Unicef Is Preparing Major Moves With Bitcoin & Crypto Payment Donations

The United Nations Children’s Fund – commonly known as Unicef – is getting prepared to change the way in which people is related with their mobile phones. In this case, it is possible to benefit from immutable, accessible, and decentralized global networks of information and data.

The leader of Unicef Ventures, Christopher Fabian, explains:

“An international organization like UNICEF moves a lot of money. In 2016, UNICEF procured $1.6 billion worth of vaccines, paid the salaries of 12,000 global staff and subcontractors, and in 2017 transferred$158 million in cash to more than 10 million people in need. The more we can reduce friction in these transactions, the more of each dollar can reach its intended recipient.”

So, this is one of the first statements that is made by an institution that shares its intention of using cryptocurrencies for its operations. For example, there is an intention of making a differentiation between crypto and traditional donors. Why? Because traditional investors are less prone to bet on risky developments. Instead, crypto investors have a higher level of experimentation, failure, and risk than other donors like governments and foundations.

And this is a great opportunity to develop funding proposals or programs with greater risks in early stages but better innovations in the future. At the same time, the transparency of these technologies may also create new expectations about how accountable organizations can be.

For example, it is possible to imagine a world in which companies or connectivity providers start accepting crypto payments, something that would enable international organizations to hold the famous virtual currency. Additionally, these organizations can also invest them directly and enable donors to see where their resource are being used.

In addition to it, they highlight the launch of the UNICEF Innovation Fund which is going to look for $50,000 to $90,000 equity-free investments to provide early stage finance to technological startups with potential benefits for humanity.

“We suggest that efforts to build capacity in key markets begin immediately by teaching fundamental skills and concepts of distributed networks, as there will be a learning curve, even for programmers who are used to corporate software development,” they explained.

It is important to mention that they have experimented with Bitcoin and its blockchain, back in 2015 with the intention to implement digital identities on the blockchain.

A movement that is worth to mention is the time when individuals begun donating virtual currencies to Venezuelans, being able to buy food, and medicines.

Earlier this year, UNICEF Australia allows individuals to mine virtual currencies and donate the funds to charitable purposes.

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