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Unicef launches cryptocurrrency fund

Unicef launches cryptocurrrency fund

The United Nations' children's agency, Unicef, has set up a cryptocurrency fund, enabling it to receive, hold and disburse donations in ether and bitcoin.

Under the fund's structure, contributions will be held in the cryptocurrency they are made in and granted out in the same form.

The fund will be used to back open source technology benefiting young people, with the first contributions being made by the Ethereum Foundation, supporting three grantees of the Unicef Innovation Fund and a project to connect schools to the internet.

Henrietta Fore, executive director, Unicef, says: "If digital economies and currencies have the potential to shape the lives of coming generations, it is important that we explore the opportunities they offer.

"That’s why the creation of our Cryptocurrency Fund is a significant and welcome step forward in humanitarian and development work."

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