Gothier Sami is working hard to recover his 5-year education loss because of the civil war in the Central African Republic. GIGA initiative, in partnership with UNICEF, helps students like him by connecting every school in the world to the internet.
Sunita Grote, UNICEF Innovation Fund Manager, affirms that connectivity allows this partnership to provide content to children who may not have access to it.
This connectivity initiative is among the first programs to be funded through cryptocurrency. UNICEF’s cryptocurrency fund is hoped to be the most efficient and effective donation method.
Sunita praised this new method because it has cut down a funds transfer and dissemination process that takes 3 days to a matter of minutes. To a refugee, this is a huge relief as she can efficiently access her needs in a short time.
Sunita explained that the reason they are increasingly being asked to be plain about how they allocate resources is because this is one of their most important calls to action as a UN agency.
Being the first UN agency to implement a cryptocurrency fund, it is hoped that it utilizes the benefits of blockchain technology to achieve this call to action.
Donors can track if their funds are impacting the most vulnerable places as far as Syria where refugees collect cash using eye scanners. The UN World Food Program Building Blocks pilot uses blockchain technology to benefit the Zaatari refugee camp in Jordan.
With more transparency comes more trust. With the adoption of this new funding method, donations should increase as well as other UN agencies joining the cryptocurrency bandwagon.
Conflicts, geographic locations and economic issues cause approximately 263 million children and adolescents lack of a proper learning environment.
Paul Lamb, a philanthropic consultant, notes that investing in innovative technology could transform the humanitarian field forever. Lamb said that through the actual uses cases of cryptocurrency and blockchain, significant influence can be seen.
He hopes that over the long-term, this innovative technology grows in its ability to change lives for the better.