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News18 » Tech
1-min read

UNICEF Launches Cryptocurrency Fund, Will Accept Donations Through Bitcoin and Ether

UNICEF joins a number of aid agencies that accept donations in cryptocurrencies, including the American Red Cross and the UN World Food Programme

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Updated:October 10, 2019, 2:28 PM IST
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China's Internet Finance Body Urges Members Not to Deal in Cryptocurrencies (Photo: REUTERS)
UNICEF joins a number of aid agencies that accept donations in cryptocurrencies, including the American Red Cross and the UN World Food Programme

The Children’s agency of the United Nations, known as UNICEF, has now become the first UN organization to hold and make transactions in cryptocurrency. The UN Children’s agency has established UNICEF Cryptocurrency Fund, making UNICEF able to receive, hold and disburse donations via cryptocurrencies.

UNICEF joins a number of aid agencies that accept donations in cryptocurrencies, including the American Red Cross and the UN World Food Programme. Henrietta Fore, UNICEF Executive Director, said in an official statement, “This is a new and exciting venture for UNICEF. 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 Ethereum Foundation will make its initial donation through the French National Committee for UNICEF. You can also donate cryptocurrency to UNICEF branches in the U.S., Australia, and New Zealand.

It is to be noted that the Ethereum Foundation will provide first contributions to the UNICEF Cryptocurrency Fund. The new initiative will benefit three grantees of the UNICEF Innovation Fund. “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,” said Aya Miyaguchi.

Executive Director of the Ethereum Foundation, Aya added, “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.”

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