UNICEF Becomes First UN Organization to Launch Cryptocurrency Fund
Cryptocurrency is beginning to garner the necessary awareness to reach the uttermost part of the world. One such notable awareness is the launch of the UNICEF Cryptocurrency Fund by the United Nations International Children’s Emergency Fund.
The recent development has opened the door for the globally known organization to receive, possess, and disburse donations of digital currencies such as Ethereum (ETH) and Bitcoin (BTC).
UNICEF Fronts the Acceptance of Cryptocurrency
This newly launched UNICEF Cryptocurrency Fund has made the children-focused organization become the first United Nations organization to accept and hold the cryptocurrency. This is seen as a step in the right direction for the consistent growth and global adoption of cryptographic projects.
According to the update published on the official website of the organization, it will be leveraging on cryptocurrency to fund open source technology, in order to make children all over the globe benefit from the nascent technological advancement.
The report further stated that donations will be received and held in cryptocurrency, and it will then be disbursed to where necessary via the same channel it was received. All these stated will play out under the newly launched structure.
Henrietta Fore, the UNICEF Executive Director sees the development as a big deal for the advancement of the organization. Stating further, she acknowledged the fast growth of digital economies and currencies, which will obviously impact the lives of the coming generation.
So she used the medium to clarify the notion of the organization in exploring the utilities which cryptocurrencies offer, as she views it as a notable and acceptable step towards humanitarian and development work.
Ethereum Foundation to Make the First Contribution
According to the report, Ethereum Foundation will be making the first donation to UNICEF Cryptocurrency Fund. The contribution will have a great impact on the quest to get schools across the world connected to the internet.
The Executive Director of the Ethereum Foundation, Aya Miyaguchi, said that the Foundation sees this as a golden opportunity to display the competency of blockchain technology in the nuke and cranny of the world.
Miyaguchi said: “…Together with UNICEF, we’re taking action with the Crypto fund to improve access to basic needs, rights, and resources”. The first contribution will be made by Ethereum Foundation via the French National Committee for UNICEF.
Obviously, both will derive mutual benefits in this new development, since vast people across the world now hold or trade with cryptocurrency.
UNICEF wants to work with blockchain technology, while Etheruem Foundation thirsts for an avenue to spread the use cases of the nascent technology. This is quite a win-win UNICEF and the cryptocurrency influencers, which will end up bolstering the growth assurance and the future of digital currency.