UNICEF has launched a cryptocurrency fund to support open source technology for the benefit of children and young people around the world.
October 9, 2019, | AtoZ Markets — The United Nations Children’s Fund (UNICEF) is formerly recognized as the United Nations International Children’s Fund. It works in over 190 countries and territories to protect the rights of every child. It has worked for 70 years to improve the lives of children and their families. Despite considerable challenges around the world, Its staff are fighting for the rights of every child in search of a safe shelter, nutrition, disaster and conflict protection and equality.
UNICEF Launches Cryptocurrency Fund
UNICEF has launched a cryptocurrency fund and is accepting donations in Bitcoin (BTC) and ether (ETH). Announcing the news on Tuesday (Oct. 8), It said the initiative was launched to finance open-source technology for the benefit of children and young people around the world.
UNICEF has stated that it will receive BTC and ETH donations through the fund. ” Digital economies and currencies have the potential to shape the lives of future generations. It is important to explore the opportunities they offer,” said Henrietta Fore, executive director of UNICEF.
The Ethereum Foundation is the first donor of the fund, having granted three startups – Prescrypto, Atix Labs, and Utopixar – “that work in the areas of monitoring prescriptions, matching investors, and those who need financing, and community tokens and commitment.”
While UNICEF did not disclose the amount of the grants, the Ethereum Foundation recently said it had sent 100 ETH (approximately $18,000) to UNICEF. Aya Miyaguchi, executive director of the Ethereum Foundation, said: “Together with UNICEF, we are working with Crypto fund to improve access to basic needs, rights, and resources.”
UNICEF Ventures Explores Blockchain Technologies
UNICEF Ventures explores Blockchain technologies, with the potential to impact children and young people globally. Their team believes that Blockchain technology has benefits in 3 main ways.
- Strengthen resources through innovative financing models.
- Increase the efficiency and transparency of internal processes.
- Fundamentally breaking broken systems to provide programs for children in new ways. The approach to achieve this goal is research and prototyping with internal and external stakeholders.
It is not the first time that UNICEF has been exploring blockchain technology. Earlier this year, the charitable organization held talks with the Kyrgyz government to exploit blockchain technology to provide Internet access to all schools in the Central Asian country.
It is better to understand the technical, social, ethical, ethical, and legal challenges of using blockchain technologies in this complex and interconnected world. Their team is exploring this space with open eyes on practical experiments with cryptocurrencies, smart contracts, digital scarcity, digital collectibles, and various types of tokens.
Last December, UNICEF granted $ 100,000 to six blockchain startups to solve problems ranging from healthcare to finance and resource management.
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