The International Monetary Fund (IMF) announced on Wednesday that in order to manage the salaries of its officials and strengthen transparency in a country plagued by widespread corruption, Guinea-Bissau has launched a platform using “blockchain” technology.

Blockchain technology is a protocol that makes it possible to build and share a huge computer register. This register keeps track of all transactions that have occurred since its launch. The launch of the blockchain solution reinforces the transparency of payroll management in the ministries of Finance and Public Administration. According to Concha Verdugo-Yepes, Head of Mission, “while many countries use blockchain to address a wide range of banking problems, securitization of agricultural crops or cash transfers, Guinea-Bissau is one of the first countries to use this technology to address structural management of public finances