The United Nations Children’s Fund (UNICEF) has created a fund to receive, maintain and distribute donations in BTC and Ethereum. The goal is to fund open source technologies that benefit children and young people around the world, the institution said on Wednesday.
With the program, called “UNICEF Cryptocurrency Fund”, the entity becomes the first of the United Nations to transact in crypto money.
For Henrietta Fore- executive director of the institution, the creation of the ‘UNICEF Cryptocurrency Fund’ is a significant step towards the development of humanitarian work. She said,
“This is an exciting new venture for UNICEF. If digital economies and currencies have the potential to shape the lives of future generations, it is important to explore the opportunities they offer.”
Ethereum Foundation supports UNICEF
According to the statement, the first contributions to the new fund will be received from the Ethereum Foundation. They will benefit three grantees from the organization’s Innovation Fund and also a project that connects schools to the internet.
Aya Miyaguchi, the institution’s executive director stated,
“The Ethereum Foundation is excited to demonstrate the power Ethereum and blockchain technology can do for communities around the world,”
According to her, the goal is to support the research and development of the Ethereum platform and to increase the community of those who benefit from the new technology. She also mentioned that it is a technology that will improve the lives of many people and industries in the coming years.
“We want to thank UNICEF and the family of the national committees for their leadership and for this measure we have created, real progress together,”.
Also according to the statement, the launch of the Fund is part of the institution’s ongoing work on blockchain technology.