UNICEF launches Cryptocurrency Fund
The United Nations Children’s Fund (UNICEF) is the first UN agency that allows donations in cryptocurrency through the launch of Cryptocurrency Fund. Through the new fund, UNICEF will be able to receive, hold, and disburse donations of cryptocurrencies and bitcoins aiming at funding open source technology benefiting children and young people around the world. ‘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,’ noted UNICEF Executive Director Henrietta Fore. Ethereum Foundation will be the first to donate to the newly-established fund to espouse three grantees of the UNICEF Innovation Fund and a project to connect schools across the world to the internet that is coordinated by the GIGA initiative. The Cryptocurrency Fund is part of UNICEF’s ongoing work with blockchain technology that endeavors to look for the drawbacks and potential of blockchain.