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The international children's organization UNICEF announced that it will formally support six new blockchain startups through the UNICEF Innovation Fund. As part of the program, companies will each receive a share of $ 100,000 in funding.
Most of the blockchain startups selected for fund membership come from a different developing country. It is hoped that the ideas incubated in them will continue to increase efficiency and transparency in a variety of sectors around the world in the countries that need it most.
UNICEF innovation fund to help bring the benefits of Blockchain technology to developing nations
The UN Children's Charity Division, UNICEF, clearly sees great promises of blockchain technology for the review of entire industries, particularly those traditionally filled with fraud and corruption. Its Innovation Fund has already targeted businesses specializing in other emerging technology sectors such as Scince data, machine learning, virtual reality and drone technology. The six blockchain start-ups will join 20 other companies emerging from these disparate camps receiving funding.
The six companies mentioned in a report by RTT News are: the Argentine enterprise-level financing platform Atix Labs; The Onesmart of Mexico, which hopes to reduce corruption in emerging markets; Prescrypto medical records management platform (also based in Mexico); the Indian supplier of Statwig vaccine supply chain systems; Utopixar from Tunisia, which is exploring blockchain application in community governance; and W3 engineers in Bangladesh. This final startup seeks to provide connectivity between economic migrants and refugees without the use of the internet and mobile phone technology.
In addition to funding, the startups of the UNICEF Innovation Fund will also receive assistance for the development of the projects themselves and indications for business growth.
UNICEF continues to explore the potential of Blockchain in the charity sector
In the last year or so, UNICEF wanted to explore the way blockchain technology and cryptocurrencies can bring benefits to charitable causes. NewsBTC previously reported on the children's charity effort to inspire gamers to use their excess hardware to extract digital assets for donation to charity.
Game Chaingers was launched at the start of this year and is raising funds for those in need in war-torn Syria. The system makes it as simple as possible for players to turn their unused processing power into charitable donations.
A similar tactic was repeated by charity also this year. This time, UNICEF Australia launched an initiative called The Hopepage. This simple website allows visitors to donate as much of their reserve processing power as they wish to extract Monero from the privacy-centric cryptocurrency. The decision to extract Monero has been made since it can still be profitably exploited using the graphics processing units present on many regular computers today.
The charity organization is clearly practicing what it preached in October of last year, when a co-founder of its UNICEF Ventures branch, Chris Fabian, confirmed that it would use blockchain in any way to get the most benefit:
"If we're in a place to look at our token design, look at others to help them design their own in a way that we can participate, and potentially even have an encrypted investment fund, those would all be things that would be on our table march for the near future. "
Related reading: Binance joins Malta to create the Blockchain Charity Foundation
Shutterstock foreground image.
