Disrupting Donations: UNICEF Accepts Cryptocurrency
Why It Matters
Currently, a handful of non-profits accept and disburse cryptocurrency. As UNICEF becomes the first United Nations agency to transact bitcoin, what will it mean for other non-profits? And as for the Canadian organizations ahead of the curve: how is digital currency already benefiting them and their stakeholders?
Cryptocurrency is a digital currency that is transferred directly through the Internet, between two parties, without the involvement of governments or banks. There are currently over 2,800 cryptocurrencies โ the most well-known being bitcoin and ether โ with a combined value of nearly $250 billion USD.ย
With the launch of the United Nations Childrenโs Fundโs (UNICEF) Cryptocurrency Fund, the UN agency has become the first to accept, hold, and disburse cryptocurrency to beneficiaries. With nearly $18 million USD pooled, funds will go towards financing early-stage, open-source technology companies whose work impacts the wellbeing of children. UNICEF will disburse donations of bitcoi
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