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Eight Companies Receive 125 ETH Fund from UNICEF

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Unicef

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Today, eight technology companies from seven different emerging markets will receive investments in Ethereum’s cryptocurrency from the UNICEF Cryptocurrency Fund.

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.

Eight companies receive 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.

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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.

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