UNICEF launches Cryptocurrency Fund

9 Oct 2019 04:04 PM

UNICEF will now be able to receive, hold and disburse donations of cryptocurrencies ether and bitcoin, through its newly-established UNICEF Cryptocurrency Fund. In a first for United Nations organisations, UNICEF will use cryptocurrencies to fund open source technology benefiting children and young people around the world.

Under the structure of the UNICEF Cryptocurrency Fund, contributions will be held in their cryptocurrency of contribution, and granted out in the same cryptocurrency.

“This is a new and exciting venture for UNICEF,” said Henrietta Fore, UNICEF Executive Director. “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.”

The first contributions to the UNICEF Cryptocurrency Fund will be received from the Ethereum Foundation and 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.

“The Ethereum Foundation is excited to demonstrate the power of what Ethereum and blockchain technology can do for communities around the world. Together with UNICEF, we’re taking action with the Cryptofund to improve access to basic needs, rights, and resources,” said Aya Miyaguchi, Executive Director of the Ethereum Foundation. “We aim to support the research and development of the Ethereum platform, and to grow the community of those that benefit from a technology that will better countless lives and industries in the years to come. We’d like to thank UNICEF and the UNICEF family of national committees for their leadership as we create real progress together.”

The Ethereum Foundation will make its initial donation through the French National Committee for UNICEF.

UNICEF national committees of USA, Australia and New Zealand also accept cryptocurrency.

The launch of the UNICEF Cryptocurrency Fund is part of UNICEF’s ongoing work with blockchain technology. UNICEF co-leads the UN Innovation Network with WFP. The network is responsible for researching the potential and pitfalls of blockchain and other emerging technologies.

For more information, please contact:

Unicef UK Media Team, 0207 375 6030, media@unicef.org.uk

About Unicef

Unicef is the world’s leading organisation for children, promoting the rights and wellbeing of every child, in everything we do. Together with our partners, we work in 190 countries and territories to translate that commitment into practical action, focusing special effort on reaching the most vulnerable and excluded children, to the benefit of all children, everywhere.

Unicef UK raises funds to protect children in danger, transform their lives and build a safer world for tomorrow’s children. As a registered charity we raise funds through donations from individuals, organisations and companies and we lobby and campaign to keep children safe. Unicef UK also runs programmes in schools, hospitals and with local authorities in the UK.

For more information please visit unicef.org.uk

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About Etherium Foundation

The Ethereum Foundation is a non-profit foundation with the mission to promote and support Ethereum platform and base layer research, development and education to bring decentralised protocols and tools to the world that empower developers to produce next generation decentralised applications (dapps), and together build a more globally accessible, freer and more trustworthy Internet.