With UNICEF’s cryptocurrency investment tool, these companies received 125 ETH worth around $28,600 to expand their respective technologies or prototypes within the next six months. Companies receiving this investment have already received up to $100,000 in fiat currency from UNICEF’s Innovation Fund.
One such company, Afinidata, offers educational content to young parents. Another company, Cireha builds a communication system for children with speech or language difficulties in the offline world.
These are mission-conscious companies, and UNICEF is giving them some incentives to help cryptocurrencies advance this mission.
Chris Fabian, Co-Director of UNICEF Ventures, 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.”
UNICEF is a United Nations organization dedicated to protecting the well-being of children around the world. It is, therefore, striving for a better future. As the organization provides funds to technology companies around the world, it should be noted that blockchain technology appears to fit their future plans.