UNICEF now accepts cryptocurrency
The charity arm for the United Nations just made it easier for anyone to contribute
UNICEF, the United Nations International Children’s Fund, has announced that it is now embracing cryptocurrencies. However, the endeavor goes further than just allowing for someone to make a donation with either Bitcoin (BTC) or Ether (ETH), as the charitable arm will maintain digital assets it receives in crypto wallets and will also make contributions in crypto, as well. It’s a bold move, given the market volatility, but also shows how far along crypto has advanced.
In a statement about the initiative, UNICEF Executive Director Henrietta Fore says, “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. That’s why the creation of our Cryptocurrency Fund is a significant and welcome step forward in humanitarian and development work.”
The first donation was reportedly already made by the Ethereum Foundation (EF) and will then be divided among three recipients, Atix Labs, Utopixar and Prescrypto. All three “work in the areas of prescription tracking, matching investors and those needing funding, and community tokens and engagement,” according to the UNICEF announcement. While UNICEF didn’t mention the amount, the French National Committee said on Twitter that the EF had sent 100 ETH, which would be worth around $18,200.
Aya Miyaguchi, EF’s executive director, said of the relationship with UNICEF, “The Ethereum Foundation is excited to demonstrate the power of what Ethereum and blockchain technology can do for communities around the world. Together with UNICEF, we’re taking action with the Cryptofund to improve access to basic needs, rights, and resources. We aim to support the research and development of the Ethereum platform, and to grow the community of those that benefit from a technology that will better countless lives and industries in the years to come. We’d like to thank UNICEF and the UNICEF family of national committees for their leadership as we create real progress together.”