UNICEF Sets Up Crypto Fund to Receive Donations in Bitcoin/Ether
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.
This is not the UN's first endeavor in cryptocurrency; crypto is reportedly distributed in refugee camps in Jordan in place of food stamps.
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.