Hassan Maishera
The Algorand team announced via X on Thursday that the Algorand Foundation is a founding member of the United Nations Development Programme Blockchain Advisory Group.
This group is made up of 26 organisations from across the blockchain ecosystem, including the Ethereum Foundation, Stellar Development Foundation, Cardano Foundation, and others.
The group will meet twice a year, each time with a different development theme. Chaired by UNDP Associate Administrator Haoliang Xu, the inaugural meeting focused on financial inclusion and digital finance as its first deep-dive theme.
Discussion centered on barriers to access, including fragmented payment systems, digital identity constraints, interoperability challenges, and institutional readiness, and how blockchain may complement existing infrastructure to expand access, improve efficiency, and strengthen transparency.
Algorand is an open-source, permissionless, Pure Proof-of-Stake (PPoS) blockchain protocol for “the next generation of financial products.” As such, Algorand ensures "full participation, protection, and speed within a truly decentralized network."
It is a self-sustaining, decentralized, blockchain-based network that supports a wide range of applications. These systems are secure, scalable and efficient, all critical properties for effective applications in the real world. Algorand will support computations that require reliable performance guarantees to create new forms of trust.
The Algorand mainnet went live in June 2019 and was able to handle almost 1 million transactions per day as of December 2020. Algorand's initial coin offering (ICO) was held in June 2019, with the Algorand price of $0.24 per token.
ALGO is trading at $0.09436 at press time, down 10% in the last 24 hours.
