The United Nations International Children’s Emergency Fund (UNICEF) France has announced that it is now accepting donations in the DAI cryptocurrency. This makes it the 10th cryptocurrency it now accepts for charitable donations.
The organization seems to think that “open source explorations of blockchain” can be funded using the DAI. The latest cryptocurrency is MakerDAO’s stablecoin pegged to the USD. The funds to be collected through this channel is to be used to support open source projects through “bounties” and “funding research” for blockchain-related projects which ultimately aims at helping the “world’s most vulnerable people”.
UNICEF’s Ventures Fund invests in “frontier technologies” and how they could be used to solve “humanity’s greatest challenges” It currently considers the emergence of blockchain technology as “new systems of trust and exchange on which users can send value directly from one party to another without the need for intermediaries”.
Etherscan.io reveals that the DAI wallet address is about 12 days old and a few contributions totaling DAI 116.2 (about USD 116.7) at press time have been made with the latest contribution being two days old.
The UNICEF organization in France began accepting cryptocurrency donations in 2018 to facilitate the link between emerging technology and charitable causes.
The adoption pattern for cryptocurrencies as both a store and exchange of value may not happen as sporadically as most people expect. However, with reputable industries considering blockchain as alternate means to crowdfund leveraging on the perks of decentralization and trustlessness, the current pace is a steady and evolving transition.
With the likes of UNICEF, blockchain has once again been taken outside the confines of the fintech niche and brought into the regular day-to-day affairs of those who would one day be adopters of this looming technological revolution.
Trusting a developing multi-billion-dollar market, UNICEF sure sees the new technology as an opportunity do much more than virtual trading and speculative analysis. Director of UNICEF France Sébastien Lyon stated in the past: “Cryptocurrency and blockchain technology used for charitable purposes offers a new opportunity to appeal to the generosity of the public and continue to develop our operations with children in the countries of intervention.”
Prior to this news, other developments made by UNICEF around the blockchain industry included the addition of nine popular digital currencies to its website donation portal and a USD 100,000 funding across six blockchain startups.
Other companies are contributing their quota to extend charity through blockchain initiatives. Binance Charity Foundation (BFS) is another active portal that seeks the furtherance of UN Sustainable Development Goals (SDGs).
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