Blockchain technology is much more than digital currencies. The incursion of this technology in various areas of everyday life is clearing the gaps of ignorance and doubts that had been existing about it, demonstrating that its potential is unlimited. The UNICEF Innovation Fund will inject resources into blockchain projects, which will once again demonstrate the positive impact of blockchain.
The vision of UNICEF in this particular is basically to facilitate that entrepreneurs and innovators in emerging economies can solve real-life problems with the technology of distributed general ledger (DLT).
In a press release in recent days, the UNICEF Innovation Fund, which is a unit of the United Nations International Children’s Emergency Fund (UNICEF), which in turn focuses on putting economic resources into solutions that can impact the lives of vulnerable children around the world, made known that it will allocate up to $ 100,000 in six blockchain technology projects currently under development.
The selection method of these six blockchain developments consisted of a selection of more than 100 applications from 50 countries, and dealt with solutions that address transparency in the provision of healthcare, affordable access to mobile phone connectivity and other areas that they can provide solutions to global problems.
The blockchain and open source developments selected must be operational within a period not exceeding twelve months. The selected companies are Atix Labs, from Argentina, which will create a transparent platform to allow new companies to easily raise funds and measure the impact of funds for their projects, Onesmart, a Mexican company that will build a blockchain-based solution to address regarding the misappropriation of funds, Prescrypto also from Mexico, Statwig from India, Utopixar from Tunisia and W3 Engineers from Bangladesh.
This is a first big step by UNICEF in relation to blockchain ventures, technology that adds Artificial Intelligence as one of the new technologies that have been supported by allocating resources to projects that can positively impact the lives of children in vulnerable situations worldwide.
Blockchain technology can certainly still be considered as a very young technology, and its implementation and massive understanding to be adopted in that way could take many more years or even a few decades. However for UNICEF Innovation, despite the nascent nature of the DLT, UNICEF would continue to look for ways to use blockchain technology to create a better world from every perspective.
In fact, the UNICEF Innovation Fund invests in new technologies and developments when a technology shows to be able to grow and mature in a way that helps to positively impact the lives of many children in situations of vulnerability worldwide.
The blockchain technology will continue to be taken into account by the multilateral organization in a significant way, in fact the UN itself has made it known that blockchain technology would be integrated to add efficient solutions to different critical circumstances at the global level.