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UNICEF Rolls Out a Crypto Fund Supported by the Ethereum Foundation

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UNICEF rolls out a crypto fund

UNICEF has launched a crypto fund to underpin open source technology for children across the globe. The organization unveiled this news on October 9. It noted that it would use the fund to receive and hold crypto donations. The fund will reportedly support BTC and ETH donations.

Commenting on the launch of the crypto fund, Henrietta Fore, the executive director at UNICEF said,

This is a new and exciting venture for UNICEF. 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.

The Ethereum Foundation Seeks to Improve Access to Basic Needs

The Ethereum Foundation will become the first firm to contribute towards this course. The firm is set to donate 100 ETH through the French National Committee for UNICEF. These funds will benefit three grantees of the UNICEF Innovation Fund. These are Prescrypto, Atix Labs, and Utopixar. Apart from this, these funds would also go towards funding a project by the GIGA initiative, which seeks to connect schools across the globe to the internet.

Aya Migauchi, the executive director of the Ethereum Foundation said,

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 Crypto fund to improve access to basic needs, rights, and resources,

She 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. We’d like to thank UNICEF and the UNICEF family of national committees for their leadership as we create real progress together.

This news comes after UNICEF unveiled that it would invest $100,000 in six blockchain startups. The firms that were set to get these funds were Atix Labs, Onesmart, Prescrypto, Statwig, Utopixar, and W3 Engineers. According to UNICEF, these funds sought to help solve global challenges using the blockchain.

Chris Fabian, the principal advisor at UNICEF Innovation said,

Blockchain technology is still at an early stage — and there is a great deal of experimentation, failure, and learning ahead of us as we see how, and where, we can use this technology to create a better world,

Do you think UNICEF launching a crypto fund will help boost crypto adoption? Let us know in the comments below.

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