Charity is a multi-billion-dollar business. On the other hand, great part of the world is struggling and that is no news. Charity foundations link the two together. Some of them do fantastic jobs in pooling fellow citizens out of poverty. Introducing cryptos and blockchain to charity work has a strong influence on how funds allocate. Unicef is embracing Bitcoin, allowing for donations in cryptos. This is great news. If there is a category that is truly endangered, it’s children worldwide.
The Project
Ms. Christina Lomazzo who is running the blockchain team at UNICEF has reportedly announced that they had developed a prototype allowing for the acceptance of Bitcoin and Ethereum donations. Reportedly, UNICEF will not be converting cryptocurrencies to fiats, which is a step further. Apparently, the largest charity in the world plans on not just HODling but spending cryptos as well. This also means that individuals and companies would be allowed to make donations in cryptos.
As we already know, blockchain fosters transparency. UNICEF is hoping that this feature could benefit their fundraising and influence the increase of the donor numbers. A big plus is the fact that every donation records on a public blockchain. Hence, no chance of funds being misused. Donations in cryptos will find the final beneficiary, as planned.
Donations in Numbers
UNICEF has purportedly generated over $6.7 billion last year. Cryptocurrencies should soon become part of that pool. As previously planned, the first donation came from Ethereum Foundation. Namely, the company donated 1 BTC and 10,000 ETH.
This project should bring together UNICEF USA, UNICEF Australia, UNICEF New Zealand, and UNICEF France.
There are many international organizations that are embracing cryptos today. Apparently, “the wave of adoption” is coming.
The UN’s Stand on Cryptos
UNICEF is not the only UN organization tackling the subject of Bitcoin. In 2018, the UN secretary -general, Mr. Antonio Guterres, accentuated the global importance of cryptos and blockchain in solving the poverty issues around the world.
The UN has a plan to make financial services accessible through blockchain by 2030. As a quick reminder, the UN has close to 20 specialized organizations and agencies working under its cap. Furthermore, there are another 20 organizations working in close relationship with the UN. All of them could become part of the crypto world sooner than we think.
Do you believe that Bitcoin can make significant changes in ending poverty?
