UNICEF Blockchain Fund: First UN Organization To Accept Cryptocurrency Donations

The United Nations Children's Fund, UNICEF, is now accepting donations in cryptocurrencies through their newly established UNICEF Cryptocurrency Fund.

In a move that would surprise even Bitcoin holders themselves, UNICEF gave the green light for accepting Bitcoin (BTC) and Ethereum (ETH) for funding various initiatives, making them the first UN Organization to formally adopt cryptos in conducting transactions.

What's even more remarkable is that the Crypto Fund will not convert the received Bitcoin and Ether to fiat currency, but instead, they will transact using the same cryptocurrency.

"This is a new and exciting venture for UNICEF," said Henrietta Fore, UNICEF Executive Director.

"If digital economies and currencies have the potential to shape the lives of coming generations, it is important that we explore the opportunities they offer. That's why the creation of our Cryptocurrency Fund is a significant and welcome step forward in humanitarian and development work."

UNICEF is no stranger to the blockchain technology as they also co-lead the UN Innovation Network with the World Food Programme (WFP). The UN Innovation Network is a community of UN innovators collaborating to promote innovation within the UN system, and part of the network's research is understanding the depths of blockchain and other emerging technologies.

The first contributions to the Crypto Fund from the Ethereum Foundation will have three beneficiaries from the UNICEF Innovation Fund and a project from the GIGA initiative.

"The Ethereum Foundation is excited to demonstrate the power of what Ethereum and blockchain technology can do for communities around the world. Together with UNICEF, we're taking action with the Cryptofund to improve access to basic needs, rights, and resources," said Aya Miyaguchi, Executive Director of the Ethereum Foundation.

An international agency like UNICEF welcoming Bitcoin and Ether may spark a wider adoption for cryptocurrencies. It's not entirely out of the question for other altcoins to follow suit, especially if the fund turns out to be a success.

Another instance where cryptos are accepted as donations is through Agatha Bacelar's campaign for Congress. Bacelar is an advocate of cryptocurrencies and is accepting campaign donations in the form of Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), Litecoin (LTC) and USD Coin (USDC). She is running against Representative and Speaker of the House Nancy Pelosi.