing masses of data very important. “

The WFP has therefore made a nice bet that pays. Other humanitarian programs rely now on the BlockChain, like for example of a Million Meals, which distributes school meals in India.

Source : NCC