The United Nations Children Fund (UNICEF) have announced their new cryptocurrency fund. This will make it easier for donors to send donations and not have to incorporate fees associated with sending funds abroad. According to UNICEF, the reasoning behind the new initiative is to ” fund open source technology benefiting children and young people around the world.”
By using cryptocurrencies, non-profit organisations can benefit greatly, as they will not be exposed to large transaction fees that currently exist for such transactions. The Ethereum Foundation is the first major name that will be making their contribution through the French National Committee.
Although the adoption of cryptocurrencies has been slow, as the benefits of crypto is seen worldwide, especially in real-world cases that can make a global difference, associated friction should start to ease.
“If digital economies and currencies have the potential to shape the lives of coming generations, it is important that we explore the opportunities they offer” explained Henrietta Fore, UNICEF Executive Director.
Image c/o UNICEF