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World Bank launches a blockchain lab to help fight against poverty

The institution is also viewing blockchain as a potential vehicle for building and restoring trust in institutions, which has fallen precipitously around the world in recent years.

The world's largest multilateral development bank is launching a blockchain lab as part of a bid to pilot projects that can improve governance and social outcomes in the developing world.

The World Bank, based in Washington, DC, officially launched the venue Tuesday morning to serve as a forum for learning, experimentation and collaboration on distributed ledger technology. The blockchain lab will now seek to bring together internal and external participants to work on blockchain use cases of significance to the bank's more than 80 client countries.

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