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UNICEF Unveils Cryptocurrency Donation Fund

UNICEF (United Nations International Children’s Emergency Fund), whose objective is defending children’s rights and assisting them in attaining their optimal potential, has unveiled a cryptocurrency donation fund for this goal.

Expressly, UNICEF will be able to disburse, hold, and receive cryptocurrency donations in both ether and bitcoin. UNICEF has, therefore, set a precedent as this is the first-ever move by a UN organization. The UNICEF crypto initiative was launched for open-source technology funding as it will be beneficial to young people and children across the globe.

Henrietta Fore, UNICEF’s executive director, noted that emerging technologies should be embraced. She asserted:

“If digital economies and currencies have the potential to shape the lives of coming generations, it is important that we explore the opportunities they offer. That’s why the creation of our Cryptocurrency Fund is a significant and welcome step forward in humanitarian and development work.”

Furthermore, the Ethereum Foundation is expected to make the first contribution. Its executive director, Aya Miyaguchi, made this revelation, proclaiming:

“The Ethereum Foundation is excited to demonstrate the power of what Ethereum and blockchain technology can do for communities around the world. Together with UNICEF, we’re taking action with the Cryptofund to improve access to basic needs, rights, and resources.”

The UNICEF Cryptocurrency Donation Fund is part of the organization’s ongoing project with blockchain technology. Notably, UNICEF is instrumental in the UN Innovation Network mandated with researching the capabilities and challenges of blockchain, as well as innovative technologies.

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Liberland Aid Foundation Launches Cryptocurrency Fundraising Program

The Liberland Aid Foundation (LAF), the humanitarian arm of the Free Republic of Liberland, now accepts donations via cryptocurrencies like Bitcoin. The LAF relies on the core philosophies of freedom, voluntarism, and charity to guide its program.

The vision of the foundation is to engender trust between partner nations and assist humanitarian efforts to help to alleviate human suffering so that people can live a dignified existence in a more peaceful world.

President of Liberland Vit Jedlicka and his government created the Aid Foundation to reflect the nature of the new country. “Our mission is to serve as a charitable and educational organization that allows freedom-loving people to channel their generosity into needs-based humanitarian assistance and other benevolent endeavors based on the principles of voluntary action and to promote self-help through education about entrepreneurship and markets.”

The Foundation has partnered with The Giving Block to facilitate the smooth donations of cryptocurrencies in a compliant and user-friendly way.

The Giving Block was formed to make it easy for nonprofits to begin accepting cryptocurrencies.

As the US IRS treats cryptocurrency as property, newly created cryptocurrency millionaires are incentivized to donate cryptocurrency so that they could offset their capital gains tax. However, very few nonprofits are familiar with accepting cryptocurrency.

Established in 2018, The Giving Block now has more than 100 crypto-friendly nonprofits participating in the Bitcoin Tuesday campaign. Founders Pat Duffy and Alex Wilson vet each new non-profit and then provide a pathway to receiving cryptocurrency donations.

Alex Wilson said, “We are delighted to welcome the Liberland Aid Foundation to our platform and we hope the Aid Foundation is successful in attracting donations to help their causes.”

There are six spokes to the Liberland Aid Foundation. These include:

Humanitarian Aid

Needs-based humanitarian assistance is provided to people affected by disasters with particular attention to the most vulnerable victims regardless of race, ethnic group, religion, gender, age, nationality, or political affiliation.

Disaster Preparedness

We provide assistance to prepare for and mitigate the impact of, natural or man-made disasters.

Food Assistance

Humanitarian food assistance is provided in anticipation of, during, and in the aftermath of a crisis to save lives, and avert emergency rates of malnutrition.

Water Sanitation

Water, sanitation, and hygiene are closely connected and essential for good public health. In emergency and crisis situations, providing access to clean water in sufficient quantity and ensuring safe and clean waste disposal is paramount.

Education and Training

Education helps to restore normality to those affected by crises by providing the skills necessary to be self-sufficient. Education and training are crucial for long-term stability, peace, and economic growth and to foster self-help.

Environmental Conservation

Quality of human life is directly affected by environmental standards. Natural resources that are not treated in a sustainable manner are quickly depleted, and communities that do not have access to recreational activity and adequate green space suffer as a result. It is crucial to conserve the earth’s natural resources and to safeguard them for long-term use and for future generations.

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What Solutions Can Blockchain Bring in Response to the Deadly Coronavirus Outbreak?

