The United Nations Children’s Fund has expressed its open positive stance in regards to the Blockchain technology. In the latest news, UNICEF Supports Blockchain startups to benefit humanity.
26 January, AtoZForex – The UNICEF Innovation Fund has made a decision to provide financial support to for-profit technology startups that can potentially benefit humanity via Blockchain. The organization plans to invest around $50-90K into the Blockchain projects.
UNICEF Supports Blockchain Startups to Benefit Humanity
At the moment, UNIFEC Innovation Fund is calling for applications from startups. Any startup that is registered in one of UNICEF’s programme countries can apply. However, the organization also requires an open-source approach. This implies that applications should have a working, open-source prototype that presents “promising results”.
Alternatively, applicants should be willing to make their software and Blockchain solution open source.
The funding from UNICEF will be used for prototype testing and evaluation. Moreover, it will help to get projects to a stage where the firm has proven that solution works. The organization believes that the initiatives must benefit children.
What kind of projects is valid?
UNICEF is seeking applications from the companies that work in the following areas:
- smart contracts
- analysing data
In addition, the organization is “interested in companies that use distributed ledger tech in new, groundbreaking, ways that are scalable, and globally applicable. If you are aligned with our general criteria, we want to hear from you.”
UNICEF Outlines Blockchain Challenges
The UNICEF Innovation Fund’s invitation for applications also outlines a number of challenges that companies should seek to solve:
- Using smart contracts to replicate and improve on existing organisational mechanisms
- Transparency in distribution of resources (can we better show where our money is going?)
- Using machine learning to understand the activities on public blockchains.
- Can crypto-flows be used to help organizations and governments do and understand their transactions more efficiently?
- Can blockchain data be used to solve humanitarian challenges? (i.e. using bitcoin data to fight human trafficking)?
- Can crypto tokens work to incentivise or support behaviour that benefits humanity?
- How could we connect various tokens to each other to maximise human potential?
- How could we utilize digital scarcity, non-fungible tokens, or digital collectibles for social good?
- Can we use passive distributed mining networks to create investment funding opportunities for the UNICEF Venture Fund?
UNICEF Offers Guidance
Aside from funding part, the selected applicants will receive technical assistance from UNICEF Ventures team to develop their solutions. This covers access to a network of mentors who are responsible to help startups create their strategy and grow as a company.
If you want to apply, you will need to send the application to UNICEF Innovation Fund directly. The deadline for applications is 11:59 EST on 28 February 2018.
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