UNICEF Unveils Cryptocurrency Donation Fund - Blockchain.News

UNICEF Unveils Cryptocurrency Donation Fund

Brian Njuguna Oct 10, 2019 03:55

UNICEF has launched a cryptocurrency fund intended for open-source technology funding, whereby Ether and Bitcoin will be accepted. The donations will be beneficial to young people and children across the globe.

UNICEF Unveils Cryptocurrency Donation Fund

UNICEF (United Nations International Children’s Emergency Fund), whose objective is defending children’s rights and assisting them in attaining their optimal potential, has unveiled a cryptocurrency donation fund for this goal. 

Expressly, UNICEF will be able to disburse, hold, and receive cryptocurrency donations in both ether and bitcoin. UNICEF has, therefore, set a precedent as this is the first-ever move by a UN organization. The UNICEF crypto initiative was launched for open-source technology funding as it will be beneficial to young people and children across the globe. 

Henrietta Fore, UNICEF’s executive director, noted that emerging technologies should be embraced. She asserted:

“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. That’s why the creation of our Cryptocurrency Fund is a significant and welcome step forward in humanitarian and development work."

Furthermore, the Ethereum Foundation is expected to make the first contribution. Its executive director, Aya Miyaguchi, made this revelation, proclaiming:

“The Ethereum Foundation is excited to demonstrate the power of what Ethereum and blockchain technology can do for communities around the world. Together with UNICEF, we're taking action with the Cryptofund to improve access to basic needs, rights, and resources.”

The UNICEF Cryptocurrency Donation Fund is part of the organization’s ongoing project with blockchain technology. Notably, UNICEF is instrumental in the UN Innovation Network mandated with researching the capabilities and challenges of blockchain, as well as innovative technologies. 


Image via Shutterstock
Image source: Shutterstock