UNICEF Turns To Cryptocurrencies In Post-CoVid-19 World

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UNICEF Turns To Cryptocurrencies In Post-CoVid-19 World

Photo depicts children using their tablet to learn in a village on the outskirts of Kassala in Eastern Sudan: UNICEF


In its 73-year continuous effort to help disadvantaged children in some of the world's toughest places, UNICEF has relied solely on governmental and private contributions. Recently, youth climate activist Greta Thunberg donated to UNICEF a $100,000 prize from an award she received, in order to assist children that are fighting against the adversities caused by the pandemic.

Last October, UNICEF launched an official Cryptocurrency Fund, which allows the acceptance and distribution of donations via cryptocurrencies such as Bitcoin and Etherium. UNICEF is the first among United Nations organizations that uses cryptocurrencies with an aim to benefit children and young people around the world.


More recently, UNICEF announced the investment of 1000 Ether (worth approximately $320,000 as of now) in 8 technology start-up companies from Guatemala, India, Argentina, Turkey, Mexico, Cambodia and Chile. Utilizing technological advancements, these companies are working to mitigate the hardships of CoVid-19 on children and adolescents.


Indicatively, the technologies offered by these companies will allow the effective rice delivery to more than 250,000 people in vulnerable communities, the improvement in children's literacy through remote learning, enhanced parenting support, as well as the treatment of pandemic-related psychological trauma and anxiety.


Benefits of cryptocurrency:
"We are seeing the digital world come at us more quickly than we could have imagined – and UNICEF must be able to use all of the tools of this new world to help children today and tomorrow," said Chris Fabian, Senior Adviser, co-Lead, UNICEF Ventures.


"The transfer of these funds – to eight companies in seven countries around the world – took less than 20 minutes and cost us less than $20. Almost instant global movement of value, fees of less than 0.00009% of the total amount transferred, and real-time transparency for our donors and supporters are the types of tools we are excited about."


Cryptocurrencies are more than digital money. Being an advanced form of currency, they contain inside their code not only their exchange value but also information. In other words, donors now gain unprecedented access to 100% financial transparency, knowing exactly where and when their donation was distributed. UNICEF hopes this initiative will potentially attract more contributors.


It is a sign of moving-forward optimism that a high-impact global institution like UNICEF joins the increasingly active utilization of blockchain technology and cryptocurencies for humanitarian and environmental activism. Gretta Thunberg would most likely appreciate this recent UNICEF endeavor, similar to relevant news that a vegan blockchain company bought 15,000 acres of Amazon Rainforest for preservation.


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Thinking Humanity: UNICEF Turns To Cryptocurrencies In Post-CoVid-19 World
UNICEF Turns To Cryptocurrencies In Post-CoVid-19 World
In its 73-year continuous effort to help disadvantaged children in some of the world's toughest places, UNICEF has relied solely on governmental and private contributions. Recently, youth climate activist Greta Thunberg donated to UNICEF a $100,000 prize from an award she received, in order to assist children that are fighting against the adversities caused by the pandemic. Last October, UNICEF launched an official Cryptocurrency Fund, which allows the acceptance and distribution of donations via cryptocurrencies such as Bitcoin and Etherium.
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