The central theses
- UNICEF has announced funding for seven blockchain startups.
- These startups target communities without bank details – that is, areas with little access to traditional financial services.
- The startups will collectively receive over $ 500,000, which will be paid out in fiat currency and Ethereum (ETH).
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UNICEF, the United Nations charity, has announced that it will fund 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 companies receive more than $ 500,000 in ETH and Fiat.
Grassroots, which receives 40.5 ETH (US $ 104,000), enables communities to build local tokenized currencies. BX Smart Labs, which is slated to receive 18.9 ETH ($ 48,000), offers a savings and loan platform operated by community “savings groups”.
Rahat is a Nepal-based blockchain platform from eSatya (Rumsan) that distributes tokenized aid to communities; it will receive $ 100,000.
Leaf Global offers Leaf Wallet, a lightweight cryptocurrency wallet that, unlike smartphones, can be used on simple cell phones. It receives 20.7 ETH ($ 53,000) plus $ 48,900 in cash.
Xcapit is a company that uses blockchain and AI to provide financial services in Latin America. it will receive 43.8 ETH ($ 112,000).
Kotani Pay offers users in Kenya the ability to transfer money and convert crypto to fiat. It will receive 19.9 ETH ($ 51,000).
Somish Blockchain Labs provides a governance platform for Web3 companies called GovBlocks; it will receive $ 50,000.
Every blockchain company targets areas with no banking connections or communities that have little access to bank accounts and other financial services.
The investments were announced on June 8th and 9th, 2021.
The UNICEF crypto fund
In October 2019 UNICEF launched its CryptoFund, a pool of Bitcoin and Ethereum cryptocurrencies. Within a year she had invested in twelve blockchain startups in eight countries.
This fund is now listed in the UNICEF innovation fund. According to current statistics, UNICEF has invested a total of 10.1 million US dollars through this fund and 920,000 US dollars specifically in blockchain projects.
In addition, UNICEF has received donations from the Ethereum Foundation and has even mined cryptocurrencies in the past.
Other departments of the United Nations have also interacted with blockchain. The UN World Food Program has used blockchain for payments, while the UN Office on Drugs and Crime has run training programs on the prevention of crypto-crime.
Disclaimer: At the time of writing, this author held less than $ 75 in Bitcoin, Ethereum, and Altcoins.
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