UNICEF Uses Ethereum To Fund Companies That Share Their GoalsScroll Down
On June 19, eight tech firms from seven emerging economies will receive investment funds of Ethereum from the UNICEF Cryptocurrency Fund. This investment has given each of the eight companies 125 of Ethereum coins. Each of these investments is worth about $28,600 as of closing time on June 19. The businesses receiving these investments have already benefited from up to $100,000 from the UNICEF Innovation Fund's deposits of fiat currency.
One of the companies is Afinidata. It offers educational content to parents who have young children. Another one of the beneficiaries, Cireha. It builds communication systems for kids who have speech or language impairments or disabilities. Those communication systems are for use in the real world, not for online use. All eight of the companies have a mission related to bettering the lives of children around the world. UNICEF is giving them some funds based on cryptocurrency in order to carry their missions forward.
According to UNICEF Ventures co-leader Chris Fabian, UNICEF is noticing that the digital world comes at kids more quickly than most adults could have imagined. UNICEF wants to use all of the tech tools in order to help kids around the world now and in the future. Transferring the funds to the eight companies in seven countries cost UNICEF just $20 and 20 minutes of time. In a near instant, the fees of less than 0.00009 percent of the investment value allowed them o transfer money around the world. The platform allowed them to make the transfers with transparency. This keeps their donors and supporters happy and confident that their donations to UNICEF are going to the right projects and places.
UNICEF is an organization that falls under the umbrella of the United Nations. Its aim is to protect the well-being of kids around the world. At the same time, it is working toward a good future for the kids. UNICEF distributes money to tech companies around the world in order to enhance its mission. The blockchain technology seems to fit well into its mission for the future. The emerging economies also benefit from the investments.