Worldwide charity UNICEF launches a cryptocurrency fund

Rajan Dhall, MSTA FX Daily

The United Nations Children's Fund (UNICEF) has just started a new UNICEF Cryptocurrency Fund that lets the UN Children's agency to receive, hold and disburse donations in cryptocurrencies such as Bitcoin (BTC) and ether (ETC).

To be honest, why would you not. General fiat money is very corrupt and if donors want to make sure the correct money goes to the correct place then Bitcoin or Ethereum could be the Answer.

According to RTT, the initial contribution to the fund of reportedly 100 ethers was received from non-profit Ethereum Foundation through the French National Committee for UNICEF. This move will also enable exchanges or crypto firms to donate directly.

Unicef will reportedly use the money to improve technology in deprived areas. It has been said that some funding will go to a project coordinated by the GIGA initiative to connect schools across the world to the Internet.

This is not the first move into cryptocurrencies by a charity. Australia has tapped into cryptocurrency mining to raise funds for the refugee children in Bangladesh using an application by Coinhive, which mines Monero.

Who said that cryptocurrencies were only used for illicit purposes? What a great way to spread the love and I truly believe it will give access to more donations as more people increase their personal wealth through cryptocurrencies.

Author

Rajan Dhall, MSTA

FX Daily

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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