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UNICEF’s virtual asset fund is on the lookout for blockchain based startups from developing realms that challenge coronavirus and humanitarian challenges.
As per an investment advisor at UNICEF Ventures, Cecilia Chapiro, UNICEF recognized blockchain as one of the technologies that could make a worldwide impression. UNICEF invested one hundred thousand USD of equity-free funding through its innovation fund a year and a half ago into 6 startups. Notably, 3 of the invested startups were related to blockchain.
To further comprehend the overall effect of blockchain technology, UNICEF initiated a digital asset fund assisted by the Ethereum Foundation in the month of October, last year. On 20th June, UNICEF’s cryptocurrency fund made its prime cryptocurrency investment to date, worth one hundred and twenty- five ETH. The investment was worth approximately thirty thousand USD at the time and was made in 8 open-source technology establishments.
Subsequent to the funding round, UNICEF declared that it will finance one hundred thousand USD worth of both United States dollars and digital currency in blockchain-based startups that make use of open-source tech for fighting worldwide challenges, particularly those associated with the coronavirus epidemic.
Over the last 4 years, the United Nations International Children’s Fund has been financing several startups that make use of open-source, with the objective to make the world a healthier place. However, UNICEF seems determined to step up its game even more now.
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