A small African country, Sierra Leone has teamed up with the United Nations (UN) and a non-profit tech startup, Kiva to launch blockchain-based identification system in the country.
Sierra Leone, a small African country works together with the United Nations (UN) and Kiva, a non-profit tech startup on a blockchain-based identification system project in the country.
After considering 85 countries, Kiva selected Sierra Leone for the project’s first implementation due to the fact that only 20% of the country’s population is banked and it only has 1 credit bureau that covers 2,000 people, which is less than 1% of the country’s population.
According to Kiva's website, President Maada Bio welcomed the proposal enthusiastically as he expects the country to become less-dependent towards international aid and to advancing the country’s infrastructure through “visionary and innovative” solutions.
Expected to roll out in 2019, the blockchain-based Kiva protocol will allow Sierra Leoneans to securely keep and control their personal data, while also recording all their lending and repayment transactions.
Another use case is the information can serve as a valid credit score for the government or any other partners before commissioning loans.
The collaboration was announced on Thursday, September 27th at the 73rd Session of the UN General Assembly (UNGA) by the president of Sierra Leone, Julius Maada Bio.
Quoting the president, “The Government of Sierra Leone has signed a Memorandum of Understanding (MOU) with UNDP, UNCDF and Kiva on strengthening our National Digital Identification and Credit Reference Bureau process.”