UNICEF Releases Cryptocurrency Fund to Enhance Blockchain Technology Adoption

10 October 2019 | Updated: 10 October 2019

The United Nations International Children’s Fund (UNICEF) has just released a cryptocurrency fund that will take in, handle and allocate payments in cryptocurrency denominations including Bitcoin as well as Ether, in a bid to finance the adoption of open source technology for kids across the globe.

This development was declared openly on the 9th of October where UNICEF said that this was a new project for them and that the crypto fund will only approve cryptocurrency payments and then give out grants in the exact cryptocurrency form.

The institution mentioned that its cryptocurrency fund has received its first payment from Ethereum Foundation and will be granting this donation to three recipients of the UNICEF Innovation Fund.

The Executive Director of the Ethereum Foundation Aya Miyaguchi announced at a DevCon exhibition that a total of 100 Ether, currently valued at $18,000 has been delivered to UNICEF for the new coalition. She also announced that the partnership with UNICEF was a means to enhance admittance to essential amenities, human rights, and aids.

The recipients expected to receive this donation include Atix Labs, Utopixar and Prescrypto. The mentioned recipients are focused on fields like trailing of prescriptions, connecting those in need of funding with appropriate investors, and population tokens and arrangements.

The Executive Director of UNICEF Henrietta Fore has expressed her delight in this project saying that it is a thrilling project for the organization. She went on to say that it was necessary for them to inquire into the openings provided by digital economies and currency, to mold the futures of succeeding coevals.

The cryptocurrency fund is a method being utilized by the UNICEF to push for the adoption of blockchain technology. Earlier in the year, UNICEF had meetings with the Kyrgyzstan authority to embrace blockchain usage to deliver adequate internet admittance to educational institutions in the nation through the “Project Connect Initiative”.

Also, in December of 2018, the institution declared that it would invest $100,000 in six different startups to tackle world challenges like transparency in healthcare delivery and management of finances and aids

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.