Blockchain Image Verification Platform Truepic Partners With UN’s Capital Investment Agency

Announcements, Blockchain, News | June 28, 2018 By:

The United Nations Capital Development Fund (UNCDF) has partnered with photo verification platform Truepic to support its development projects in some of the world’s poorest and most remote regions.

UNCDF is the United Nation’s capital investment agency for the world’s 48 least developed countries (LDC). It creates new opportunities for poor people and their communities by increasing access to microfinance and investment capital. UNCDF focuses on Africa and the poorest countries of Asia, with a special commitment to countries emerging from conflict or crisis.

Founded in San Diego, CA, in 2016, Truepic is blockchain platform for businesses and consumers to verify an image’s authenticity. Truepic’s patented technology acts as a notary for digital photos, driving confidence among consumers and businesses that a shared photo has not been altered in any way.

The partnership will enable UNCDF to use Truepic’s photo verification technology to support its projects in least developed countries. By verifying images around the world in real time, UNCDF hopes to streamline and lower the monitoring, verification, and auditing costs of its projects. The ultimate goal is to meet the highest international standards of transparency and accountability of its projects.

UNCDF Executive Secretary Judith Karl said that Truepic offers a unique product that can verify the authenticity of images, which can act as a public good and have important development value for a range of applications.

“UNCDF uses multiples sources of evidence, including photos, to monitor, track, and document our development work in the world’s poorest countries,” Karl said. “We are excited to partner with Truepic to test its technology to support the transparency and accountability of our work in infrastructure development and financial inclusion.”

Craig Stack, Founder and COO of Truepic, said that digital image authentication can offer a critical cost savings, efficiency, and trust tool for a variety of industries, including international development.

“We are honored to partner with UNCDF and support its efforts to provide transformative instruments and financing to small businesses and communities in the world’s poorest countries,” Stack said.