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Laxman Pai, Opalesque Asia: UNICEF, the United Nations Children's Fund, announced that it has launched a cryptocurrency fund and become the first United Nations organization to hold onto its crypto donations.
Without converting them into fiat, the fund will hold two cryptocurrencies - Bitcoin (BTC) and Ether (ETH) - and disburse them to support projects benefiting children worldwide.
According to the UN body, the new cryptocurrency fund is to support open-source technology "benefiting children and young people around the world."
UNICEF executive director Henrietta Fore said: "This is a new and exciting venture for UNICEF. If digital economies and currencies have the potential to shape the lives of the coming generations, we must explore the opportunities they offer. That's why the creation of our Cryptocurrency Fund is a significant and welcome step forward in humanitarian and development work."
The first contributions to the UNICEF Cryptocurrency Fund will be received from the Ethereum Foundation, a Swiss nonprofit organization, and will benefit three grantees of the UNICEF Innovation Fund - and a project coordinated by the GIGA initiative to connect schools across the world to the internet.
Aya Miyaguchi, Executive Director of the Ethereum Foundation said: "We aim to support the research and development of the Ethereum platform and to grow the community of those that benefit from a technology that will better countless lives and industries in ...................... To view our full article Click here
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