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Ethereum Foundation Donates $18,000 To UNICEF’s Cryptocurrency Fund

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Ethereum Foundation Donates $18,000 To UNICEF’s Cryptocurrency Fund

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Ethereum’s donation of $18,000 in Ether to the UNICEF Cryptocurrency fund further authenticates the acceptance of Cryptocurrency donations by UNICEF. Ethereum Foundation became the first to donate to the UNICEF’s innovation fund while promoting their Blockchain platform. 

According to an official statement by UNICEF, they will receive, hold, and disburse Cryptocurrencies through their UNICEF Cryptocurrency Fund. Although it is called the “UNICEF Cryptocurrency Fund, they only accept donations in Ether and Bitcoin. 

Furthermore, UNICEF will not be involved in any form of Cryptocurrency trading with these donations. However, they will give out grants in the same Cryptocurrency. 

The reason for UNICEF’s Cryptocurrency donation acceptance could be because they have seen it’s essential for the future.

Also related: Xago launches an exclusive Ripple gateway and exchange in South Africa.

Henrietta Fore, Executive Director of UNICEF, noted:

“digital economies and currencies have the potential to shape the lives of future generations. As a result, we must explore the opportunities that digital currencies provide. That is the reason why we have created our UNICEF Cryptocurrency Fund as a significant step in humanitarian and development work.”

ETH Foundation Set The Pace 

Ethereum Foundation became the first to donate to the UNICEF Cryptocurrency Fund at the tune of $18,000. The Foundation donated through the French UNICEF branch. 

The Executive Director of Ethereum Foundation, Aya Miyaguchi in his keynote speech at DevCon, confirmed her outfit donated $18,000 worth of Ether to UNICEF. 

Meanwhile, this is not the first time that UNICEF is adopting Cryptocurrency to enhance its donations. For instance, In 2018, UNICEF Australia used Cryptocurrency mining script Coinhive to allow people to donate their CPU power and mine Monero on behalf of the organization.

UNICEF Cryptocurrency Fund Donations 

United Nations International Children Emergency Fund (UNICEF) works in most of the toughest places on planet earth to get to many disadvantaged children. Therefore, it is as a result of the many financial burdens required to execute the tasks that the body has launched the UNICEF Cryptocurrency Fund. 

Prescrypto, Atix Labs, and Utopixar are mandated by UNICEF to receive the donations. These three UNICEF Innovation Fund grantees will work in the areas of prescription tracking and matching investors. 

Besides, they will work on the people that need funding as well as community tokens and engagements.

Also see: Mauritius Blockchain Regulatory Sandbox

Ethereum Foundation Initiative 

The Ethereum Foundation is a non-profit foundation promoting and supporting the Ethereum Blockchain platform. Additionally, the Foundation is employing base layer research, development, and education to help bring decentralized protocols to the mainstream. 

They help to empower developers to develop next-generation decentralized applications (Dapps). Ethereum Foundation partners these developers to build a better, globally accessible and more trustworthy internet.

Conclusion                                                                        

The creation of the UNICEF Cryptocurrency fund is an indication that digital currency has come to stay. Although it is no guarantee, the prospects and potentials are enormous to ignore.

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Image Credit: The Next Web

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