The Patricia Blockchain Foundation, which provides blockchain-based web3 infrastructure, announced on the 30th that it has partnered with the International Committee of the Red Cross (ICRC) at the blockchain conference “Token 2049” in Singapore.

According to the partnership, the Patricia Blockchain Foundation, along with the International Committee of the Red Cross, will cooperate in developing stable coins to fund disaster or conflict areas around the world. Patricia Blockchain is specialized in security, scalability, and privacy protection using multilateral computing (MPC) and knowledge certification algorithms, and is designed to process transactions quickly.

Conflicting areas or places that need help from the International Committee of the Red Cross usually lack a banking system, and many people do not have accounts. Stablecoin is emerging as a means of funding for them. This is because blockchain enables rapid financing, low fees, and transparent transfer details. The World Food Program (WFP), an organization under the United Nations (UN), is already using stable coins to support refugees from around the world.

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“We are pleased to provide Patricia Blockchain solutions to the International Committee of the Red Cross, which strives to build a transparent financing and economic security system in conflict zones around the world,” said Kurt Nielsen, chairman of the Patricia Blockchain Foundation.