UNICEF to Invest $100,000 in Blockchain Related Projects

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As per the announcement, UNICEF is investing $100,000 in six blockchain startups to “solve global challenges using blockchain tech,” ranging from healthcare delivery transparency to managing finances and resources.

According to the press release, the investments are part of a broader program which funds 20 tech startups.

These are UNICEF’s newest investments in blockchain startups through its innovation funds, which initially hinted at the move as far back as Feb. 2016, and put out a call for firms in the space explicitly at the start of this year.

The announcement reads that UNICEF will invest up to $100,000 in Mexican tech companies Prescrypto and Onesmart, Indian startup Statwig, Tunisian apps development startup Utopixar, Argentina software firm Atix Labs, and web apps development firm W3 Engineers from Bangladesh.

UNICEF Innovation principal advisor Mr. Chris Fabian describes in a report that the fund invests in projects “when our financing, technical support, and focus on vulnerable populations can help technology grow and evolve in the fairest and equitable way possible.”

He continued:

 “Blockchain tech is still at a nascent stage, and there is a numerous deal of experimentation, failure, and learning ahead of us as we see how, and where, we can utilize this technology to build a better world.”

Other than funding, UNICEF will provide support with the products and technology, and give access to its network of partners and experts.

The companies are expected to release open-source prototypes of their projects over the next 12 months.