The United Nations (UN) end of the year he cited cryptocurrencies, in particular Bitcoin by name, as "new frontier"Which has the ability to radically change financial systems around the world.
The year-end report is an annual document published by the United Nations that outlines the issues facing the world and the remedies that can be used to counteract the affects.
The report suggested the development of a new token using technology called ClimateCoin. The currency will be used as a solution to have peer-to-peer carbon credit exchanges. Carbon credit is a term used for a tradable certificate, which allows countries to use it as credit if they maintain their carbon footprint below the established limit. With the blockchain offering a direct, cheaper and faster way to use carbon credit, technology is seen by the humanitarian organization that has the potential to help resolve the debate on how carbon credit works forever.
"Cryptocurrencies represent a new frontier of digital finance and their popularity is growing. The decentralized networks for cryptocurrencies, Bitcoin is a well-known example …"The report said.
The UN has shown great interest in the blockchain, with technology offering a series of solutions to the main problems that the organization is fighting. In December of last year, it announced the support of 6 different blockchain start-ups to "solve global challenges using blockchain technology".
The organization exposes start-ups to its global network or professionals, from finance to technical advice, allowing them to quickly follow their development and deliver their prototypes within the year. Start-ups include ideas for monitoring finances, electronic patient records, social collaboration and even a supply chain platform for vaccine monitoring and delivery.