The Wuhan coronavirus death toll hit a daily high, with 565 deaths, and 3694 confirmed cases, a slightly lower number than the day earlier. 28,261 cases of infection have been reported worldwide, with most cases confirmed in Hubei province in China.

Syren Johnstone, the Executive Director of the Masters of Law (Compliance and Regulation) Program the University of Hong Kong published a post at the Oxford University Faculty of Law Department blog, stating that blockchain and artificial intelligence (AI) could be the “call to arms for the tech industry.”

Chinese President Xi Jinping previously mentioned that opportunities have been presented by blockchain technology and that the nation should accelerate its development to utilize its full potential. How can this apply to the current crisis?

Donations for coronavirus vaccine research

World Health Organization (WHO) Director-General Tedros Adhanom Ghebreyesus said a “window of opportunity” exists “to bring this outbreak under control,” given that only 190 cases are confirmed outside of China.

As a part of the WHO’s request for $675 million in global contributions to stop the spread of the disease, Bill and Melinda Gates donated $100 million for coronavirus vaccine research and to protect at-risk populations in Africa and South Asia.

Chinese conglomerate Alibaba started a $144 million fund to purchase medical supplies for Wuhan, the city of the epicenter of the outbreak while offering AI computing power to research organizations for creating vaccines and treatments. Tencent also created a $42.7 million fund for medical supplies to be used in Wuhan.

The current issues with donations and learning from past mistakes

The Charity Law of China was introduced in the country in 2016, to enable the establishment of private charities, to develop the charity field and the interests of stakeholders.

However, there has been concern that the millions of dollars being donated for the public, as well as the protective equipment, are not being put to use where needed, and it has been reported that the equipment has been misdirected.

Beijing has ordered all public donations for the Wuhan coronavirus outbreak to be funneled to five government-backed charity organizations, which automatically assumes that these government-backed charities are all fit for purpose, and would be able to manage in a centralized manner of the recent outbreak.

The Red Cross in China has previously mishandled billions of dollars donated for the Wenchuan earthquake in Sichuan province in Western China in 2008. The Red Cross in China reflected, “One of the lessons learned was that emergency response must be better developed at the local level.”

Johnstone added, “When crises occur they are by their nature large scale, happen quickly and unexpectedly, and become increasingly tragic the longer it takes for an effective response to emerge. The striking concern about the present situation in the Hubei Red Cross is the degree of opacity involved given that the charities receiving donations have a fiduciary and moral duty to apply donations effectively and for the purposes intended.” He suggested that currently, news reports are the only available source of information on how the donations are used, which is not enough.

With the issues in the chain of donations, the public in China has been angered as their contributions have not ended up where they expected, which diverts the objective of addressing the crisis. This, in turn, also impacts the public’s willingness to donate in the future.

How can blockchain help?

According to Johnstone, a private blockchain network would “enable the recording and tracking of anything that is donated, from donation dollars to N95 masks.” By holding the person or organization accountable, donations for delivery could be tracked from the donor all the way to its final-use. Blockchain would also enable transparency for the general public to understand how their donations have been used and its progress. While a private blockchain is strictly controlled, it can also allow for public transparency for donors and donees, as well as authorities.

Johnstone, describing blockchain as a “superior tool” for tracking and verifying the origin and the journey for products, made the conclusion that it could be applied to “pretty much anything.” He added that blockchain could also solve the issue of substandard vaccines being mishandled and delivered to Chinese hospitals.

VeChain and DNV GL have been looking into using blockchain technology to enhance drug traceability since 2018. In November 2019, the National Medical Products Administration in China will launch a vaccine tracking system in Q1 of 2020 that covers the whole medical supply chain. Together with President Xi’s endorsement of the technology, blockchain could become essential for finding a suitable solution for the current issues.

Blockchain to ease the fight of patenting the cure of the coronavirus

China has been desperately looking into different solutions looking to cure the coronavirus. Although there has not been any effective cure for the virus, which has taken over 500 lives, progress has been made, where remdesivir is now believed to be the acceptable treatment of the virus.

Remdesivir was originally developed to treat the Ebola virus; however, it was not effective. Preclinical tests suggested that the drug may be effective against the coronavirus, and was given to a US patient for “compassionate use” and the patient’s condition was improved the next day.

The Wuhan Institute for Virology in China has applied to patent the drug, which is being developed by Gilead Sciences and is currently in Phase III of its clinical trial to assess the use of the drug for the treatment of the coronavirus.

However, a spokeswoman for Gilead Sciences said that the company invented the drug, and filed patent applications for the drug to be used against coronaviruses globally, including China, in 2016.

