- The UNICEF Innovative Fund and Crypto Fund have recently declared that they will provide funds upto $100,000 for the Blockchain and cryptocurrency startups to solve the ongoing challenges.
- A total of 125 ETH will be invested in the companies, namely: Afinidata, Avyantra, Cireha, Ideasis, OS City, StaTwig, Somleng and Utopic.
The global pandemic has shaken the world economy and many shops, businesses, startups had to shut down because of it. Hence, owing to these difficult situations, the UNICEF Innovative Fund and Crypto Fund have recently declared that they will provide funds upto $100,000 for the Blockchain and cryptocurrency startups to solve the ongoing challenges.
Apart from providing funds, UNICEF is willing to provide technical assistance, business growth products, full mentorship, open source and UX and UI development access to many experts. They will also have the advantage to showcase their business strategies and models.
The UNICEF has also announced that the crypto funding will be provided to eight companies from seven different countries to develop models, pilot and improve their existing technologies for a period of over six months. A total of 125 ETH will be invested in the companies, namely: Afinidata, Avyantra, Cireha, Ideasis, OS City, StaTwig, Somleng and Utopic.
As claimed by UNICEF, all the investees have successfully received 100000 US Dollar from it’s Innovation Fund. And they will receive cryptocurrency which they utilise to improve their open source and digital goods.
UNICEF Cryptocurrency Innovation Fund
The awardees mostly come from developing countries and the work they are doing to help their communities and solve the local problems are commendable. The investees are doing whatever is possible within their scope to help children and the youth to survive the hardships of this Covid-19 pandemic.
They have partnered with their government and other various organisations to transmit important messages on Covid-19. They have provided solutions like tracking the effectiveness of rice delivery to the places that have been stricken badly with the pandemic, increasing the children literacy through digital learning, isolation anxiety and most importantly to treat the pandemic.
Chris Fabian the senior advisor to the UNICEF ventures said that digital worlds have approached much faster than they would have expected and that UNICEF must utilise all its available tools for the welfare of the children in the present and in future. He further added that the transfer of cryptocurrency to eight companies in the seven different countries took less than 5 minutes and a total of 5 US Dollars. Features like these, the instant global transfer and low transaction fees almost equal to 0.000015% of the total amount transferred and the real time transparency are the type of tools he supports and is excited about.
Interested applicants can apply within 26th July, 2020 which is the deadline.