News UNICEF Pledges to Hold Cryptocurrency Donations in Cryptocurrency

UNICEF Pledges to Hold Cryptocurrency Donations in Cryptocurrency


- Advertisment -

UNICEF expands on a previous cryptocurrency acceptance program by UNICEF France by pledging to hold and disburse donated charity in cryptocurrency.

The worldwide organization’s announcement said that it will start by both accepting and holding Bitcoin and Ethereum, including a donation from the Ethereum Foundation, which will be made “through the French National Committee for UNICEF”. UNICEF France started accepting cryptocurrency donations back in September of 2018, including Dash, and still accepts Dash according to its cryptocurrency donation page. Other coins accepted include Litecoin, Ripple, DAI, Monero, EOS, and Stellar. Henrietta Fore, UNICEF Executive Director, highlighted how cryptocurrencies have the potential to improve the lives of individuals and will better help them accomplish their mission.

“This is a new and exciting venture for UNICEF. If digital economies and currencies have the potential to shape the lives of coming generations, it is important that we explore the opportunities they offer. That’s why the creation of our Cryptocurrency Fund is a significant and welcome step forward in humanitarian and development work.”

Significantly, the tweet discusses how UNICEF will not only accept cryptocurrency, but also hold and disburse cryptocurrency donations indicating that the organization has at least some degree of belief in the technology to help them accomplish their goals of aiding poor individuals.

Helping improve nonprofits with cheaper, faster, and safer payments

While charities are constantly improving with more transparency and are pushed along by ranking systems like Charity Navigator, there can still be single to double digital percentages of donations lost to administrative costs. While corruption might not be a financially significant issue, it can still sum up to a sizable amount of a few billion dollars, and even experts admit that it isn’t possible to account their entire amount of international aid lost to corruption. Cryptocurrency provides a solution by taking out middlemen and transferring money directly from the donor to the end recipient. While UNICEF is still acting as a middlemen, they are providing an important transitionary step by showing both sides of the charity dynamic that cryptocurrency is a trustworthy method of money and that it should be used.

Dash is built to provide charity services

Dash has some very unique attributes beyond that of other cryptocurrencies that help it serve the charity ecosystem. Primarily, Dash’s automatic InstantSend that allow transaction to lock in less than 2 seconds for less than $0.0005 USD and be better protected against 51% attacks with ChainLocks ensures that more money gets to its destination safely and faster. Second, the ability for the Dash network to fund various merchant adoption campaigns and integrations helps give support to donation recipients that they will either have locations where they can spend their Dash or cash out via ATMs.

Additionally, there are groups within Dash that want to go the extra mile to help those in need by leveraging the decentralized technology of Dash. Dash Text ventured into creating a decentralized charity program that is in testing with 100 Venezuelan students to have donations from individuals get automatically distributed to students in the program rather than having to have an administrator divide up the funds, manually, which costs more and increases the risk of skimming.



Please enter your comment!
Please enter your name here

Latest news

3 Beginner Friendly Ways to Make Money with Cryptocurrency 2020

In this article, we will explain how to make money with cryptocurrency in 2020. These methods are...

Blockchain, Bitcoin, and Mashed Potatoes

According to studies, over the next 5 years, many of the major supermarkets are expected to...

Different Facets of Biometric Authentication and How They Are Making A Difference in The Financial Sector

When we think of authentication in the true sense, then we find ourselves amid the different proven...

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

"The digital world is coming to us faster than we could have imagined," said UNICEF chief Chris...
- Advertisement -UNICEF Pledges to Hold Cryptocurrency Donations in Cryptocurrency

Analysis: Is Bitcoin (BTC) Still Viewed As A Dark Web Currency?

There is a long past of Bitcoin (BTC) – due to its anonymity – being used in...

A Beginner’s Guide to Day Trading Crypto

Much of the activity that comes from the crypto-space originates from the crypto-trading community. Buying and selling...

Must read

Blockchain, Bitcoin, and Mashed Potatoes

According to studies, over the next...
- Advertisement -

You might also likeRELATED
Recommended to you