Jun 14, 2020 02:30 UTC
Jun 14, 2020 at 02:30 UTC
Bangladesh to Modernize Its Digital Pension System with IBM’s Blockchain Solution
IBM has reported an activity to fabricate distributed ledger technology based architecture to support the digital pension system for Bangladeshi primary school teachers.
The proof-of-concept comprises a permissioned system of teachers and different stakeholders powered by the IBM Blockchain Platform, with pension information uploaded to the blockchain to guarantee tamper-resistant record-keeping and offer security affirmations to teachers taking part in GBB’s e-pension system.
The pilot is being directed in partnership with the Bangladesh Computer Council, BCC, which is a government administering IT policy in the nation.
IBM’s blockchain platform is scheduled to have the live version of the digital pension infrastructure.
Bangladeshi Government Modernizes Pensions with Blockchain Tech
Parthapratim Deb, BCC’s executive director, said –
“We believe blockchain will increase confidence in the e-pension system by ensuring that payouts are based on accurate and authentic information.”
Deb predicted that the pilot will motivate further blockchain initiatives from the Bangladeshi government, expressing –
“Its success will likely encourage other agencies to explore applications for our core blockchain platform, furthering BCC’s mission of transforming governmental digital services.”
The pilot was proposed by developers speaking to the Bangladesh National Digital Architecture group with the BNDA having recently built an e-governance system to normalize the conveyance of digital services across Bangladeshi government agencies.
IBM Expands Blockchain Activities in Bangladesh
IBM has launched various blockchain initiatives in Bangladesh in the course of recent months, joining forces with both public as well as private entities to modernize many of the systems supporting the organization of Bangladeshi society.
In December, IBM worked together with local firm IPDC Finance Limited to launch the nation’s first DLT-based supply chain financing platform, Orjon.
3 months ago, the nation’s Ministry of IT chose IBM as the technology partner for building up a digital technology research center in Bangladesh’s capital city, Dhaka. The office is expected to assist innovation in breakthrough technologies including Big Data, Artificial Intelligence, and Blockchain.