UNICEF wants to generate funds through Cryptocurrency Mining

UNICEF wants to generate funds through Cryptocurrency Mining

In what appears to be a new way humanitarian organizations can generate funds to help alleviate the sufferings of the less privileged, the United Nations Children’s Fund (UNICEF) is exploring ways to use its vast supporter’s computer systems to raise funds through cryptocurrency mining.

For this reason, the organization has launched “The Hope Page” a website where visitors can help mine cryptocurrency using their computers processing power. UNICEF described in a local news outlet the website allows people living in Australia to assist the organization raise needed funds by simply opening the page while they are online. In line with what UNICEF described, the computer user can choose how much computational power they want to provide to the cryptocurrency mining process.

Examination of the website’s source code indicates that it is powered by Authedmine, an optional version of the Coinhive API which is used to mine cryptocurrency, particularly Monero within a browser. This type of mining process does not require extensive mining equipment as all the mining algorithm is conducted online. Any cryptocurrency mind is converted into fiat and donated to UNICEF’s account to fund its activities which are to help vulnerable children worldwide with life-saving supplies such as safe drinking water, food, and vaccines. As long as a computer user stays on The Hope Page and the more computer processing resources committed to the process, the mining algorithm gets solved and earns cryptocurrency. UNICEF disclosed.

In accordance with international confidentiality practice whereby individuals show concern for the possibility of their privacy being violated, UNICEF stated that “We are transparent in the fact we are borrowing a computers’ processing power, and provide the ability to choose how much power is donated,” the non-profit organization also declared that the donation is a one-time session and that the user would approve all actions being taken anytime they visit the site.

As a result of the multiple application of blockchain technology, many organizations are increasingly turning to this innovative technology to solve problems. For this reason, another United Nations Non-profit organization -the United Nations World Food Programme (UN WFP) revealed that it is utilizing blockchain technology as part of its “Zero Hunger initiative” to address food security and hunger in Tunisia. The UN WFP is one of the world’s largest humanitarian organizations with the aim of eradicating hunger globally.

Solomon Sunny is the market reporter for Smartereum, one of the global leaders in Ethereum, blockchain and currency news. He produces technical price updates on digital currencies and writes recent developments about blockchain.


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