Key Takeaways
UNICEF has announced funding for seven blockchain startups.
Those startups cater toward “unbanked” communities—that is, areas with little access to traditional financial services.
The startups will collectively receive over $500,000, paid out in fiat currency and Ethereum (ETH).
Share this article
UNICEF, the charity arm of the United Nations, has announced that it is funding seven blockchain startups.
UNICEF Invests in Seven Startups
UNICEF will invest in Grassroots Economics, Rahat, BX Smart Labs, Leaf Global, Xcapit, Kotani Pay, and Somish Blockchain Labs. Together, the firms will receive more than $500,000 in ETH and fiat.
Grassroots, which will receive 40.5 ETH ($104,000), allows communities to build local tokenized currencies. BX Smart Labs, set to receive 18.9 ETH ($48,000), offers a savings and loan platform that is powered by community “savings circles.”
Rahat is a Nepal-based blockchain platform from eSatya(Rumsan) that distributes tokenized aid to communities; it will receive $100,000.
Leaf Global provides Leaf Wallet, a lightweight cryptocurrency wallet that can be used on basic cellphones as opposed to smartphones. It will receive 20.7 ETH ($53,000) plus $48,900 in cash.
Xcapit is a firm that uses blockchain and AI to provide financial services in Latin America; it will receive 43.8 ETH ($112,000).
Kotani Pay provides a way for users in Kenya to transfer money and convert crypto into fiat. It will receive 19.9 ETH ($51,000).
Somish Blockchain Labs provides a governance platform for web3 businesses called GovBlocks; it will receive $50,000.
Each blockchain firm caters to “unbanked” areas, or communities that have little access to bank accounts and other financial services.
The investments were announced on June 8 and June 9, 2021.
UNICEF’S Crypto Fund
In October 2019, UNICEF launched its CryptoFund, a pool of Bitcoin and Ethereum cryptocurrency. Within one year, it had invested in twelve blockchain startups across eight countries.
That fund is now listed under the UNICEF Innovation Fund. UNICEF has invested $10.1 million in total through this fund and $920,000 to blockchain projects specifically, according to current statistics.
Additionally, UNICEF has received donations from the Ethereum Foundation and has even mined cryptocurrency in the past.
Other divisions of the United Nations have interacted with blockchain as well. The UN World Food Programme has used blockchain for payments, while the UN Office on Drugs and Crime has run training programs on crypto crime prevention.
Disclaimer: At the time of writing this author held less than $75 of Bitcoin, Ethereum, and altcoins.
Share this article
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
See full terms and conditions.
American Cancer Society Accepts Dogecoin Donations
The American Cancer Society (ACS) is now accepting Dogecoin donations, according to a tweet published by the charity. Donate Dogecoin to ACS “Starting today, you can make donations to the…
Winklevoss Twins, Alesso, Paolo Maldini Join Charity NFT Project on Et…
Ethernity is launching a charity-focused NFT collection, attracting various celebrities to participate. Celebrities Launch Charity NFTs Ethernity, a new project committed to donating proceeds from tokenized digital art to charity,…
What is Polygon (MATIC): Ethereum’s Internet of Blockchains
In terms of both decentralized app (DApp) development and adoption, no blockchain has been more successful than Ethereum (ETH). But despite its relative success, the Ethereum network still contains several…
Supply Chain Solution SUKU Launches DeFi Protocol for “Unbanked…
SUKU DeFi will “support the unbanked and underserved” by giving its suppliers access to financial services that they may have been excluded from in the traditional finance system, namely microlending….
Be the first to comment