In situations like these, where there may be a contest in a patent or in securing intellectual property rights, blockchain could become the answer for the management of these rights. An immutable record of events, where the first entity to create the drug, could be added on the blockchain to avoid the duplication of patents for the same drug.

Ripple Donates $10M to Humanitarian Organization to Accelerate Financial Inclusion

Ripple has continued to be innovative in finding ways to deliver global financial inclusion amid a struggling COVID-19 economy.

Recently, it announced that it was contributing $10 million to Mercy Corps to enable it to leverage digital assets as it strives to achieve financial inclusion amid an emerging market. The announcement was made during Ripple’s 2020 Swell conference, which is held annually. Through the contribution, Ripple is hoping that economic empowerment could be increased on a global level.

Mercy Corps, a humanitarian and non-governmental organization, is an entity that strives to create economic opportunities in countries where the financial system is poorly developed. Senior Managing Director at Mercy Corps Ventures Scott Onder spoke about the initiative’s visions:

“The existing financial system is fragmented, antiquated, and exclusionary–leaving 1.7B people unbanked and disproportionately excluding women. Emerging fintech, crypto and blockchain technologies have the potential to radically transform it.”

He added that he hoped that less developed communities could be part of the digital innovation whirlwind that seems to have taken over the world and propelled forward by COVID-19. Onder added:

“We are going to leverage our global resources and reach to ensure community voices are heard and vulnerable populations are not left behind in the fintech revolution.”

Through Mercy Corps and Ripple’s partnership, as well as the coin exchange’s non-profit organization RippleWorks, fintech solutions involving digital assets and cryptocurrencies will be supported and advocated to bring financial inclusion to the unbanked.

Recently, Ripple (XRP) analysts also found that blockchain adoption was the key to successful growth in financial institutions. Through their Blockchain in Payments Report, Ripple’s findings showed that 59% of its respondents were leveraging blockchain for production use.

Bitcoin Water Trust Receives Over $1.3M BTC Donations For Charity within Three Weeks

The famous New York-based non-profit organization “Charity: water” has recently introduced the Bitcoin Water Trust establishment during the 2021 Miami Bitcoin Conference. The trust fund has received worth more than $1.3 million BTC donations within three weeks of the trust’s launch.

“Charity: water” is a non-profit organization founded in 2006 that aims to bring clean and safe drinking water to people in developing countries.

The Bitcoin Water Trust aims to directly bring drinking water to places currently inaccessible to solve the global water crisis.

In order to draw greater attention from potential investors, the Bitcoin water trust established a new charity model called “HODL MODL”, which means “hold on for dear life”. The institution also announced that Gemini’s cryptocurrency wallet would accept Bitcoin donations and continue this campaign until 2025. It intends to influence the use of Bitcoin will have a more significant impact on the future. By investing in future capital, Bitcoin is investing in clean drinking water in the next few years.

According to the charity’s website, a total of 32.5949 BTC has been donated so far, which is equivalent to more than $1.3 million at current prices.

An official blog published by the US cryptocurrency exchange Gemini on June 14 stated that:

“This new charity model — the HODL MODL — creates a new paradigm for charitable giving. It brings the HODL ethos of Bitcoin to charitable giving, and means your bitcoin donation today could make an even bigger impact tomorrow.”

“We’re thrilled to help a fellow mission-driven organization like charity: water accept bitcoin and maximize its humanitarian efforts,” the post added.

Currently, approximately 785 million people worldwide cannot access purified water. Co-founders Cameron and Tyler Winklevoss have pledged to match the first 50 BTC donated to the Bitcoin Water Trust to provide clean water for approximately 50,000 people. Although this move can only help a small part of the world’s people get clean water, they believe that it will have a more significant impact on the people who could not access clean water through this trust. The institution also plans to spend Bitcoin in 2025 or build clean water projects with more than 20 countries or regions.

Scott Harrison, CEO of charity: water, also revealed that:

“We’ve been encouraged by the overwhelming support we have seen already for the Bitcoin Trust Initiative. By establishing this trust, we aim to harness the transformational power of this generational digital technology to make a lasting social impact, and in the process to provide a potential model for other charities who are working to do the same.”

In recent months, since Ethereum founder Vitalik Buterin donated more than $1.5 billion, the charity has become a hot topic in the crypto industry.

Russian Canadian programmer and co-founder of Ethereum, Vitalik Buterin, has donated a large chunk of his crypto holdings to fund various charity organizations. In total, Buterin transferred 660 billion SHIB, 140 billion AKITA, 43 billion ELON, and 15,719 ETH to the India-based Covid-19 relief fund.

