Ethereum Foundation In a Way to Support the UNICEF Crypto Fund InnovationJune 21, 2020
The UNICEF innovation is an interdisciplinary team that has been asked in identifying, prototyping and scaling technologies and it practices to strengthen its work for children.
Ethereum tweeted: “The Ethereum Foundation is thrilled to support UNICEFinnovate, the UNICEF Crypto Fund, and each of these new recipients.”
Of note, the UNICEF innovate have made 8 new investments using the cryptocurrency through the Unicef Crypto Fund.
For over four years now, the UNICEF Innovation have been exploring innovative methods to support founders, which also includes the process of launching cryptocurrency denominated fund during October 2019. Also, they have been making innovations in open-source startups through their venture fund and the end goal is to make it possible to support digital public goods which will be able to make the world a better place.
The UNICEF office of innovation, have announced that about eight more investments have been made via the UNICEF’s CryptoFund, and that more of applications are open from blockchain companies to apply for the USD and crypto funding through its Venture Fund. This is indeed a new and exciting opportunity for the start up.
Sydney Ifergan, the crypto expert tweeted: “It is exciting to see Ethereum (ETH) supporting the UNICEF a global organization of huge prestige and morality in the process of a crypto fund.”
Chris Fabian tweeted: “Read more about yesterday’s @unicef transfer of ~220,000$ worth of cryptocurrency (Eth #ethereum) through @UNICEFinnovate’s crypto fund, to 8 startups building open source technology to help advance humanity here” further directing to a press release.”
Aya Miyaguchi, Educator and ED at Ethereum Foundation, expressed that this is a big milestone for them in the cryptocurrency space, called it the largest crypto transaction (ETH) in the public sector, particularly for an international organization like the UN.
Some of the awardees were companies who were expanding their work to make use of their technologies to help mitigate the hardships associated with COVID19 on the children and the youth.
They expect to do a lot in terms of dealing with the dignity of millions of displaced children making it possible to provide them with the much needed access to basic supplies for living.
Displaced people need lot of help and particularly during the pandemic, it is not possible for them to afford any kind of medical help to fight life-threatening illnesses. Ethereum foundation being able to contribute to technology to further the critical requirements is one of the promises facilitated by the innovation of the blockchain technology.