UNICEF reveals crypto fund supported by Ethereum Foundation

Wednesday 9 October 2019 00:43 CET | News

The United Nations Children`s Fund (UNICEF) has launched a cryptocurrency fund to support open source tech to benefit ‘children and young people around the world’.

As such, UNICEF became the first U.N. organisation that holds and makes transactions in cryptocurrency, more precisely in Bitcoin (BTC) and Ether (ETH). Moreover, a nonprofit organisation called the Ethereum Foundation became the first contributor to the new cryptocurrency fund. Representatives of the Foundation reportedly said that 100 Ethers — roughly USD 18,000 — were already sent to the UNICEF via the new partnership.

The aim of these funds is to benefit three grantees of the UNICEF Innovation Fund, as well as ‘a project coordinated by the GIGA initiative to connect schools across the world to the internet’. The desire is to support the research and development of the Ethereum platform, and to grow the community of those that benefit from the technology.

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Keywords: Unicef, launch, cryptocurrency, Ethereum, Bitcoin, funds, nonprofit, partnership, Ethereum Foundation
Countries: World