Cryptocurrency Fund Established By UNICEF

Announcements, News | October 10, 2019 By:

The United Nations Children’s Fund (UNICEF) has established a new Cryptocurrency Fund, enabling it to receive, hold and disburse donations in major cryptocurrencies, such as bitcoin and ether.

In a press release, UNICEF said that the crypto donations will be used to fund open source technology benefiting children and young people around the world.

“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.”

According to the organization, 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.

Aya Miyaguchi, Executive Director of the Ethereum Foundation, said that together with UNICEF, they’re taking action with the Crypto Fund to improve access to basic needs, rights, and resources.

“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,” Miyaguchi said. “We’d like to thank UNICEF and the UNICEF family of national committees for their leadership as we create real progress together.”