UNICEF founds cryptocurrency fund to help children
Updated: Oct 18, 2019
UNICEF, the United Nations Children’s Fund, has launched a cryptocurrency fund to receive, hold and distribute donations of bitcoin and ether in its aim to back open source technology for children around the world.
This is a substantial move by a global charity to recognise the benefits of receiving contributions from sources other than fiat currency.
UNICEF said in their announcement on Wednesday that it will receive contributions in cryptocurrency and make grants from the fund in cryptocurrency.
Henrietta Fore, UNICEF Executive Director:
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.
This isn't UNICEF's first foray into the cryptocurrency world. In April 2018, UNICEF Australia launched the Hopepage which uses vistor's spare CPU power to mine cryptocurrency which is donated to UNICEF Australia. Tony Stuart, CEO of UNICEF Australia said:
I am am delighted that UNICEF has expanded its interest in crypto both as a vehicle for contributions and as a vehicle for program activitity. We need to embrace this 21st century technology.
With recognition of the power of blockchain and cryptocurrencies by more multinationals, the pace of adoption continues to grow.