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UNICEF to Invest $ 100,000 in Human-Focused Blockchain Projects

UNICEF's crypto fund is looking for COVID-19 from developing countries and blockchain initiatives that tackle humanitarian challenges.

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UNICEF to Invest $ 100,000 in Human-Focused Blockchain Projects

In the past four years, the United Nations International Children’s Fund has been investing in open-source technology initiatives, hoping to make the world a better place, but now wants to expand its support further.

Innovation Fund

Cecilia Chapiro, investment advisor to UNICEF Ventures, said that UNICEF launched its innovation fund in 2016 to support technologies that are built and developing in developing countries. Since then, UNICEF has invested in more than 50 new businesses in 35 countries. “We invest in technologies that have the potential to affect billions of people, especially children in developing countries,” says Chapiro.

According to Chapiro, UNICEF has identified blockchain as one of the technologies that can make a global impact. For this reason, UNICEF invested $ 100,000 in six enterprises a year and a half ago through six initiatives, three of which focused on the blockchain.

To better understand the impact of blockchain technology, UNICEF launched a cryptocurrency fund backed by the Ethereum Foundation in October 2019. Chapiro announced that the crypto fund is based on the same framework as the innovation fund.

Chapiro also uses the following statements regarding the issue:

“UNICEF’s innovation fund allows companies to participate in a one-year portfolio experience. We provide non-financial benefits with the investment. We are looking for companies with a prototype that can be examined and strengthened to benefit a large number of users. We support companies in a variety of ways and help them prepare to speak to additional investors after the one-year program ends. ”

Blockchain: An Opportunity for Human Growth

On June 20, UNICEF’s crypto fund made its largest crypto investment to date, at eight open source technology companies, at 125 ETH – then around $ 28,600. Immediately after this round of financing, UNICEF announced that it would provide blockchain initiatives worth $ 100,000 to tackle global challenges to tackle global challenges, particularly in relation to the COVID-19 outbreak.

Chapiro, who has helped launch UNICEF’s crypto initiative, has announced that the fund is making serious investments in the organization’s blockchain initiatives.

Startup Initiatives Supported

According to Chapiro, UNICEF aims to support startups with a blockchain prototype that can be converted and finally deployed in countries that need technology the most. For example, during the last round of financing, UNICEF invested in StaTwig, an Indian-based company that uses a blockchain to track the rice supply chain delivered to the low-income regions from the Indian government.StaTwig’s founder and CEO, Sid Chakravarthy, said that India is using a Public Distribution System to distribute essential goods to people living under the poverty line. Chakravarthy said that each state in India operates its own PDS and COVID-19 creates an even higher demand for PDS products.

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