Algorand surges following news of UN collaboration

Algorand (ALGO) will work with the United Nations Development Program (UNDP). The development aid organization, which fights global poverty, wants to train around 22,000 employees in web3 with the help of the Algorand Blockchain Academy.

The program helps countries achieve “sustainable development growth” through the use of decentralized databases. Employees from 170 different countries have access to Algorand Blockchain Academy training.

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Algorand Blockchain Academy for UN employees

A first version of the course on blockchain and others decentralized ledger technology (DLT) will launch in the first quarter of 2024. The program will teach employees how to handle financial inclusion and tokenization real assets (RWA) and digital identity applications.

According to UNDP’s Robert Pasicko, Algorand’s academy is crucial to equip the team with the right knowledge. At the Algorand Impact Summit in New Delhi, he said the following:

“The Algorand Blockchain Academy will be critical in equipping our team with the tools they need to address complex global challenges using blockchain technology. We look forward to educating and inspiring UN staff around the world.”

Doro Unger-Lee from the Algorand Foundation reported at the event that Web3 education is a “critical first step.” He emphasized that this training will help develop concrete applications of blockchain technology:

“We view this education and resource initiative as a critical first step toward identifying and deploying viable, practical applications of blockchain technology to achieve the Sustainable Development Goals in diverse areas.”

VN has been researching blockchain and crypto for years

The United Nations has been researching blockchain technology for years. The UN development agency partnered with the Blockchain Charity Foundation in 2018 to use ledger technology to promote social good.

Despite the UN’s positive stance towards the blockchain and crypto industry, the world organization has also come under criticism. A recent UN study on Bitcoin (BTC) mining was not well received as it was riddled with errors.

The ALGO price has been rising rapidly since Friday evening. Priced at $0.144, ALGO is up no less than 7.5% today.

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