The United Nations’ charity arm for children, UNICEF, has launched a cryptocurrency fund and started accepting donations in both bitcoin and ether, the top two cryptocurrencies.
According to the organization’s announcement, the initiative was made to fund open-source technology benefitting children and young people throughout the world. Contributions made in cryptocurrency are set to be held in crypto, and granted out in crypto as well.
UNICEF’s executive director Henrietta Fore was quoted as saying:
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 first contribution to the UNICEF Cryptocurrency Fund is set to be made by the Ethereum Foundation, and will be granted to three startups, called Prescrypto, Atix Labs, and Utopixar. The release notes these “work in the areas of prescription tracking, matching investors and those needing funding, and community tokens and engagement.”
UNICEF’s announcement doesn’t reveal how much the Ethereum Foundation donated, but detailed the donation was made through the French National Committee. Via Twitter, the Foundation stated it sent the organization 100 ETH (around $18,200).
The United Nations’ charity arm for children added the Cryptocurrency Fund is part of its ongoing work with blockchain technology. As covered UNICEF France has been accepting cryptocurrency donations since last year, and added Dai donations to help fund blockchain projects in January of this year.
Featured image via Pixabay.