UNICEF Becomes First UN Commission To Launch A Crypto Fund; Ethereum Foundation Donated 100 ETH
The United Nations Children Education Fund (UNICEF) becomes the first UN commission to accept and make cryptocurrency donations. The announcement further claims these donations will be used to fund open source technology development for children across the globe.
UNICEF To Make Crypto Donations
The world is gradually embracing cryptocurrency as UNICEF becomes the latest charity organization to join in the crypto bandwagon. The report published on October 9 states the UN commission will start accepting donations in Bitcoin (BTC) and Ethereum (ETH) and will disburse these donations as digital assets.
This is a big step for the cryptocurrency industry as one of the well-known charity organizations promote the use of digital assets to purchase value. Henrietta Fore, UNICEF Executive Director, is excited at the new venture the commission is undertaking calling the cryptocurrency fund “a significant and welcome step forward in humanitarian and development work.”
Henrietta further said,
“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.”
The cryptocurrency fund launched in France, USA, New Zealand, and Australia UNICEF national committees.
Binance CEO, Changpeng Zhao, who has been at the forefront of cryptocurrency enabled charities, commended the latest move by UNICEF on Twitter. CZ wrote,
“Another not so small charity organization dipping into crypto.”
Ethereum Foundation Gives First Donation
The Fund received its first-ever donation from the Ethereum Foundation, an organization working on the development and management of the Ethereum blockchain. The Foundation’s 100ETH (~$18,000 USD) donation is registered through the French National Committee and will benefit three grantees of the UNICEF Innovation Program, helping schools across the world to connect to the internet.
Aya Miyaguchi, Executive Director of the Ethereum Foundation said,
“Together with UNICEF, we're taking action with the Cryptofund to improve access to basic needs, rights, and resources. […] We'd like to thank UNICEF and the UNICEF family of national committees for their leadership as we create real progress together.”
Blockchain in UNICEF
Despite this being the first time UNICEF is accepting crypto donations, the charitable organization has worked on blockchain projects before. In early March this year, UNICEF partnered with the local governments of Kyrgyzstan to integrate decentralized technologies in order to provide internet connection across schools in the country.