Unicef invests 125 ETH on its largest cryptocurrency investment

[Dmasked 1840]

On Friday Unicef announced its largest cryptocurrency investment in eight companies from seven countries.

 

Unicef is funding these eight companies to support their work for local and global betterment. Some among them are working to relieve the sufferings caused by corona virus pandemic.The companies will use the funds to establish their startups and progress their work towards local and global betterment.

Unicef launched cryptocurrency funds in October 2019 and is the first to do so among UN organizations. Since then Unicef has been using bitcoin and ether to fund startups that can benefit the youngsters and children. It made its largest cryptocurrency investment of 125 ETH whose net value in the current market is $28722.50.

The value is small compare to other fundings by Unicef but such large transactions from reputed organizations help make digital lifestyle a reality.

It took less than 20 minutes to transfer the funds to eight companies and cost less than $20, Thousands of dollars transferred across the globe to seven countries with a cost of almost nothing. The transfers made to the companies are transparent for anyone to review and all the donors can review the crypto transactions anytime in the blockchain.

Cryptocurrency will make movement of value anywhere in the world less cumbersome and significantly less expensive.

 

                                                                                                                                                                           

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Edited June 22, 2020 by Dmasked

[Omar Ommeish 4872]

It is a good thing for a United Nations organization to finance start-up projects using cryptocurrencies, because this method does not cost large transfer fees and is characterized by a rapid transfer of funds.

[Moaz 7239]

UNICEF is one of the most important United Nations organizations concerned with childhood especially in poor countries suffering from wars and natural disasters, and that UNICEF investment in cryptocurrencies is good news for crypto users in the world

[magd 5231]

Through this step, UNICEF will contribute to raising the price of Ethereum significantly by increasing the percentage of circulation of this currency. The recognition of the international organization, such as UNICEF, in the cryptocurrencies will contribute to the spread of encryption in all governments, which gives a positive view of the impact of these currencies in helping humanity

[Whited35 15285]

So this is the beauty of Blockchain technology that 125 ETH can be moved just with the transaction fee under $20 ! During this tough time due to corona virus pandemic, this sort of practice from the reputed organization may give the genuine messages to inspire adoption rates of cryptocurrency in this world.

[Ridam 7455]

Well it's feel very good that social organisation are now accepting Crypto and utilizing it one by one. Last time red cross accept donations in Crypto in skme countries and UNICEF investing in Crypto currency. And as UNICEF is working for our countries too effectively for backwards society's and childrens Crypto is being utilised in good deeds now.

[Calvinpriva 17296]

UNICEF its a very large organisation and there are many valuable people behind it. They have done a good thing to use crypto currencies in their investments, by using crypto they will increase more value to it, and they will get more supporters from crypto. 

[Honny143 13612]

UNICEF is well known social organization to help poor peoples and childrens in different countries,now they using block chain technology to collect donations and transfer funds one country to another country with low fees its really great step taken by UNICEF, 125 ETH send and only pay 20$ dollars for fees, now any transaction method not take this type low fees its only possible in crypto system.

[korazon 589]

Very interesting for Unicef to do such. I hope this will make people see that cryptocurrency isn't for criminals at all. And that the news will portrait cryptocurrency as good thing for the future.

[BTC Future 3946]

Cryptocurrencies as Bitcoin and Ethereum are very useful for donation purposes. No money can end in the wrong hands as everything is transparent and transactions can be traced. The person that donates can observe where the money end and no corruption can happen. Although Unicef was already honest, this way noone will have concerns of this matter. 

This is another great use-case of cryptocurrencies.

Edited June 26, 2020 by BTC Future

[Dmasked 1840]

On 6/24/2020 at 8:12 AM, furwandi12sf said:

The development of cryptocurrency that continues to increase makes various countries and world organizations look to invest in cryptocurrency. In this case UNICEF invested 125 ETH, it could be that UNICEF wanted to get a profit as well or just wanted to find information about business opportunities in cryptocurrency.

