The United Nations International Children's Emergency Fund (UNICEF), the non-profit organization catering for the needs of children in the United Nations, now allows donors to send in donations using Bitcoin or Ether.
Per a CNBC report on the development, UNICEF has set up a cryptocurrency fund that will store the donations while the organization will also distribute funding in the same form of cryptocurrency.
Excitingly, the Ethereum Foundation, which works to promote the Ethereum blockchain, was the first organization to donate to UNICEF's new crypto fund, albeit the amount of the donation was not disclosed.
The UNICEF reportedly plans to distribute the funds received from the Ethereum Foundation to three grantees of its Innovation Fund dedicated to promoting digital innovation by connecting schools around the world to the internet.
Commenting on the development, UNICEF Executive Director Henrietta Fore lauded their new Crypto Fund as a significant step and a way to explore the opportunities offered by digital economies.
Henrietta reportedly said in a press release,
“The creation of our Cryptocurrency Fund is a significant and welcome step forward in humanitarian and development work.”
The executive director of the Ethereum Foundation, Aya Miyaguchi, also shared similar thoughts and identified their donation as a way to illustrate the power of cryptocurrencies and blockchain technology.
She further noted that the move is a way to "grow the community of those that benefit from a technology that will better countless lives and industries in the years to come.”
In a similar report regarding the mainstream adoption of cryptocurrencies, we reported to Ukraine would soon legalize cryptocurrencies with one eye of taxing businesses in the emerging industry.