It has been a few months since UNICEF published a “Blockchain call” to startups to the benefit of humanity. Now UNICEF (United Nations International Children’s Emergency Fund) has moved swiftly to invest in six blockchain startups to facilitate its humanitarian investment venture.
In January this year, UNICEF made a call for early-stage startups registered in one of the organization’s programme countries. It received more than 100 applications from about 50 different countries. Now the organization has 20 technology firms in its Innovation Fund, all invested in “virtual reality and data science to machine learning, and drones.”
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New Investments Will Form a Broader Blockchain Initiative for UNICEF
According to UNICEF, the new investments will form part of its broader Blockchain strategy. The humanitarian agency declared that:
“With the help of smart-contracts for organizational efficiency, creating a distributed system for decision-making processes, and looking for ways to build knowledge as well as understanding the distributed ledger technology in the United Nations and countries where UNICEF works.”
UNICEF announced today that it’s innovation fund will invest about $100,000 in Atix labs, Prescryto, Statwig, Onesmart, W3 Engineers and Utopixar.
Blockchain Solutions Will be Delivered Next Year
Two of the startups to be funded by UNICEF are headquartered in Mexico. The whole startups now have to deliver open-source prototypes of their own blockchain applications in the next 12 months. One of the startups Atix Labs is based in Argentina. The company is building a forum for small to medium-size businesses to gain access to funding in a way that will offer traceability regarding how the funds are utilized. Utopixar is going to build a social tool to facilitate decision-making local communities and other organizations.
Onesmart is developing an app that will ensure the deployment of state-offered social services, in a bid to address the issue of the misuse of social funds in growing markets. Prescrypto, is looking to improve the availability of electrical prescriptions by creating a platform for the medical history of patients. Statwig is building a blockchain solution for the country’s supply-chain management for vaccines to improve vaccine delivery efficiency. W3 Engineers are looking to link migrant and refugee communities via an offline mobile platform that won’t require a sim card or reliable internet connection.
The Principal Adviser at UNICEF, Chris Fabian, said:
“Blockchain technology is still in the early stages, and there’s been a lot of experimentation, failure, and learning as we see how, and where, this technology can be used to make the world a better place.”
The Fund decides to invest in firms with its technical and financing support in regions where there are “vulnerable” populations to facilitate technological “growth in a fair and equitable way.”
Product and Growth Assistance Will be Provided
UNICEF’s Innovation Fund will provide growth and product assistance as well as full access to its global network of partners and experts. In addition to UNICEF’s seed-stage investment, the humanitarian agency will assist startups with the second-round investment garnering. If the technologies develop turn out successful, there is more opportunity to implement them in the entire 190 countries UNICEF covers.
Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.
