The United Nations International Children’s Emergency Fund is evidently seeing a lot of promise in blockchain technology and its ability to renovate industries.
The innovation fund has targeted numerous startup firms which concentrate in technology sectors such as: data science, virtual reality and machine learning.
Therefore, UNICEF organization has invested $100,000 in six startups, in order to resolve global challenges whilst using blockchain technology.
These investments are part of a broader program that is currently funding 20 tech startups with the aim of fostering innovation.
The projects were chosen from a field of 100 applicants from close to 50 countries. The winners have the task of creating open-source models of DLT (distributed ledger technology) applications within the next year.
You might be wondering who and where the companies are from.
The six Blockchain Start-ups are:
- Atix Labs-an online
crowd fundingplatform from Argentina, which facilitates access for SMEs whilst guaranteeing traceabilityof funds by using DLT technologies.
- Onesmart – A project from Mexico whose goal is to reduce corruption in developing markets by the embezzlement of state money when offering social services to those in need.
- Prescrypto-A platform used to manage medical records in Mexico, which uses blockchain applications to show the complete medical accounts of patients.
- Statwig – A vaccination supply chain system in India whose goal is to create a DLT-powered supply chain for the delivery of vaccines.
- Utopixar – A Tunisian project which explores the application of blockchain technology in community governance, with the aim of improving decision-making through communities in developing countries.
- W3 Engineers – A startup from Bangladesh which aims to provide offline mobile access between refugees and economic migrants without the use of either cellular phone technology or the internet.
Besides funding, startups will receive continuous assistance in the creation of the project and guidance on how to keep growing their businesses.
As explained in a statement, the principal advisor of the fund, Chris Fabian, stated that the fund decides to invest in projects which help the technology grow and mature in the
Furthermore, he stated that while blockchain technology is in its infancy stages, they are trying to see how they can use it to improve our world.
Designing their own native tokens and having a crypto-denominated fund are things in their roadmap in the near future.
UNICEF organization has been a close observer of blockchain technology for years, more specifically having used smart contracts in trials and investing in a startup that was identity-focused.