Crypto Charity Elongate Donates $25,000 to Malala Fund

Cryptocurrency-driven Charity organisation Elongate announced Friday to donate $25,000 to Malala Fund as a seed funding.

Elongate released a statement, saying the donation will be the first-round seed of donations to the fund. Elongate is a cryptocurrency token on the Binance Smart Chain. About 10% of transaction fee rewards holders donate significant sums to charity to promote social impacts and community influences.

The organisation has long participated in charity activities, including the Ocean Clean-up, Action Against Hunger and National Kidney Foundation, enabling the total charity donations from the organisation up to $3,250,000 in three months.

Malala Fund, as the receiver which benefits from the donation, was founded by Malala and Ziauddin Yousafzai in 2013, advocating women’ rights to enjoy 12 years of free, safe and quality education, as more than 130 million young girls are out of school nowadays due to political challenges, according to the Malala Fund.

Apart from the donation, Elongate actively develops other crypto and blockchain-related charity, such as hosting a non-fungible tokens drop charity campaign this month.

“I am excited to say that the Elongate ecosystem will continue to expand in the next few months,” Gene Rhode, Elongate’s Chief Marketing Officer, has commented on the recent activities of Elongate.

Cashing Out Vitalik Buterin’s Crypto Donation Proves Difficult for India’s Covid Relief Fund

Only $20 million of the $1 billion in Shiba Inu coins that Ethereum co-founder Vitalik Buterin donated to a Covid-19 relief fund in India has so far been cashed out and distributed to aid recipients.

Sandeep Nailwal, the founder of India’s Crypto Covid Relief Fund, explained in an interview why the process has not been frictionless as cryptocurrency users would have expected.

In May, Buterin liquidated several of his Shiba Inu tokens and donated the proceeds to many charitable organizations, including Gitcoin, Give Well, and India Crypto Covid Relief Fund, India faced severe cases of Covid-19 infections. Buterin’s liquidations caused a price crash and panic among traders who rushed to lock their profits amid the price plunge during that month, which saw the value of Shiba Inu coins drop by over 40%.

It is now about two months down the line as Sandeep Nailwal shared some difficulties concerning cashing out Buterin’s contribution. So far, just $20 million has been paid out, with another $20 million expected to be cashed out in the near future.

Nailwal admitted that some of the delays are caused by his cautious approach and the desire to ensure that the funds reach grassroots organizations transparently to places where they are most needed. He, therefore, said that he plans to hire a reputable auditor to assist in overseeing the process as it continues.

Apart from that, Nailwal stated that Buterin’s sell-off caused a price crash that saw the initial $1 billion in value that 50 trillion Shiba Inu coins represented during that time of their liquidation soon lost their value by about 50%. Nailwal has estimated the final total value of Buterin’s contribution to be about $400 million.

Besides that, Nailwal revealed that the disbursement of the funds is still facing difficulties because of the requirements to comply with India’s Foreign Contribution Regulation Act amid the conversion of the crypto coins into US dollars and then Indian rupees.

Covid-19 Soared Crypto Trading

During the Covid-19 pandemic, the main focus for businesses has mainly been operational resilience and crisis management. The pandemic destabilized global economies and changed the way the globe operates. While attitudes towards cash changed, the pandemic increased the appetite for crypto in India.

Some of India’s best crypto minds have come together to do their best based on their ability as the country struggles to contain the pandemic. Spearheading the cryptocurrency drive to assist patients affected by the coronavirus is India’s Crypto Covid Relief Fund. The donations they obtain are being used to provide essentials and healthcare to people fighting the virus.

That demonstrates why India embracing cryptocurrency is a good thing as crypto is instant, and the funds can be raised globally. Although the crypto bags heading for COVID-19 relief is being applauded for the important role it plays, there are still lots of challenges associated with the venture, as pointed out by Nailwal.

No-Kill Animal Organization PAWS Chicago Launches "Dogenations", Accepting Crypto Donations

PAWS Chicago, a large-scale No-Kill animal rescue organization in the Midwestern United States, and Leo Burnett, a creative solutions company, launched a cryptocurrency donation event called “Dogenations”.

According to the official announcement, PAWS Chicago will accept donations of mainstream tokens such as Dogecoin (DOGE), including Bitcoin and Ethereum, to establish the PAWS Chicago Medical Center for homeless animals.

In addition, PAWS Chicago and creative advertising company Leo Burnett used the memetic culture-especially the “laser eye” model, to launch targeted digital billboards.

