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UNICEF Is Investing in Several Blockchain Startups

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Key Takeaways

  • UNICEF has introduced funding for seven blockchain startups.
  • These startups cater towards “unbanked” communities—that’s, areas with little entry to conventional monetary companies.
  • The startups will collectively obtain over $500,000, paid out in fiat forex and Ethereum (ETH).

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UNICEF, the charity arm of the United Nations, has announced that it’s funding seven blockchain startups.

UNICEF Invests in Seven Startups

UNICEF will put money into Grassroots Economics, Rahat, BX Sensible Labs, Leaf World, Xcapit, Kotani Pay, and Somish Blockchain Labs. Collectively, the companies will obtain greater than $500,000 in ETH and fiat.

Grassroots, which can obtain 40.5 ETH ($104,000), permits communities to construct native tokenized currencies. BX Smart Labs, set to obtain 18.9 ETH ($48,000), affords a financial savings and mortgage platform that’s powered by group “financial savings circles.”

Rahat is a Nepal-based blockchain platform from eSatya(Rumsan) that distributes tokenized help to communities; it can obtain $100,000.

Leaf Global supplies Leaf Pockets, a light-weight cryptocurrency pockets that can be utilized on primary cellphones versus smartphones. It should obtain 20.7 ETH ($53,000) plus $48,900 in money.

Xcapit is a agency that makes use of blockchain and AI to supply monetary companies in Latin America; it can obtain 43.8 ETH ($112,000).

Kotani Pay supplies a approach for customers in Kenya to switch cash and convert crypto into fiat. It should obtain 19.9 ETH ($51,000).

Somish Blockchain Labs supplies a governance platform for web3 companies known as GovBlocks; it can obtain $50,000.

Every blockchain agency caters to “unbanked” areas, or communities which have little entry to financial institution accounts and different monetary companies.

The investments had been introduced on June 8 and June 9, 2021.

UNICEF’S Crypto Fund

In October 2019, UNICEF launched its CryptoFund, a pool of Bitcoin and Ethereum cryptocurrency. Inside one 12 months, it had invested in twelve blockchain startups throughout eight international locations.

That fund is now listed below the UNICEF Innovation Fund. UNICEF has invested $10.1 million in complete by way of this fund and $920,000 to blockchain tasks particularly, based on present statistics.

Moreover, UNICEF has acquired donations from the Ethereum Basis and has even mined cryptocurrency previously.

Different divisions of the United Nations have interacted with blockchain as properly. The UN World Meals Programme has used blockchain for funds, whereas the UN Workplace on Medicine and Crime has run coaching packages on crypto crime prevention.

Disclaimer: On the time of penning this writer held lower than $75 of Bitcoin, Ethereum, and altcoins.

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