UNICEF crypto fund invests into technological startups fighting with COVID-19 in developing countries

Eight technological companies in developing countries will get investment from the UNISEF crypto fund for considering local and global issues.

CryptoFund UNICEF assists third world countries.

In an email spread by Blockchain.News, UNISEF announced that its CryptoFund was putting 125 ETH in eight technological startups in 7 developing countries. Afinidata, Avyantra, Cireha, Ideasis, OS City, StaTwig, Somleng and Utopic will get payments in Ethereum for developing prototypes, pilot versions or scaling their technologies in the next six months. All the above mentioned objects have previously been the recipients of the Innovative UNISEF fund and will now get crypto for continuing development of their social programs. UNISEF Innovative fund is the first of its kind, and it offers the financial support amounting to $100 000, technical consulting and tutorial for worthy startups that integrate innovations for developing the world via technologies with an open source code.

Christina Lomazzo, the head of blockchain in UNOSEF, told Blockchain.News, “There are various methods for studying how these exponential technologies may assist the organization, and one of this ways is to use venture fund as it actually expands the amount of impact”. UNISEF puts money only into projects with an open source code that are based in developing countries. This is such a fantastic thing, and such programs may offer real solutions to local issues.

According to Lomazzo, one of the main difficulties in technical space is the supposition of that new technologies designed in San Francisco or New York will automatically correspond to each of the geographical region, and this contradicts the reality. This is why UNISEF invests into local innovations and only in the technologies with an open source code available for everyone, “Open source code software may embrace most of people, and the beneficiaries of our venture fund solve local issues that will also have a significant impact.

When you start building for those who live in regions with poor connection or for illiterate people, these types of technical applications will be operating in developed countries as well”.

Investors are fighting against COVID-19.

CryptoFund objects are located in seven various developing countries. Several startups that use services of CryptoFund are working at reducing difficulties associated with coronavirus, for children and young people around the world.

They collaborate with national governments and local partners for spreading urgent messages about COVID-19, tracing the efficiency of rice shipping to isolated communities, enhancing children’s education via distance learning, curing pandemic and other diseases, and so on. “We see that the digital world is coming towards us faster than we could imagine, and UNISEF should have an opportunity to use all the tools for this new world in order to help children today and in future”, says Chris Fabian, senior advisor at UNICEF Ventures, “Sending these funds to eight companies in seven countries took less than 15 minutes, and costed less than $5. Instant global cost transmission, fees lower than 0.000015% of the total transaction sum, real-time transparency for our sponsors and supporters, these are the tools that interest us”.