I do not think UNICEF is after earning profit. Its a non profit organization and maybe it chose cryptocurrency for transaction because it wants to lower transaction fees which can be helpful for the people receiving donation. Also cryptocurrency can reach out to remote places which are difficult to finance.

[Mcd0d0 5882]

On 6/22/2020 at 5:54 PM, Omar Ommeish said:

It is a good thing for a United Nations organization to finance start-up projects using cryptocurrencies, because this method does not cost large transfer fees and is characterized by a rapid transfer of funds.

Well yes, and also you can see here the adoption by United Nations Organization of cryptocurrency coins which is good by knowing that this is more getting popular by many countries.

[TimopheyKa 3900]

As Chris Fabian, head of UNICEF's venture capital division and co-founder of innovation, pointed out, the digital age has arrived faster than we could have imagined.

"UNICEF is now able to use the full range of tools in this new digital world to help children. Transferring funds to eight companies in seven countries took less than 20 minutes and cost us less than $20."

Fabian added that the Commission amount was less than 0.00009% of the total amount of funds transferred. In addition to the speed of this international transaction, he also praised its transparency for all participants and stakeholders.

[raq533 29]

Well, this is a great example of the fact that cryptocurrency can be used not only for bad purposes but also good ones. Like unicef for example.

[JoelLeal21 8]

I find it interesting that unicef invested in cryptocurrencies there, I think it would be because they want to implement more profits and that is why they invest in cryptocurrencies in order to generate more money, it seems like a good way and I am happy about that.

[Captain Karim 0]

Wonderful, just UNICEF's use of cryptocurrencies will encourage many international organizations to follow in UNICEF's footsteps and that will be amazing because it will help to adopt cryptocurrencies more around the world.

[hassan7951 25]

It's really very good what UNICEF has done for these companies and what more interesting in this case it has done all these transactions via Crypto currency, it is a really good sign for the future of crypto currency. UNICEF knows the value of crypto currency and at the same time I believe he gave others an example.

Edited October 8, 2020 by hassan7951

[ShiNorton 906]

Sending or receiving donation is become more easier due to Ethereum Network. Unisef  has took that steps which signifies the importance  of Blockchain technology. It is really useful innovation  for this world to make this world better. 

[SuperCrypto 7193]

UNICEF has thus become the first organization of the United Nations to adopt cryptocurrencies, as it and the recipients of its financing will benefit from lower fees and commissions imposed on transferring money abroad, using digital currencies, in addition to enabling donors to know how their contributions are spent in various initiatives.

[sarahmoses202020 251]

It seems that NGOs are picking up interest in crypto currencies. It is a very important news. We hope that other organizations would also invest into crypto so that we can push the value up together. UNICEF  has started it, we want UNESCO and others to come in.

[billo89 48]

I am very happy to know that more and more public organizations use blockchain technology and cryptocurrencies. This tells us that the technological revolution is working. I love it

[Chrenova 182]

I think they are the best decisions someone can make, today it is an expense but if you keep those cryptocurrencies for a while, about 2 more years, the value will clearly double. This year was not the best for everyone, especially for some projects that could not develop well due to the circumstances of the world. But I firmly believe that the next two are going to be one of the best for crypto, there are very good projects such as orion protocol and elrond that are developing very well, and I think there are many more to come next years. And unicef made the smartest decision you can make, to believe in the future.

[Shaza Ahmad 1682]

I really liked this news, an organization like UNICEF is transferring an amount of money using Ethereum, this will lead to more use and perhaps UNICEF and other international organizations will support some residents with cryptocurrencies directly instead of sending aid, in some third world countries where many face People have problems opening a bank account. Using cryptocurrencies would be an ideal solution.

[bogdanoff 3173]

Unicef invested this Ethereum? I don't know if they are allowed to invest since I thought they are a non profit organization. I hope it turns out well for them but maybe they should just stay with the donations and not expand where it is dangerous for them.

[percare 3192]

I don't know a lot but I think that Unicef accepts crypto donations and this is something that means a lot. If they make the donations given to companies it should be known where and why these are given but I think that these companies will act in the benefit of unicef and the charity work.