UNICEFThe United Nations Children’s Fund UNICEF said it has set up a cryptocurrency fund to receive, hold and disburse donations in Ether and Bitcoin. It will use cryptocurrencies to fund open source technology benefiting children and young people around the world.

UNICEF will be able to receive, hold and disburse donations of cryptocurrencies through its newly-established UNICEF Cryptocurrency Fund. Under the structure of the fund, contributions will be held in their cryptocurrency of contribution, and granted out in the same cryptocurrency, UNICEF said in a statement.

“This is a new and exciting venture for UNICEF,” said Henrietta Fore, UNICEF Executive Director. “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 contributions to the fund will be received from the Ethereum Foundation and will benefit three grantees of the UNICEF Innovation Fund and a project coordinated by the GIGA initiative to connect schools across the world to the internet, UNICEF said.

“…Together with UNICEF, we’re taking action with the Crypto fund to improve access to basic needs, rights, and resources,” said Aya Miyaguchi, Executive Director of the Ethereum Foundation.

“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.”

The Ethereum Foundation will make its initial donation through the French National Committee for UNICEF. UNICEF national committees of USA, Australia and New Zealand also accept cryptocurrency.

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by Krishna V Kurup
Senior Market Analyst at IBS Intelligence
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