RATE Group | Nonprofits explore the newest fundraising frontier: Cryptocurrency
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Nonprofits explore the newest fundraising frontier: Cryptocurrency

16 Oct Nonprofits explore the newest fundraising frontier: Cryptocurrency

Posted at 16:47h in Cryptocurrency News by

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A token of the virtual currency Bitcoin is seen placed on a monitor that displays binary digits. Photo by: REUTERS / Dado Ruvic

SAN FRANCISCO — UNICEF can now receive, hold, and disburse digital currency built on blockchain technology with the launch of the UNICEF Cryptocurrency Fund.

Building on its past work with blockchain, UNICEF will use cryptocurrencies — beginning with Bitcoin and Ether — to fund open source technology that benefits children and young people, including startups in the blockchain space.

A growing number of nonprofit organizations accept donations in cryptocurrency, but UNICEF is the first U.N. agency to accept “crypto as crypto without converting it,” said Chris Fabian, who co-founded UNICEF’s Innovation Unit and leads UNICEF Ventures.

“Crypto is scary altogether for nonprofits, and converting it right away is generally the only way they’re willing to touch it.”

— Alex Wilson, co-founder, The Giving Block

“Others have taken crypto and…

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