- United Nations updated its pension system using blockchain technology for identity verification.
- A recent white paper found blockchain to be highly effective in improving security, efficiency, and transparency in identity management.
- The change replaced a 70-year-old, paper-based process for verifying over 70,000 pension beneficiaries across 190 countries.
- The new system reduced processing times and tackled fraud and error risks previously caused by centralized, manual checks.
- The UN now plans to expand the blockchain-based system internally and share it with other international organizations.
The United Nations has implemented blockchain technology to modernize its pension fund’s identity verification system. The updated process aims to increase security and efficiency for the United Nations Joint Staff Pension Fund (UNJSPF), which serves beneficiaries in nearly 200 countries.
A white paper detailing the digital overhaul stated that blockchain is the “ultimate technology for digital identity verification.” The document, available here, emphasized improvements in security, transparency, and the speed of verifying pension recipients.
Collaboration with the Hyperledger Foundation led to the creation of a blockchain-supported digital identification infrastructure. The UN previously relied on a paper-based system, which, according to the study, resulted in about 1,400 suspended payments each year due to errors or unverified accounts. The new digital certification, introduced in a 2020 pilot and fully implemented in 2021, now covers over 70,000 pension beneficiaries.
The study stated, “The shift away from physical documentation has substantially reduced processing times previously spent on receiving, opening, scanning, and archiving paper documents.” The report highlighted that blockchain’s distributed nature eliminates the risk of a single-point-of-failure, which is common in centralized, manual systems.
By allowing multiple entities to access and verify credentials using blockchain, the UN can avoid repetitive identity checks and reduce administrative burdens. The system’s open-access model is expected to make processes more robust and less prone to manipulation or fraud.
With its initial success, the UN is considering a wider rollout of this digital verification method both within its own agencies and for other international bodies. The system is being positioned as a “digital public good” to boost collaboration, security, and inclusiveness in global public infrastructure.
“The project has provided not only a technical prototype but also an operational model for how organizations across the UN family can collaborate to design secure, scalable, and inclusive digital public infrastructure,” wrote Sameer Chauhan, director of the United Nations International Computing Centre, in the white paper’s conclusion.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
Previous Articles:
- Pump Fun streamers stage fake jet crash as memecoin metrics plummet
- Record $18B Bitcoin Options Expiry Sparks Volatility Fears
- Malicious SVG Files Used in Phishing to Spread Crypto Malware
- Shiba Inu at $2? The Math Reveals an Impossible Crypto Dream
- Leaked Messages Spark Bitcoin Hard Fork Rumors, Dashjr Denies
