United Nations Secretary-General’s Task Force on Digital Financing of the Sustainable Development Goals releases interim report
The United Nations Secretary-General’s Task Force on Digital Financing of the Sustainable Development Goals released its interim report titled ‘Harnessing Digitalisation in Financing the Sustainable Development Goals’. The report explores how financial technology such as mobile payment platforms, artificial intelligence (AI), big data, Internet of things, blockchain and cryptocurrencies could improve but also stall progress on 2030 Agenda. The report highlights that digitalisation on its own does not empower citizens in their financing decisions and that financial inclusion goes beyond accessibility and affordability of digital infrastructure. Moreover, it underscores that ordinary citizens, as the world’s financiers, require a better understanding of the financial system that remains a somewhat ‘unintelligible black box’ for most individuals. That said, the Task Force acknowledges that access to information, collective action and intermediation of financial actors could help citizens overcome this ‘black box’ challenge.
The interim report was presented at the 74th session of the United Nations General Assembly whereas the final version is expected in 2020.