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Friday, October 22, 2021

UN Children’s Fund starts accepting donations in Bitcoin and Ethereum

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Those who wish to support UNICEF’s activities in support of children in the world today can do so not only by putting their own wallets, but also by the wallet. The United Nations Children’s Fund in fact accepts donations made in cryptocurrencies: it starts with the best known and used ones, namely Bitcoin and Ethereum.

Ethereum and Bitcoin crypto for UNICEF

Given the volatility that has always characterized the value of virtual currencies, UNICEF has established that the sums thus received will be allocated to projects implemented as quickly as possible, such as the purchase of medicines, protections to combat the spread of diseases or to send of water and food in the most needy territories. In this way there is no risk of a devaluation of the figure in the medium-long term with easily imaginable consequences.

The blockchains at the base of Bitcoin and Ethereum will also allow those who make donations to monitor which initiatives the funds will be allocated, through what we could call a sort of traceability. The principle is the same that could one day not too far away make DLT (Distributed Ledger Technology) useful in production and industry for example to certify the origin of raw materials in the foodtextile and automotive industries as well as for the fight against drugs counterfeit.

Among those who first chose to accept the invitation is the Ethereum Foundation which contributed by paying 100 ETH: at the time of writing and publishing this article they amount to around 17,500 euros. It will be used to finance, among others, the UNICEF GIGA project which intends to provide Internet connection in all schools around the world.

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