The World Food Program (WFP) is the latest entity to go digital when it comes to making use of blockchain technology to enable its programs and proces
The World Food Program (WFP) is the latest entity to go digital when it comes to making use of blockchain technology to enable its programs and processes across the globe. The food-assistance and humanitarian aid wing of the UN is using the Etherium blockchain to reach out to hungry and vulnerable people all over the world, and distribute monetary aid. This shows that this technology is capable of assisting humanitarian organizations to transfer badly-needed aid to needy families quickly and safely.
According to a press statement by Farman Ali, a WFP officer from the Karachi provincial office in Pakistan, the UN believes that blockchain technology has the power to completely transform how the WFP delivers aid to needy families worldwide by bringing the people running the programs closer to the people they serve and offering an opportunity for faster response.
Being the largest humanitarian organization on the planet, the WFP is currently undertaking a project that utilizes the Ethereum blockchain as it works towards revolutionizing the approach it uses in reaching out to the most vulnerable communities.
In addition to food distribution, the WFP has launched a monetary assistance program named building blocks, with its first test being conducted in Pakistan’s Sindh province. Here, the organization’s officers used the new technology to record and authenticate programs and transactions via a smartphone interface on a public blockchain. The reports generated here were used to match aid disbursements with entitlements.
In recent years, the number of cash transfers for the WFP has risen tremendously, thus making the process of delivering services to the poorest communities across the world both efficient and effective. However, this hasn’t come without risks and challenges.
But now by utilizing the blockchain, the WFP believes that delivering these much-needed supplies is going to be cheaper and less risky. Transparency and security will also improve since the organization can now track and verify how the funds it gives out are spent.
For the WFP, the blockchain comes as a revolutionary tool. It can be used to effectively and efficiently distribute funds even to the remotest of places when disaster strikes. As this technology gains more acceptance across various sectors, more firms and organizations are realizing its immense power in reaching out to the most disadvantaged peoples; those that need aid with daily living.