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So-called token sales or initial coin offerings (ICOs) are getting a nod of approval from an unlikely source. Revealed in an exclusive interview with CoinDesk, the United Nations Children's Fund (UNICEF), the U.N. program tasked with providing assistance to children around the globe, said this week it would be open to exploring how it could issue custom cryptocurrencies, either to further its mission or the goals of its partners.
While it might seem surprising that an organization like UNICEF would make such bold claims, it's actually consistent with the organization's drive to position itself as a leader in blockchain. From making its first blockchain investment this year to exploring the creation of an investment fund backed by cryptocurrency, the UN agency has embarked on a widespread effort to utilize the nascent technology.
The co-founder of UNICEF Ventures, Chris Fabian, said the humanitarian and developmental children's aid organization is open to following the blockchain wherever it leads. Fabian, who was previously the senior advisor on innovation to the executive office of the U.N. secretary-general, told CoinDesk:
"If we are in a place to look at designing our own token, look at others to help design theirs in a way that we can be a part of, and potentially also have a crypto-denominated investment fund, those would all be things that would be on our roadmap for the near future." Far from a passing fancy, Fabian framed this outlook as part of a sophisticated two-prong investment thesis driving UNICEF's blockchain work.
Source here.
While it might seem surprising that an organization like UNICEF would make such bold claims, it's actually consistent with the organization's drive to position itself as a leader in blockchain. From making its first blockchain investment this year to exploring the creation of an investment fund backed by cryptocurrency, the UN agency has embarked on a widespread effort to utilize the nascent technology.
The co-founder of UNICEF Ventures, Chris Fabian, said the humanitarian and developmental children's aid organization is open to following the blockchain wherever it leads. Fabian, who was previously the senior advisor on innovation to the executive office of the U.N. secretary-general, told CoinDesk:
"If we are in a place to look at designing our own token, look at others to help design theirs in a way that we can be a part of, and potentially also have a crypto-denominated investment fund, those would all be things that would be on our roadmap for the near future." Far from a passing fancy, Fabian framed this outlook as part of a sophisticated two-prong investment thesis driving UNICEF's blockchain work.
Source here.
I would be ecstatic indeed if UNICEF would really be coming up with their own token as part of making things easier and in pursuance of their own vision, mission and goals. Indeed, it has been proven in many instances that cryptocurrency can be of big help in humanitarian purposes. Funds send via cryptocurrency platform have bigger chance of getting into the real and intended beneficiaries compared to traditional means of relaying money where human errors and corruption can be big hurdles.
This is just showing us the great potential of the blockchain technology in upgrading things and in making programs and plans really effective delivering the services needed by people who are experiencing dire problems in many areas of concerns. There are so many areas with humanitarian efforts worldwide that can be amazingly enhanced using the blockchain.
I think that blockchain can help in mitigating extreme poverty and in helping people cope with almost hopeless situations. This is the power of the blockchain technology that can hopefully bring on positive changes for many people in need.