The United Nations children’s agency, UNICEF has unveiled its very own cryptocurrency fund. Now, you can donate your digital assets.
UNICEF pioneers this kind of project for U.N. organizations. Besides, it will use crypto to fund open source technology for the benefit of children and young people around the globe.
Structure of the fund
The UNICEF Cryptocurrency Fund is structured in a unique way. It will accept donations in cryptocurrencies and grant them out in it. Thus, it won’t convert funds received into fiat.
UNICEF Executive Director, Henrietta Fore 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. Thus, it is important that we explore the opportunities they offer. That’s why the creation of our Cryptocurrency Fund is significant. And we welcome it for the forward movement of humanitarian and development work,” she added.
Additionally, the Ethereum Foundation will make the first donation to the Fund. This will benefit three grantees of their Innovation Fund.
Director of Ethereum Foundation, Aya Miyaguchi commented on the development. He said: “The Ethereum Foundation is excited to demonstrate what Ethereum and blockchain technology can do around the world. Alongside UNICEF, we’re taking action with the Cryptofund to improve access to basic needs, rights, and resources.”
“We aim to grow the community that benefits from this technology and will better countless lives and industries for years, ” he added.
Longtime admirer of crypto
The U.N organization has no problem with the crypto industry. Previously, it asked people to donate part of their computer’s power to let them mine cryptocurrency.
In addition, the UNICEF Cryptocurrency Fund is part of the NGO’s ongoing work with blockchain technology. It co-leads the UN Innovation Network with WFP.
Currently, UNICEF national committees of the USA, Australia, and New Zealand also accept cryptocurrency.