The United Nations Children’s Fund (UNICEF), has a cryptocurrency fund, and it will be donating 125 Ethereum to eight companies from seven countries to help them solve problems.
The companies are as follows, according to a release from the group:
- OS City
These groups have also received $100,000 each from the group’s Innovation Fund, and this cryptocurrency investment is simply additional.
Many of these companies are looking to solve COVID-related problems as well. They’re working with governments and other important parties to do just that, sending food to families in need, assisting in children’s learning, and more.
Speaking on the matter is Chris Fabian, the Senior Adviser at UNICEF Ventures, who had said:
“We are seeing the digital world come at us more quickly than we could have imagined – and UNICEF must be able to use all of the tools of this new world to help children today and tomorrow. The transfer of these funds – to eight companies in seven countries around the world – took less than 20 minutes and cost us less than $20. Almost instant global movement of value, fees of less than 0.00009% of the total amount transferred, and real-time transparency for our donors and supporters are the types of tools we are excited about.”