Blockchain technology has become a roaring success in the field of cryptocurrencies. The growing popularity of cryptos around the world is a testimony to the fact that blockchain is highly reliable, efficient, and secure. Now, many are exploring ways to implement this technology in other fields too. This is the reason the UNDP wants to create a blockchain academy.
The UNDP has collaborated with the Algorand Foundation to build a blockchain academy. They will launch in 2024 and will train UN staff about it. The UNDP staff capacity and training in blockchain will be helpful for sustainable development. The syllabus will consist of interactive workshops, recorded lectures, and assignments. The academy wants to make the study material available in over 170 countries. These are some of the focus areas of the academy for training their staff.
The transparency levels of the supply chain need to be improved. It may help in sustainable sourcing and fight issues like child labor.
There is a need to explore the use of blockchain to extend financial services to marginalized communities. Thus, these communities are still deprived of sufficient financial resources. Hence, it is essential to include marginalized people and alleviate poverty.
Blockchain Academy will also develop a secured global digital identity. It may help in better financial and social inclusion.
Blockchain can increase accessibility with the help of asset tokenization. It can enable partial ownership for many investors.
The UNDP and Algorand emphasize strongly on sustainable development. This is why they want blockchain to play a key role in delivering practical solutions to the challenges of sustainable development. Therefore, technology can contribute to achieving certain goals such as reduced inequalities, gender equality, decent work, reduced inequalities, economic growth, poverty elimination, peace, and justice. Currently, these are some applications of the technology that can achieve sustainable development.
Blockchain has the potential to reduce water and land pollutants since it can track both recycling and waste disposal activities. Hence, the tracking feature can be of immense help in more efficient waste disposal. Therefore, it can be an effective tool to fight environmental pollution.
Smart cities currently hold the key to sustainable development through better infrastructure. Thus, due to its robust features, the technology can also support waste management, and transportation and improve energy efficiency. Therefore, smart cities can save wastage and upgrade infrastructure.
The world is reeling under the rampant misuse and wastage of precious natural resources. Therefore, blockchain can partly improve the sustainability and traceability of these resources for extraction. Hence, when it comes to saving and better managing natural resources, few can parallel blockchain.
The United Nations focusing on establishing a blockchain academy is a positive development. Hence, it is a fact that UN staff training can increase the expertise and credibility of the blockchain ecosystem. Therefore, it can also help in upskilling, inspiring, and empowering UN practitioners. Moreover, the application of blockchain in achieving sustainable development goals can be helpful for humanity since it can minimize or solve many environmental challenges.