News UNICEF's 125 ETH Investment Took Less Than 20 Minutes...

UNICEF’s 125 ETH Investment Took Less Than 20 Minutes and Cost Less Than $20

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“The digital world is coming to us faster than we could have imagined,” said UNICEF chief Chris Fabian.

On Friday (19/6) eight technology companies from seven different emerging economies received an investment of Ethereum cryptocurrency from the UNICEF Cryptocurrency Fund.

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UNICEF’s encryption-enabled investment vehicle gave these companies 125 ETH, worth about $28,600, for use in scaling or producing prototypes of their respective technologies over the next six months.

Companies receiving this investment have already received $100,000 in fiat currency from the UNICEF Innovation Fund as well.

One such company, Afinidata, offers educational content to parents with young children. Another, Cireha, creates communication systems for children with speech or language problems for use in the offline world.

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These are mission companies and UNICEF gives them some encryption momentum to advance this mission.

“We see that the digital world is coming to us faster than we could have imagined – and UNICEF should be able to use all the tools of this new world to help children today and tomorrow,” UNICEF Ventures chief chris Fabian said in a statement.

“Transferring this money – to eight companies in seven countries around the world – took less than 20 minutes and cost us less than $20. Almost immediate global value change, charges of less than 0.00009% of the total amount transferred and real-time transparency for our donors and supporters are the types of tools we are excited about,” he added.

As UNICEF is a United Nations agency that protects the well-being of children around the world, it is working at the same time for a better future. As the agency distributes money to technology companies around the world, it’s worth noting that blockchain technology seems to fit exactly its plans for the future.

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