United Nations agencies set up cryptocurrency funds, Ethereum official donated 10,000 ETH for its support

According to foreign media, UNICEF blockchain business leader Christina Lomazzo and her international team announced today the establishment of the UNICEF cryptocurrency fund, which enables the organization to accept bitcoin and Ethereum donations and Directly used in investment blockchain startups.

In addition to investing cryptocurrencies in early childhood-related open source companies, the fund also represents the first real acceptance of bitcoin and Ethereum donations by UN agencies.

It is reported that agencies of UNICEF USA, UNICEF France, UNICEF Australia and UNICEF New Zealand have signed agreements with the fund and immediately began accepting cryptocurrency donations.

In addition, according to Forbes , the Swiss-based Ethereum Foundation will donate 1 BTC and 10,000 ETH to the fund.

The fund will not convert the donation into legal currency and will be used directly for investment.

UNICEF France is the most mature of the four countries that have signed the agreement. As early as January 2018, UNICEF France Executive Director Sebastien Lyon began to explore Ethereum as a new way of accepting donations. According to the report, many individual donors said that they are interested in making donations only if the organization does not convert the donations into legal currency.

According to the last fund statement submitted today to UNICEF Executive Officer, these donations will not be converted into US dollars or any legal currency, but will be directly invested in the startup. It is reported that three companies will receive investment from the Foundation, of which Atix Laboratories in Argentina will receive 1 BTC, Mexico's Prescrypto will receive 50 ETH, and Utopixar in Tunisia will receive 50 ETH. To date, the Innovation Fund has provided financial support to 72 companies from 42 countries, six of which are blockchain startups.

Funds are not limited to accepting cryptocurrencies, but also support central bank digital currency

The United Nations, which received $15 billion in donations last year, has embarked on a new stage of development, seeing itself as a financial innovator and a distribution of aid, and accepting cryptocurrency donations can accurately track the use of donations, which becomes A new, more transparent institution paves the way.

Lomazzo said at the UNICEF Innovation Office in New York:

“This cryptocurrency fund is not limited to cryptocurrencies. What we really see is that it is preparing for the digital future. We need to be prepared to handle digital assets, whether it is Bitcoin, Ethereum or other government-backed Digital currency. This may be any of them, but it does help us understand and use digital assets."

Lomazzo

(left: Christina Lomazzo, head of the UNICEF blockchain business)

Lomazzo said:

“We are investigating a way for donors to see a flow of funds, so you don’t have to trust how the organization allocates your money, you can verify it yourself.”