IBM launches blockchain solution for primary school teachers‘ pensions in Bangladesh

IBM has announced an initiative to build an architecture based on distributed registration technology, or DLT, to underpin the digital pension system for primary school teachers in Bangladesh.

The proof of concept comprises an authorized network of teachers and other stakeholders driven by the IBM Blockchain Platform, where pension information is uploaded to ensure tamper-proof record keeping and provide security guarantees to teachers participating in the GBB e-pension system.

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

Report: The main cases of blockchain use are in payments, security and settlements
IBM’s blockchain platform is expected to host the live version of the digital pension infrastructure.

Bangladesh government modernizes pensions with DLT

„We believe the blockchain will increase confidence in the electronic pension system by ensuring that payments are based on accurate and authentic information,“ said BCC CEO Parthapratim Deb.

Deb predicted that the pilot will inspire more blockchain initiatives from the Bangladesh government, stating, „Its success will likely encourage other agencies to explore applications for our core blockchain platform, furthering the BCC’s mission of transforming digital government services.

Bangladeshi bank with $4 billion in assets now uses RippleNet

The pilot project was proposed by promoters representing the Bangladesh National Digital Architecture team, or BNDA, and BNDA had previously built an e-governance framework to standardize the delivery of digital services across government agencies in Bangladesh.

IBM expands blockchain operations in Bangladesh

Over the past 12 months, Iq Option has launched a series of blockchain initiatives in Bangladesh, in collaboration with both public and private entities, to modernize many of the systems that underpin the organization of Bangladeshi society.

Bangladesh will use the TI fund to finance blockchain education for its graduates
In December, IBM collaborated with local company IPDC Finance Limited to launch the country’s first DLT-based supply chain finance platform, Orjon.

Three months earlier, the country’s Ministry of Information Technology selected IBM as a technology partner to establish a digital technology research center in Bangladesh’s capital, Dhaka. The centre aims to accelerate innovation in cutting-edge technologies such as blockchain, artificial intelligence and large data.