UNICEF Launches Cryptocurrency Fund Supported by Ethereum Foundation
Liam Frost's original article for cointelegraph.com reduced by 43%
UNICEF, the United Nations Children's Fund, has launched a cryptocurrency fund to support open source technology "Benefiting children and young people around the world." According to the official announcement published on Oct. 8, UNICEF thus became the first U.N. organization "To hold and make transactions in cryptocurrency," namely Bitcoin and Ether.
"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." Per the announcement, the Ethereum Foundation, a Swiss nonprofit organization, became the first contributor to the new cryptocurrency fund.
These funds "Will benefit three grantees of the UNICEF Innovation Fund" and "a project coordinated by the GIGA initiative to connect schools across the world to the internet," according to the announcement. As Cointelegraph reported on Dec. 10, 2018, the UNICEF Innovation Fund invested $100,000 in six companies for developing blockchain projects.
In February, Ethereum hardware hackathon ETHDenver partnered with UNICEF on a blockchain bounty token system.
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