The UN’s Children Fund UNICEF accepts cryptocurrency and would now be capable of accepting donations in the form of cryptocurrencies; the organization launched this cryptocurrency fund and will be accepting Bitcoin (BTC) and Ether (ETH). This global children’s charity would utilize these funds for storing donations.
The initial donation that UNICEF would get would be from the Ethereum Foundation that seeks to promote the blockchain-based platform of Ethereum. The donation would likely be given to the Innovation Fund’s three grantees of the UNICEF; responsible for connecting the school to the internet around the globe.
UNICEF accepts cryptocurrency
Per the reports, the Executive Director of UNICEF Henrietta Fore stated that if these virtual economies and cryptocurrencies possess the potential of shaping our lives, then it is imperative to explore such opportunities. Moreover, this move of creating a Cryptocurrency Fund is a leap forward towards more development and humanitarian endeavors.
Executive Director Aya Miyaguchi of the Ethereum Foundation in this regard stated that this fund is a chance to show the dynamism of cryptocurrencies and the technology of blockchain. Furthermore, she stated that the main aim of the foundation is to promote the Ethereum platform’s growth and research and to help the community thrive, which is striving to bring betterment to innumerable lives and various industries.
Back in 2015, the United Nations Innovation Network was established by UNICEF and the other organization of the UN. This network aims to research the potential benefits and drawbacks of rising technologies, including blockchain technology.
Experts believe that the move would not only enable new innovation in the cryptocurrency and blockchain spheres but would also allow the mass adoption of cryptocurrency. It would also help remove the stigma attached to the cryptocurrency sphere due to scams and money laundering.