UNICEF just announced that they will be able to receive, hold and disburse donations of cryptocurrencies. They are accepting donations in Ethereum and Bitcoin, and each will be distributed without conversion.
The first donations come the Ethereum Foundation and will be received by the UNICEF Innovation Fund, and a GIGA Initiative project. UNICEF’s Innovation fund focuses on six blockchain projects listed below and the GIGA Initiative helps provide internet to schools.
Henrietta Fore, UNICEF executive director had some optimistic words to say about blockchain tech.
“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.”
This will be the first time Cryptocurrency donations are being used in the United Nations Organization. If any of the blockchains supported by UNICEF are built on the Ethereum network, having a backup bag of Eth could come in very handy.
The GIGA Initiative may have more unique uses. Their website shares very little information of how they operate, instead, asking viewers sign up for e-mail updates.
Crypto twitter loves when things like this happen. UNICEF’s announcement may not do much in the short term, but because of how reputable the organization is, it could definitely trigger people to find out what’s behind the decision.
This is big. https://t.co/Fgx3lCEnsS
— Kristy-Leigh Minehan (@OhGodAGirl) October 9, 2019
UNICEF Innovation Fund projects
- Developed a prototype to match investors with impact enterprises tracing and tracing impact
- Uses blockchain and AI to increase transparency and accountability of government resource allocation
- Solution to lack of electronic prescriptions in developing countries
- Supply-chain management system to ensure efficient logistics delivery of vaccines
- Allows users within network to give connectivity access to others instead of relying on internet and cell networks
- Helps facilitate participative decision making and value transfer in communities and organizations
Though UNICEF stated that this was “a first for United Nations organizations,” it appears that UNICEF took crypto donations in France in late 2018.