This Altcoin Claims to Have Signed a Deal with the United Nations – Price Volatility Spikes

The United Nations Development Program (UNDP) announced that it has partnered with the Algorand (ALGO) Foundation to launch a blockchain academy. The academy aims to provide UNDP staff with knowledge and insight into the applications of blockchain technology.

According to the official statement, the Algorand Blockchain Academy, which will be launched in 2024, is designed to strengthen UNDP staff capacity through education and training on blockchain technology and its practical applications for sustainable development. The curriculum will consist of recorded lectures, interactive workshops and hands-on assignments and will be available to more than 22,000 UNDP staff in more than 170 countries and territories, as well as staff at other UN agencies.

Following the development, there was a sudden jump and decline in the ALGO altcoin price. At the moment of writing this article, the ALGO price is still trading at a higher level than before the news:

Graph showing the jump in ALGO price following the news.

Robert Pasicko, UNDP's alternative finance and low-carbon development expert, said the Algorand Blockchain Academy will be instrumental in equipping its teams with the tools needed to address complex global challenges using blockchain technology.

The program will focus on areas such as financial inclusion, supply chain transparency, real-world asset tokenization and digital identity. Doro Unger-Lee, Head of Education and Inclusion at Algorand Foundation, expressed her joy about the partnership with UNDP to promote innovation and technology for the betterment of society.

The curriculum will also include experts from Algorand ecosystem projects such as HesabPay, Wholechain, Koibanx and Quantum Temple. The beta iteration will launch in the first quarter of 2024 and will continue to roll out throughout the year to reach global staff.

*This is not investment advice.