The World Bank has introduced FundsChain, a blockchain-based platform designed to improve how development funds are tracked across its global projects. Built on Hyperledger Besu, the system creates an immutable ledger that records every stage of fund disbursement.

The tool has already been tested in 13 projects across 10 countries, with plans to scale up to about 250 projects by June 2026. According to the Bank, FundsChain will cut reporting times from months to minutes, offer real-time visibility to auditors and partners, and reduce risks linked to manual, paper-based processes.

The platform allows users to upload supporting documents directly on-chain and can be accessed via mobile devices, making it suitable for regions with limited connectivity.

Although Nigeria has not yet been confirmed as a deployment site, the country’s growing digital infrastructure and active World Bank portfolio make it a likely candidate as the rollout expands. Visit www.jocomms.com for more news.