Skip to main content

UNICEF rolls out massive Crypto Fund investment on tech firms



The UNICEF Cryptocurrency Fund recently announced an open call for tech companies to formally apply for a $100,000 grant for cryptocurrency funding projects.

Since the announcement, the organization has pledged to give 8 technology firms from different countries an investment of Ethereum cryptocurrency.

The crypto-based investment of the organization will offer these companies 125 ETH ($28,000) each. 

Based on the announcement, the funding will be utilized in improving or expanding their respective technologies for the next six months. 

UNICEF Innovation Fund had already given the awardees benefiting from this investment a package about $100,000 for their respective projects.

One of the beneficiary company, Cireha, designs communication methodology for children with language or speech disabilities to benefit them in the real world.

Another company, Afinidata, provides educational materials and contents to help parents teach their young children at home.

Additional incentives included

Apart from the funding, UNICEF plans to give open-source access, technical assistance, business growth products, and mentorship to the awardees. 

The organization will also allow them the opportunity to showcase their business models.

UNICEF says it’s selecting these companies because their mission coincides with the organization’s goals of educational empowerment, especially among the younger generation. It is also supporting them with some cryptocurrency incentives to spur their passion a bit further and help them achieve the desired goals.

In a statement credited to Chris Fabian, co-lead of UNICEF Ventures, “we are seeing the digital world come at us more quickly than we could have imagined”.

He further stated that in line with this rapid development, UNICEF desires to help children now and in the future.

Transfer already made to eight firms

It didn’t take much time to transfer these funds to 8 firms from seven different countries around the world. 

UNICEF stated that it costs the organization about $20 and less than 20 minutes to complete these transfers. 

With this speedy approach, it’s real-time transparency for UNICEF supporters and donors.

UNICEF has always strived to maintain its goal of helping children all over the world by working for a better future. It says this recent development is in line with such a goal. 

The organization seems to have embraced blockchain technology, as it distributes cryptocurrency to tech companies around the world.

UNICEF stated that with the current stagnant global business environment, open-source solutions that address important needs of the society are now more vital than ever.

Source: invezz.com

Comments

Contact us

Name

Email *

Message *

Popular posts from this blog

Cryptocurrencies Adding to the Safety and Security in the UK Gambling Industry

These are exciting times for the UK gambling industry. The impact of internet technology is now being felt with online gambling now controlling the industry.  The adoption of cutting-edge technology is reasonable for the boom in the industry. From live casinos, mobile apps to artificial intelligence, incredible trends continue shaping the gambling industry. However, it is the rise of cryptocurrency casinos that seeks to redefine UK gambling.  Many operators now include crypto coins such as bitcoin, Ethereum and Litecoin as part of their banking methods. Others offer exclusive bitcoin payments and promotions based on digital tokens. This revolutionary trend has a huge impact due to enhanced safety and security on these platforms. Players looking for peace of mind when playing online now opt to use cryptocurrencies. This post looks at how cryptos guarantee the safety and security of players at online casinos. How Cryptocurrency Gambling Works There’s a lot of talk about cryptocurrency,

Will Solana (SOL) Be the Shining Star of the Bull Market?

About 250,000 to 700,000 SOL have been sold daily by FTX for the last three weeks. SOL’s price jumped above $60, as GSOL’s premium also increased. While the price may retrace, it may not take long before SOL hits $70. Despite being a notable casualty of the FTX contagion in 2022, Solana (SOL) has defied all odds in 2023, as the price continues to outshine its peers. In the last 30 days, the value of SOL has increased by 180%, rising as high as $62 on November 11. However, the rising price of SOL is not the only interesting thing the token has shown by the token. For a token that was once described as dead, it has shown tremendous strength. Coin Edition came to this conclusion because of a post by trader Bluntz Capital. The Big Players Are Here According to Bluntz, FTX, after getting the go-ahead to liquidate its assets, has been selling around 250,000 to 700,000 daily for the last three weeks. Regardless of the sales, SOL has failed to nosedive. Rather, the price has chosen the upside

Terra Classic Community Passes Major Constructive Proposal, LUNC And USTC To $1?

  The Terra Luna Classic community has passed another key proposal as they prepare for a revival of Terra Luna Classic (LUNC) and repeg USTC stablecoin to $1.  The proposal aimed at having a guideline for a pay-per-job approach on the Terra Classic chain as core developer L1TF goes into maintenance mode for Q4. Meanwhile, the community is also collaborating on other fronts to keep LUNC and USTC above key support levels as traders started booking profits amid the latest pullback in the crypto market. Terra Luna Classic Passes Pay Per Job Proposal Proposal 11889 “Pay-per-job and governance-ruled Job List” has passed successfully. The proposal deemed the monthly model of roadmap and payment planning as suboptimal and plans to switch to a pay-per-job model. The proposal has received 91.99% “Yes” votes, with others mostly voting “Abstain”. The community believes it will optimize compensation structure, provide flexibility and transparency, boost community engagement, and risk mitigation. A