Largest-Ever Investment Made by UNICEF Crypto Fund

As it stands now, seven different emergent companies will see a collective of eight technology firms received an investment. This investment will come by way of the UNICEF Cryptocurrency fund, which will pay them in Ethereum.

125 ETH Dedicated To Child Development

The crypto-enabled investment vehicle of UNICEF will see that these companies will receive an investment of 125 ETH, which is currently valued at about $28,600. The companies will be able to use this investment in the process of prototyping or scaling their technologies for the next six months. Alongside this Ether investment, the companies that received this investment will receive as much as $100,000 in fiat currency as well, getting this from the Innovation Fund of UNICEF.

Afinidata stands as one such company. It strives to offer educational content to parents with young children. Cireha, another such company, prioritizes the development of communications systems that could be used by children that have language or speech impairments. Particularly, systems that would allow for offline use. UNICEF has now added its weight to these companies that have dedicated themselves to a mission, with some crypto-enabled momentum added along with it. With any luck, these firms will be capable of going far with the support of these funds.

New Digital Age Coming

Chris Fabian, the co-lead of UNICEF Ventures, gave a statement about the matter as a whole. He explained that the digital world is developing far faster than anyone could have imagined, and UNICEF must use all the tools available with these new innovations to help the children of today, as well as tomorrow.

He explained that they managed to transfer the Ether to these companies, totaling in eight companies across seven countries, in less than 20 minutes. The transfer cost for this was as little as $20. Fabian highlighted the fact that they managed to make a fast movement of value across the globe, and doing so for less than 0.00009% of the value of the transaction itself. Alongside this, Fabian highlighted the real-time transparency when it comes to the donors and supporters of these tools, which Fabian is especially excited for

Keeping Children Prioritized

UNICEF stands as an organization of the United Nations, dedicated to the protection of children’s wellbeing across the globe. Alongside this, the group is dedicated to innovating for a better future. The organization itself distributes money to various tech companies across the world, and it should be noted at how perfectly blockchain technology fits within these plans.

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      A journalist, with experience in web journalism and marketing. Ali holds a master's degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.