UNICEF now takes Ether and Bitcoin donations
UNICEF, the United Nations children’s charity executively directed by Henrietta Fore, now accepts donations in Bitcoin and Ether.
This follows the announcement that it will launch its own cryptocurrency fund.
Donations will help fund three start-ups receiving grants from Unicef’s innovation fund. They will also benefit GIGA, which aims to connect every school to the internet.
The charity will receive crypto donations, holding on to the Bitcoin and Ether and then sending the funds to the charitable cause in the same tender. This avoids transfers into a national currency, allowing quicker flow of donations and a reduction in fees.
Donors will also be able to monitor their contributions and see how they reach the charity’s initiatives.
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UNICEF will leverage Bitcoin and Ether only for short-term programmes, such as sending food and water to famine-hit areas and buying mosquito nets in regions affected by Ebola.
This is intended to limit the effect of volatility in cryptocurrency values between donation and follow-through.
The UNICEF's Cryptocurrency Fund’s first contributor will be the Ethereum Foundation.
