Highlights:
- UNICEF, the UN’s flagship arm, has announced that it will open a cryptocurrency fund
- The fund will allow donation from anyone all over the world
- Will increase the transparency of the distribution
UNICEF recently declared in an announcement that it will now be able to receive, hold and disburse donations of cryptocurrencies ether and bitcoin, through its newly-established UNICEF Cryptocurrency Fund. This is the first time a major global organization such as the UNICEF, which received $15 billion in donations each year, has expressed their openness towards cryptocurrency.
Billing itself as the first UN organization to utilize crypto, Unicef says it will devote the digital asset donations to funding “open source technology benefiting children and young people around the world.”
“We don’t see the Crypto Fund so much as being crypto,” says Lomazzo, speaking from Unicef’s Office of Innovation in New York City. “What we really see it as is being ready for a digital future. We’re going to need to be ready to deal with digital assets whether that be bitcoin or ether or some other government-backed digital currency. It could be any of those, but this is really helping us build up the muscles to understand how to live or how to on-board digital assets.”
The committee that sat down to review the decision before finalizing expressed their appreciation for the Ethereum Enterprise Alliance, their appreciation for open-source technologies such as bitcoin and highlighted the potential for uniting the world through currencies.