Blockchain Network IOTA Collaborates With United Nations Projects Division

Announcements, Blockchain | May 24, 2018 By:

The United Nations Office for Project Services (UNOPS) has signed a memorandum of understanding (MoU) with blockchain network IOTA to explore how IOTA’s technology can increase the efficiency of its operations.

The UNOPS helps the United Nations (UN) and its partners provide peace and security, humanitarian and development solutions. Its mission is to help people build better lives and countries achieve peace and sustainable development. Their services cover infrastructure, project management, procurement, financial management and human resources.

Launched in 2015, IOTA is a quantum-resistant distributed ledger protocol, focused on being useful for the emerging m2m economy of Internet-of-Things (IoT), data integrity, micro-/nano- payments, and anywhere else a scalable decentralized system is warranted. IOTA offers zero fees, no scaling limitations, and decentralized consensus where users are also validators.

Under the MoU, the UNOPS will utilize IOTA’s blockkchain technology to provide a greater level of efficiency in the management and tracking of UN documents, supply chains and transactional payments in real-time. The partnership will be further extended to seminars, workshops, and the development of specific proof-of-concepts (POC) to bring greater efficiencies to specific areas of UNOPS work.

Yoshiyuki Yamamoto, UNOPS Special Advisor on Blockchain Technology, said that both companies share a vision where machines, devices, sensors and people connect and communicate to each other – it’s the world of “Industry 4.0.”

“Harnessing technology that allows for these processes to work simultaneously, without the need for intermediaries, will help expedite our mission as an organization,” Yamamoto said.

IOTA Co-Founder David Sønstebø said that shared global problems require shared global solutions. He said with their open-source, permission-less innovation approach, IOTA’s distributed ledger technology lends itself uniquely to this kind of cooperative problem-solving.