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UNICEF Launches Cryptocurrency Fund Supported by Ethereum Foundation

UNICEF, the United Nations Children’s Fund, has launched a cryptocurrency fund to assist open supply expertise “benefiting children and young people around the world.”

According to the official announcement revealed on Oct. 8, UNICEF thus grew to become the primary U.N. group “to hold and make transactions in cryptocurrency,” particularly Bitcoin (BTC) and Ether (ETH). UNICEF govt director Henrietta Fore added:

“This is a brand new and thrilling enterprise for UNICEF. If digital economies and currencies have the potential to form the lives of coming generations, it can be crucial that we discover the alternatives they provide. That’s why the creation of our Cryptocurrency Fund is a major and welcome step ahead in humanitarian and improvement work.”

Ethereum platform can “higher numerous lives”

Per the announcement, the Ethereum Foundation, a Swiss nonprofit group, grew to become the primary contributor to the brand new cryptocurrency fund. Aya Miyaguchi, govt director of the Foundation, reportedly stated that 100 Ethers — roughly $18,000 at press time — had been already despatched to the UNICEF by way of the brand new partnership.

These funds “will benefit three grantees of the UNICEF Innovation Fund” and “a project coordinated by the GIGA initiative to connect schools across the world to the internet,” in line with the announcement. Miyaguchi added:

“We aim to support the research and development of the Ethereum platform, and to grow the community of those that benefit from a technology that will better countless lives and industries in the years to come.”

As Cointelegraph reported on Dec. 10, 2019, the UNICEF Innovation Fund invested $100,000 in six corporations for growing blockchain tasks.

In February, Ethereum {hardware} hackathon ETHDenver partnered with UNICEF on a blockchain bounty token system.

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