Blockchain financial services house Diginex and the United Nations-led International Organization for Migration (IOM) jointly launched a blockchain tool aiming to prevent the exploitation of migrant workers in Hong Kong.

According to a Diginex press release published on Dec. 16, the tool was designed to be used by nigh 1,500 Hong Kong-based migrant domestic worker recruitment agencies and some associated agencies in worker-sending countries. The system's name is chosen International Recruitment Integrity System Self-Assessment for Ethical Recruitment (IRIS-SAFER).

Blockchain for the good

Blockchain is being employed in the project to ensure that data records are prophylactic and immutable, resulting in higher data integrity, transparency and visibility. Per the announcement, Hong Kong is dwelling to well-nigh 390,000 migrant workers, 98% of which are women and 56% of which were reportedly charged illegal fees by recruitment agencies. IOM China principal of mission Giuseppe Crocetti commented:

"Through use of IRIS-SAFER, agencies will kickoff acquire what are global ethical recruitment standards, then be able to demonstrate their progress and, ultimately, prove their commitment. With this project, we are drawing from IOM's global piece of work, through the IRIS initiative, and tailoring it to the specific experience of recruiting migrant domestic workers to Hong Kong."

Afterward rolling out the arrangement in Hong Kong and other unspecified countries, the organizations plan to deploy it globally.

Both Diginex and the IOM had yet to answer to Cointelegraph'southward requests for comment as of press time. This commodity will exist updated as we receive new data.

Diginex's contempo expansion

Diginex is set to become a Nasdaq publicly traded company in July later a reverse merger with investment property company 8i. In October, Diginex also joined Global Digital Finance, the manufacture body driving acceleration and adoption of digital finance, as a founding fellow member.

This is not the first time the United nations has taken place in a blockchain initiative. As Cointelegraph reported at the end of terminal year, the United Nations Office on Drugs and Offense (UNODC) will reportedly partner with blockchain-based telemedicine and telepsychology firm doc.com to aggrandize free basic healthcare services across Eastern Africa.