The UNICEF is investing in five crypto startups via Ethereum (ETH)
What does UNICEF have to do with Ethereum? The United Nations Children’s Fund (UNICEF) is launching a partnership with five crypto startups to help fund their projects through the Ethereum blockchain. UNICEF has launched a new venture capital division to invest in companies that can align with its humanitarian mission and help it reach far-flung children in need.
The United Nations Children’s Fund (UNICEF) has partnered with a number of startups and organizations to invest in cryptocurrency startups via investments made in Ethereum (ETH) at the Blockchain Connect Conference 2018. UNICEF partnered with five startups to invest up to $50,000 in Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Stellar (XLM) and Bitcoin Cash (BCH) in exchange for a stake in the startups.
This week, the United Nations Children’s Fund (UNICEF) announced that they will use the Ethereum (ETH) blockchain to invest in five startups that are looking to solve critical problems in the areas of humanitarian aid, innovation, and technology. The startups will use the Ethereum (ETH) blockchain to help improve, track, and distribute aid to people in need.
The venture capital arm of the United Nations Children’s Fund (UNICEF), a global organization that provides humanitarian and development assistance to children around the world, today announced its latest investment round, as …
Investing in Ethereum
The beneficiaries are seven technology companies in six countries, including Argentina, Kenya, India, Mexico, Rwanda and Nepal. Each company will receive up to $100,000 in seed money, with five companies choosing to receive a portion of that amount in Ethereum. Supporting women-owned businesses is a smart investment and more important than ever as we ramp up our efforts to support underrepresented communities. We are very pleased that this new investment cohort is a strong group of companies, most of which are led by women, said Sunita Groth, manager of the UNICEF Venture Programme. She added: COVID-19 affects children and their communities, and many people around the world will continue to face severe disabilities throughout their lives. We recognise the importance of inclusive and accessible digital solutions, including those that open up access to financial systems and services. Digital public goods are needed to meet the challenges children face today. UNICEF supports start-ups that develop and test new open-source solutions and use cutting-edge technologies. Most of the start-ups are developing pathways to financial inclusion – decentralized decision support, loan and investment services for underserved communities, and community-based remittances and currencies – which is particularly important given COVID-19’s economic distress and its worsening impact on education, social protection, and health care.
Who gets what and where?
The UNICEF Venture Fund invests in the following companies, five of which are run by women: Xcapit, an Argentinian company, is developing a fun savings app. Their solution allows low- and middle-income families to improve their economic situation by easily accessing financial services. Somish Blockchain Labs, an India-based company, is working on a decentralized management protocol with a flexible toolkit for management models for decentralized applications (dApps). A product called GovBlocks essentially creates decision-making structures for decentralized autonomous organizations (DAOs) and allows you to explore how communities can be involved in decision-making. They are one of five women-led startups in this cohort. Mexican company BX Smart Labs is developing a decentralized knee-saving app. Savings circles, formed by small groups of family, friends, or neighbors, are common around the world and allow people to borrow and save money even if they don’t have access to traditional bank accounts and credit cards. They are one of five women-led startups in this cohort. Leaf Global Fintech, based in Rwanda, is developing a platform for loans and a virtual bank. They are working on a low-tech solution to give people without internet access new ways to connect to banks and other barriers. More than 6,000 transactions have already been processed through the platform. They are one of five women-led startups in this cohort. Nepal-based Rumsan is developing a digital cash assistance and voucher management (CVA) system that uses blockchain tokens on mobile devices to enable faster transfer of funds to beneficiaries, even in the most inaccessible areas. They are one of five women-led startups in this cohort. Grassroots Economics, based in Kenya, is developing a digital token platform. It is a pan-African open-source platform for emergency response and recovery that allows aid workers and vulnerable communities to digitally receive payments, create and exchange digital tokens, remotely track key performance indicators, and access risk reports. KotaniPay, another Kenya-based company, is developing a platform for money transfers, savings, withdrawals, loans and payments. It acts as a frictionless bridge between cryptocurrencies and fiat currencies, with users accessing the blockchain via USD.
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The United Nations Children’s Fund (UNICEF), a UN agency focused on children’s rights, has announced a new partnership with Ethereum (ETH) to facilitate the transfer of money to humanitarian organizations.. Read more about blockchain crypto and let us know what you think.
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