More than 180 outdoor digital advertisements will display a QR code with donations to provide a convenient and fast donation channel for investors with cryptocurrencies. The public can donate through these billboards throughout the Chicago area from August to September.

The PAWS Chicago Chief Executive Officer Susanna Homan said that:

“We are a solutions-based, forward-thinking organization, which is why we are eager to connect with the growing cryptocurrency community, who can help sustain the future of animal welfare in Chicago and save animals’ lives.”

The altcoin cryptocurrency founded in 2013 based on the popular Doge meme is playing its highly anticipated and adopted role to help dogs live in real life.

The Associate Creative Director at Leo Burnett, Ben Doessel, said that the rise of Dogecoin popularity also means that people also particularly favour dogs and commented to this cooperation that:

“Our team coupled this trending meme with PAWS Chicago, which has been a driving force in animal welfare for decades, to give dog lovers a new way to make a real impact.”

PAWS Chicago is an animal shelter that focuses on providing free or low-cost sterilization operations in Chicago and other areas and providing treatment services for dogs and cats in euthanized states with high mortality.

Sotheby's Metaverse to Launch Largest NFT Charity Auction with Sostento

Sotheby’s Metaverse announced that it has partnered with Sostento for the “biggest non-fungible token (NFT) charity auction ever”.

For this auction, seven individual winners from Twitter’s June 30, 2021, digital NFT lucky draw will be selling their full set of seven NFTs, with their proceeds going towards Sostento. This organization gives vital support to frontline public health workers.

On June 30, Twitter gave away seven unique NFTs available in editions of 20 randomly to followers who replied to its tweet, “140 free NFTs for 140 of you, besties,” following which The 140 Collection was born.

The 140 Collection showcases the many facets of Twitter, from the first iterations of its logo to its 140-character limit.

Sotheby’s Global Head of Science and Pop Culture, Cassandra Hatton, expressed that：

“It is inspiring to work not only alongside an organization like Sostento, but also with the group of Besties who recognize the significance of their NFTs and are harnessing that power for a good cause.”

Sostento’s CEO, Joe Agoada, stated that the proceeds will be processed through its partner Giving Block and will be directly invested in the life-saving activities of frontline medical staff members. Sostnto creates initiatives, mobilizes networks, and delivers digital tools and services that tackle challenges frontline health workers face.

The Giving Block, founded in 2018, primarily focuses on making Bitcoin and another cryptocurrency fundraising easy for non-profits.

Since only a few non-profits around the world are well equipped to accept donations in cryptocurrency, The Giving Block helps charitable organizations to “leverage crypto technology to achieve their mission.”

As reported by Blockchain.News on November 12, Sotheby’s auction house started accepting Ethereum (ETH) cryptocurrency during live bidding for its upcoming virtual exhibition, where two of Banksy’s artworks will be up for sale.

U.S Figure Skating to Accept Crypto Donations

The U.S. Figure Skating, one of the national governing sports bodies in the U.S., has announced to accept crypto donations from the public, riding on the technical provisions from Engiven, a cryptocurrency donation management platform providing an end-to-end giving solution benefiting nonprofits and their donors.

The U.S. Figure Skating plans to use the proceeds from the donations to bring the families of its representatives together as the coronavirus pandemic has hindered many visitors from travelling to the Beijing Olympics to cheer their athletes.

According to the announcement, the “Donations to the Destination Beijing program will help bring these family and friends together and — through the magic of NBC — give them the opportunity for direct, live communication with their athlete after competitions,” adding that “Together, they will share their stories, hopes and pride during this unique time to cheer on their athletes as they compete on the world’s greatest stage.”

The donations for the U.S. Figure Skating’s slew of programs or projects are not poised to be dominated in one cryptocurrency, rather it will be received in multiple cryptocurrencies. The funds will be converted immediately to the United States Dollar and forwarded to the U.S. Figure Skating.

“We continue to look for new and innovative ways to provide funding to the U.S. Figure Skating athletes, clubs, programs, and initiatives,” Executive Director Ramsey Baker said. “Allowing our supporters to give to U.S. Figure Skating using cryptocurrency makes sense in today’s quickly changing financial marketplace. The more avenues available for current and new donors to support the organization, the more we will be able to directly support our athletes and the many programs that service our members.”

Cryptocurrency donations are becoming increasingly popular as many nonprofit organizations seek to tap into the growing hype around cryptocurrencies to attract donations from the closed ring of individuals that have now embraced cryptocurrencies.