According to a press release published on UNICEF official website on June 19, UNICEF Cryptocurrency Fund is set to fund eight tech businesses in developing nations.
UNICEF's Cryptocurrency Fund plans to invest 125 Ethereum in eight tech startups from seven nations around the globe. The funds will be used to scale and develop their technologies in six months. The participating companies have also received up to $10k innovation funds from CryptoFund.
The groundbreaking solutions offered by these companies brought them to the spotlight of UNICEF. One such innovation is that of Cireha, which builds an offline communication technology for speech-impaired children. Another one is Afinidata that provides educational contents for parents.
These companies are creating visionary technologies to solve problems, and UNICEF is set to facilitate them financially with fiat and crypto funding. UNICEF representative Chris Fabian revealed that the 125 ETH was transferred to all the companies under twenty minutes with less than $20 transfer fee.
Fabian confessed that UNICEF is excited about tools that provide fast payment solutions and 100% transparency for sponsors and donors. As an institution that ensures the wellbeing of children around the globe, UNICEF will continue to support tech business around the world with the help of blockchain technology in the future.
Source: Cointelegraph
