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IBM is introducing a blockchain solution for elementary school teachers’ pensions in Bangladesh

June 14, 2020

IBM has announced one initiative build an architecture based on distributed ledger technologyor DLT to cement the digital pension system for primary school teachers in Bangladesh.

The proof of concept includes an authorized network of teachers and other stakeholders supported by the IBM Blockchain Platformthat upload pension information to ensure tamper-proof records and provide security guarantees to teachers participating in GBB’s electronic pension system.

The pilot project is being carried out in collaboration with the Bangladesh Computer Council, BCC, a government agency that oversees the country’s information technology policy.

IBM is introducing a blockchain solution for elementary school teachers’ pensions in BangladeshIBM is introducing a blockchain solution for elementary school teachers’ pensions in Bangladesh

The blockchain platform from IBM Host Live version of the infrastructure digital pension.

The Bangladesh government is modernizing pensions with DLT

“We believe that the blockchain will strengthen confidence in the electronic pension system by ensuring this Payments are based on accurate and authentic information“said BCC managing director Parthapratim Deb.

The predicted pilot will inspire more Bangladeshi government blockchain initiatives“Success will likely encourage other agencies to review applications for our core blockchain platform, which will further the BCC’s mission to transform government digital services.”

The pilot project was proposed by developers who represent the team for national digital architecture in Bangladesh, or BNDA and BNDA had previously created an e-governance framework to standardize the delivery of digital services to all government agencies in Bangladesh.

IBM expands blockchain activities in Bangladesh

During the last 12 months IBM has launched a number of blockchain initiatives in BangladeshWorking with public and private institutions to modernize many of the systems on which the organization of Bangladeshi society is based.

In December, IBM partnered with local company IPDC Finance Limited to launch the first company DLT-based supply chain financing platform of the country, Orjon.

Three months earlier, the country’s information technology ministry had selected IBM as its technology partner to set up a digital technology research center in Bangladesh’s capital Dhaka. The center aims to accelerate innovations in cutting-edge technologies such as blockchain, artificial intelligence and big data.

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