World News: 20:00 GMT Friday 14th September 2018. [Everest via Globe Newswire via SPi World News]
SAN DIEGO, Sept. 14, 2018 (GLOBE NEWSWIRE) -- Everest, the first platform to combine biometric identity with a digital wallet, announced today that it is partnering with Indonesia’s TNP2K (National Team for the Acceleration of Poverty Reduction) to conduct a pilot in selected regions to enhance the efficiency, accountability, transparency, and gender inclusivity of the National LPG (Liquefied Petroleum Gas) Subsidy Program.
By leveraging blockchain technologies, the Everest platform helps deliver subsidies to digital wallets, enabling those who meet the requirements to realize this important benefit, even users without a mobile device. The LPG subsidy program was developed to provide 41 million Indonesian households with liquified petroleum gas as cooking fuel instead of dangerous and costly kerosene.
“We are very excited to work with the Government of Indonesia to deliver its LPG subsidies,” said Everest CEO Bob Reid. “By delivering subsidies to biometrically validated digital wallets and savings accounts over a transparent and low-cost blockchain, the government is modernizing government service delivery, cutting down on leakage, and enabling banking services with enhanced financial inclusion. We look forward to working with our integrated banking partners and the government to bring additional services to Indonesian citizens over the next few years.”
“This is needed by the Government of Indonesia to provide an option for one of the potential mechanisms for disbursing LPG subsidy,” said Bambang Widianto, Deputy Chief of Staff for Human Development and Equality/Executive Secretary of the National Team for the Acceleration of Poverty Reduction (TNP2K). “The solution that will be tested by utilizing digital ID of beneficiary is expected to transform the current mechanism by ensuring the right targeting. The new mechanism is expected that only those who are entitled (poor and vulnerable household) can enjoy this subsidy and also to save more than USD 1.3 billion in government subsidy funds.”
"ID2020 supports pilot projects that provide broad and sustained benefit for individuals. We are excited by the potential for this project to address an immediate challenge faced by this community, while also opening the door to easier access to other critical governmental programs, including healthcare, education and financial inclusion," said Dakota Gruener, Executive Director of ID2020.
The first pilot program of its kind in the Association of Southeast Asian Nations (ASEAN), the blockchain-based solution will focus on several regions in Indonesia and will impact thousands of beneficiaries. Everest’s technologies will achieve the overarching transparency and accountability required, while also providing beneficiary ranking, know-your-customer verification, secure subsidy transfer, supply chain integration, inventory/cost controls, inter-agency data coordination, and the real-time monitoring of activities. To be optimally effective, the LPG subsidy program needs to interface seamlessly with existing population and poverty-based databases; meet gender inclusivity efforts; and enable turnkey supply/value chain management. Meeting these goals will make the program an effective policy tool for the promotion of safe, clean cooking fuel among poor and vulnerable households.
Globe Newswire: 20:00 GMT Friday 14th September 2018
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