UNICEF Sets Up Crypto Fund to Receive Donations in Bitcoin/Ether

UNICEF Sets Up Crypto Fund to Receive Donations in Bitcoin/Ether

The United Nations' Children's Emergency Fund, UNICEF, today announced a new funding mechanism for UNICEF to collect, keep and disburse Ether and Bitcoin donations.

Contributions will be stored in either ether or bitcoin and distributed as donations in the same currency. UNICEF will welcome crypto donations in France, the US, Australia, and New Zealand through national committees.

The contributions in crypto will be used to finance open-source software that helps children around the world. The first donations will come from the Ethereum Foundation and will be granted to three UNICEF Innovation Fund grants, as well as a campaign that will provide schools with internet access.

Together with UNICEF, we’re taking action with the Cryptofund to improve access to basic needs, rights, and resources.
— Aya Miyaguchi, Executive Director, Ethereum Foundation.

This is not the UN's first endeavor in cryptocurrency; crypto is reportedly distributed in refugee camps in Jordan in place of food stamps.

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.
— Henrietta Fore, Executive Director, UNICEF

Crypto is increasingly adopted for charity due to its high-speed transactions. Coinbase, Ripple, and Binance have notably launched huge charity initiatives, raising and disbursing crypto worth hundreds of millions of dollars between them.

Last month, Coinbase enabled crypto donations for relief efforts in the Bahamas due to the extremely destructive Hurricane Dorian.




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