Odaily Frontline | UNICEF Encryption Fund invests 125 ETH in 8 technology companies each
This article comes fromThis article comes from, some information quoted fromCoinDesk
Odaily Translator |
Odaily Translator |
On June 19th, the UNICEF Cryptocurrency Fund (UNICEF Cryptocurrency Fund) announced to invest 125 ETH (worth about US$28,600, totaling about US$228,800) in 8 technology companies from 7 countries. To support these companies in continuing to develop their open source digital public goods to address local and global challenges.
The eight companies receiving investment this time are Afinidata, Avyantra, Cireha, Ideasis, OS City, StaTwig, Somleng, and Utopic. The new funds will help these companies develop, test, and polish their technology prototypes within 6 months. While 125 ETH may not seem like much, these companies have previously received $100,000 in fiat currency investment from UNICEF's Innovation Fund.
Chris Fabian, senior advisor and co-head of UNICEF's venture capital program, said that the digital world is coming at a speed beyond imagination, and UNICEF must master all the new tools of this new world to help children today and tomorrow. The transfer of funds to 8 companies in 7 countries around the world took less than 20 minutes and cost less than 20 US dollars, which is insignificant compared to the total investment of about 220,000 US dollars. The global flow of value is almost instantaneous and transparent to donors and supporters in real time, which is quite exciting.CoinDeskThe UNICEF cryptocurrency fund was established in October last year. The fund accepts BTC and ETH donations and invests directly in blockchain start-ups. All cryptocurrency donations will be held in encrypted form and will not be converted into legal tender. It is worth mentioning that the first donation to the fund came from the Ethereum Foundation, and on June 18,
According to reports, the Ethereum Foundation has donated a second tranche of funds to the foundation, totaling 1,125 ETH, which is quite close to the total amount of this investment.
Cecilia Chapiro, investment manager of the UNICEF Cryptocurrency Fund, told CoinDesk: "The world is facing a global crisis, and we have decided to make a new round of investments to help mitigate the impact of the new coronavirus (COVID-19) epidemic. In addition, this It’s also the first time we’ve accepted funding applications in both USD and cryptocurrencies.”
As Cecilia Chapiro said, among the 8 companies that received investment this time, the business of many companies is related to the response to the COVID-19 epidemic. Indian startup StaTwig is experimenting with blockchain-based applications to track and improve food supplies, helping millions of poor people get essential household items, a need that has expanded with the emergence of COVID-19; Cambodian firm Somleng is promoting its interactive voice response system, working with the government of Cambodia to spread important information about COVID-19.
Other projects, while not directly related to the COVID-19 outbreak, also focus on improving the lives of children. Guatemalan company Afinidata is further developing its artificial intelligence applications to help parents provide personalized early childhood education; Mexican company OS City will provide children with blockchain-based educational certificates…
The UNICEF Innovation Fund and the Cryptocurrency Fund are still accepting financing applications. High-quality blockchain solutions can get $100,000 in legal currency from the Innovation Fund + cryptocurrencies from the Cryptocurrency Fund. For details, please visit UNICEFofficial website。
