Points to Remember:
- UNICEF will be the first UN organisation to accept and disburse donations in cryptocurrencies bitcoin and ether.
- UNICEF will send the funds to a charitable cause in that same tender.
- It will only leverage bitcoin and ether for short-term programs.
- The Ethereum Foundation will be the first contributor to UNICEF’s Cryptocurrency Fund which will benefit three grantees.
What is Cryptocurrency?
- Cryptocurrency is an internet-based medium of exchange which uses cryptographic functions to conduct financial transactions.
- Cryptocurrencies leverage blockchain technology to gain decentralization, transparency, and immutability.
Important Possible questions based on above News:
- Which UN organisation will be the first to accept and disburse donations in cryptocurrencies? UNICEF
- The UN children’s agency, UNICEF, has now started accepting and disbursing donations through which two cryptocurrencies? ether and bitcoin
- In which year, the first decentralized cryptocurrency, bitcoin, was created by pseudonymous developer Satoshi Nakamoto? 2009