UNICEF has launched a cryptocurrency fund in order to receive, hold, and distribute bitcoin donations and ether to back open-source technology for its United Nations Children’s Fund.
Unicef Cryptocurrency Fund
On Oct. 8. UNICEF made an announcement on its official site that the UN organizations will receive cryptocurrency donations while the grant will be also distributed in cryptocurrencies.
The organization added the first contributions to the UNICEF Cryptocurrency Fund come from the Ethereum Foundation and will benefit three grantees of the UNICEF Innovation Fund.
The three grantees that will initially receive the donations are
It will be focusing on the areas of “prescription tracking, matching investors and those needing funding, and community tokens and engagement.”
Initial Donations Made in Ether
In a keynote speech delivered by Aya Miyaguchi, executive director of the Ethereum Foundation at the DevCon event that ‘100 ether, worth about $18,000 at its current price, has been sent to the UNICEF via the new partnership.’
“This is a new and exciting venture for UNICEF,” said UNICEF Executive Director Henrietta Fore. “If digital economies and currencies have the potential to shape the lives of coming generations, it is important that we explore the opportunities they offer. ”
“Together with UNICEF, we’re taking action with the Crypto Fund to improve access to basic needs, rights, and resources,” Aya Miyaguchi, executive director of the Ethereum Foundation
UN Postive on Blockchain Technology
UN children agency’s step in adopting blockchain technology is the latest push for its wider goal.
Earlier, this year the agency had talks with the Kyrgyzstan government in adopting blockchain to provide internet access to schools in the country via the so-called Project Connect initiative.
In December last year, UNICEF said it was investing $100,000 in six blockchain startups in order to solve global challenges via blockchain, ranging from healthcare delivery transparency to managing finances and resources.
Last year, UNICEF said that it was investing ‘$100,000 in six blockchain startups in order to solve global challenges via blockchain, ranging from healthcare delivery transparency to managing finances and resources.’
Source: Coindesk.com| Image: Shutterstock