UNICEF ICO: Crypto To The Rescue

unicef ico

Token sale events, also known as Initial Coin Offerings (ICOs), are getting positive words of approval from one of the unlikeliest of sources: the United Nations International Children Emergency Fund (UNICEF), the U.N. program created to provide help and emergency assistance to children all over the world.

The idea of a UNICEF ICO seems like a welcome one, especially given their humanitarian mission.

This was recently revealed in an exclusive interview with CoinDesk, with UNICEF clearly stating this week that it would be open to exploring different ways to issue and utilize custom cryptocurrencies, either to back up its humanitarian mission or to make the goals of its partners, much more realizable.

While it might seem unimaginable that a global “brand” like UNICEF would be planning such a daring move, it is – as a matter of fact – in line with the organization’s vision to be a force to reckon with in blockchain technology.

A lot of commendable efforts have been made by UNICEF to fully embrace blockchain technology, with focus on investing in a number of blockchain startups.

Noteworthy is the recent investment in 9Needs, a South Africa-based blockchain startup (among four others).

9Needs is a company that utilizes blockchain technology to develop identity tools for early childhood education.

This is consistent with UNICEF’s mandate to provide education for young children.

The limit of UNICEF’s investments currently stand at $100,000, with up to $12.6 million raised through a few partners, among which are the governments of Denmark and Finland, and Disney. However, this is set to change very soon; according to Chris Fabian, Head of UNICEF’s Office of Innovation Ventures, UNICEF is in the latter stages of a recruiting process for like-minded blockchain startups.

Up to 10 such startups are on track to receive a huge investment in the region of $1 million, raising the bar on the maximum amount invested in startups by UNICEF.

Fabian told CoinDesk:

[perfectpullquote align=”full” cite=”” link=”” color=”” class=”” size=””]”If we are in a place to look at designing our own token, look at others to help design theirs in a way that we can be a part of, and potentially also have a crypto-denominated investment fund, those would all be things that would be on our roadmap for the near future.”[/perfectpullquote]

Sai Pinnamaneni is Co-Founder of Smartereum. He is a Sharepoint Architect with over 15 years of experience. Entrepreneur | Software Architect | Vegan | Proud Dad


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