UNICEF Innovation Fund To Invest $100,000 USD For Developing Blockchain Projects.

UNICEF Innovation Fund To Invest $100,000 USD For Developing Blockchain Projects.

2018-12-12 | Selina Mathew

UNICEF Innovation Fund To Invest $100,000 USD For Developing Blockchain Projects.

In line with a recent announcement 'published', the UNICEF Innovation Fund is financing around $100,000 USD in six firms for developing blockchain projects.

The UNICEF Innovation Fund was launched specifically to finance emerging and open source technology which can profit youngsters. The fund identifies applications in technical areas like blockchain, machine learning, quantum computing, [AI] Artificial Intelligence, and others.

The recent announcement reads that the Fund can invest upto $100,000 USD in Argentinian software development firm named ‘Atix Labs’, Mexican tech firms ‘Onesmart’ and ‘Prescrypto’, Indian startup named ‘Statwig’, Tunisian apps development startup ‘Utopixar’, and net-web apps development firm ‘W3 Engineers’ from Bangladesh.

The companies can severally build prototypes and systems that aim to deal with international issues like transparency in health-care delivery, reasonable access to mobile communications, along with the ability to allot finances and resources in 'social initiatives'.

The newly declared firms can reportedly be part of twenty other tech startups, that are already beneath management by the Fund in fields like data science, drones, and VR [Virtual Reality].

As per the announcement, the investments are a part of UNICEF’s larger blockchain initiative for employing digital contracts for organisational potency, and efforts concerning and understanding DLT [distributed ledger technology].

Principal consultant at UNICEF’s Innovation, ‘Chris Fabian’ stated:

“Blockchain technology continues to be at an early stage — and there's a good deal of experimentation, failure, and learning prior to us as we see how, and where, we can use this technology to make a much better world,”

Earlier in April this year, UNICEF Australia declared its initiative that may enable the general public to use their computer’s power to mine cryptos as a donation to the charity. Tony Andres Tang, the digital brand and content manager of of UNICEF Australia, said that they “are clear within the reality they are borrowing a computer’s processing power, and offer the flexibility to decide how much power is to be donated.”

Even in Feb, UNICEF started a charity drive for Syrian youngsters, by asking gamers to donate their computers power to mine Ethereum [ETH] and gift their earnings. UNICEF added that it'd use the donated Ethereum [ETH] to gift youngsters access to clean water, education, and health and hygiene services.

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