UNICEF Australia to Raise Funds through Cryptocurrency MiningMay 1, 2018
UNICEF Australia has found a new way to raise funds – through cryptocurrency mining. The agency will use the browser-based cryptocurrency mining platform “The Hopepage” to mine cryptocurrencies that will be automatically donated to UNICEF Australia and turned into real funds by the organization. UNICEF Australia will use the funds to provide children with supplies such as therapeutic food, vaccines and safe water.
Cryptocurrency mining is not an entirely new concept and while it has been embroiled with controversies due to some unscrupulous individuals, UNICEF Australia has used it for the greater good. The Hopepage uses the processing power of a third-party’s computer to solve cryptocurrency algorithms. Users can choose how much processing power they want to donate to UNICEF Australia. The longer the cryptocurrency mining platform is open, the more processor power is contributed. More algorithms also get solved and more cryptocurrencies are earned.
Those who want to donate should visit the site and then click the “Start Donating” button. The Hopepage uses Coinhive to mine the cryptocurrency Monero, which is then deposited to UNICEF Australia’s wallet. Monero is currently the 12th biggest cryptocurrency in the world.
According to Jennifer Tierney, the fundraising and communications director of UNICEF Australia, they wanted to use new technologies to improve awareness about existing humanitarian predicaments and raise resources to support children involved in these problems. The platform allows Australians to provide hope and help to children by opening the platform when they’re online. According to UNICEF Australia, mining is safe for the computer and those who are concerned about power consumption can reduce the amount of processing power they are donating.
The mining operates per session and doesn’t start until the user chooses a percentage and then clicks the “Confirm” button. The maximum processing power they can allocate is 80%, while the minimum is 20%. The mining continues for as long as the user keeps the page open.
The Hopepage currently supports UNICEF Australia’s efforts to help those who are caught up in the Rohingya crunch. All funds raised through the platform will be used to give supplies to Rohingya children who escaped from Myanmar and are now residing in refugee camps in Bangladesh.
Cryptocurrency mining consumes a lot of power, which translates to higher electricity bills. Individuals can decide how much computing power they donate to The HopePage. The cost is not tax deductible, so they can decide which option is best for them. They can either open their wallet and donate cash or reduce the amount of processing power they are donating.