The IOTA Foundation and the United Nations Office for Project Services partner to use blockchain technology for more transparency.
UNOPS’s technical advisory and cryptocurrency startup IOTA have announced a partnership that will make more efficient UNOPS operations through open-source distributed ledger and Tangle technology.
“We 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.”
Stated Yoshiyuki Yamamoto, UNOPS Special Advisor on Blockchain Technology. As a global organization empowering the UN’s humanitarian projects, UNOPS adheres to strict accountability standards, which IOTA’s transparent ledger can complement. UNOPS delivered $1.8 billion in projects in 2017 and operates in 80 countries. An essential part of UNOPS’s interest in IOTA, is the open technology that drives the blockchain which eases communications and supply chain bottlenecks. In addition, IOTA’s Internet of Things protocol will make business processes more efficient.
“Shared global problems require shared global solutions. With our open-source, permission-less innovation approach, IOTA’s distributed ledger technology lends itself uniquely to this kind of cooperative problem-solving.”
According to IOTA Co-Founder David Sønstebø.
IOTA implements Directed Acyclic Graphs (DAGs), also known as Tangle, which operate as a mesh network. The protocol is less resource-intensive and scales better than traditional protocols because it does not rely on every node having a full copy of the blockchain. Instead, the Tangle protocol offloads this work to the entire network of nodes which depend on each other to verify transactions. According to UNOPS
“The cooperation between both organizations will further extend to training workshops, thought leadership seminars, and the development of specific proof-of-concepts to bring greater efficiencies to specific areas of UNOPS work.”
by Samuel Larreal