As per a recent announcement by the United Nations International Children’s Emergency Fund (UNICEF) France, the organisation is now welcoming donations in the cryptocurrency DAI. With this step, DAI becomes the 10th digital currency to be accepted for donations.
UNICEF is of the view that open source Blockchain explorations have the potential to be funded using the DAI cryptocurrency.
As per the organisation, the funds accumulated through this method will be leveraged to facilitate open source Blockchain-based projects through funding research and bounties. The Blockchain projects in question should aim to help the world’s vulnerable.
UNICEF’s Ventures Fund endeavours to invest in emerging technologies to solve humankind’s biggest problems. As per the organisation, UNICEF considers Blockchain to be an emergent technology where new systems of exchange and trust emerge. Users can send value directly to each other without the requirement of a third party.
As per the data by Etherscan, UNICEF’s 12-day old DAI wallet address has amassed donations worth as much as 116.2 DAI, which is equal to USD 116.7.
With an aim bridge the gap between emerging technologies and charitable causes, UNICEF France started accepting donations in cryptos in 2018.
It is interesting to note that the adoption of digital currencies as a store of value may take some time, however, the acceptance of the distributed ledger technology of Blockchain by industries is pacing this transition.
Businesses have come to realize that cryptos can serve as an alternate means to traditional crowdfunding methods owing to the decentralizations and trustlessness provided by the technology that underpins them.
UNICEF is bringing Blockchain tech outside the realm of FinTech to successfully deploy the emerging technology into the day to day lives of people who are potential future catalysers of the next industrial revolution. It will be very interesting to see how the deployment of Blockchain technology can solve the greatest challenges faced by human civilization.