LONDON, April 6, 2021 / PRNewswire / – Huobi Group, the world’s leading blockchain company, announced today that its philanthropic arm Huobi Charity Limited (“Huobi Charity”) is being regulated by the Charity Commissioners of Gibraltar (Registration number 324) $ 1 million in Bitcoin (BTC) and Fiat currency to UNICEF to promote global blockchain development and innovations with the potential to influence children and young people around the world. The funds will go to the UNICEF CryptoFund, a new financial instrument that allows UNICEF to receive, hold and withdraw cryptocurrency, and to the UNICEF Innovation Fund, a pool fund specifically designed to fund early-stage open source technologies, the children can benefit, distributed. The innovation fund has received contributions from $ 34.9 million, 2267 ETH and 8 BTC. The donation is the first large-scale institutional BTC donation accepted by UNICEF.
Given the global adoption of digital currencies like BTC, large institutions and organizations like UNICEF are employing blockchain and cryptocurrency as well as other forms of new technologies in their initiatives to expand services and opportunities for people around the world. CryptoFund and UNICEF’s Innovation Fund offer early-stage startups in both fiat and cryptocurrency investments to accelerate technological innovation for the benefit of children around the world.
Launched in 2016, the UNICEF Innovation Fund is the first financial instrument of its kind in the United Nations to invest in early-stage open source technologies that have the potential to have an impact on children on a global scale. Its main motivation is to identify “clusters” or portfolios of new technology initiatives so that UNICEF can both shape markets and learn about and guide these technologies for the benefit of children. The fund invests in bundled solutions $ 100 billion Industries in technology spaces such as blockchain, virtual and augmented reality, machine learning and artificial intelligence.
UNICEF’s CryptoFund is a new financial instrument with which UNICEF can receive, hold and pay out cryptocurrency – a first for the UN. The CryptoFund wants to make donors and the public visible and add transparent accounting to the donation process, all of which are visible on the CryptoFund website (https://cryptofund.unicef.io/). By distributing the funds in cryptocurrency, UNICEF, donors, recipients and the public can see where the assets are flowing and how they are being spent, ensuring an unprecedented level of transparency regarding funds and NGOs. With the CryptoFund, UNICEF can examine what it means to operate in a digitally funded future.
“Huobi Charity shares UNICEF’s vision of balancing today’s challenges with tomorrow’s solutions, including by advancing decentralized open source technology that children and young people can benefit from,” he said Thomas Davin, Director, Office for Innovation at UNICEF. “Together, Huobi Charity and UNICEF aim to influence the impact of crypto on driving and accelerate outcomes for children.”
The Huobi Group has long been committed to driving blockchain innovations and assumptions around the world. As the industry matures, Huobi seeks new ways to harness its resources and influence and contribute to a better future, both for the global economy and for society at large.
“We are very excited about this donation to UNICEF as we investigate the integration of blockchain technologies into other industries,” said Leon LI, founder and CEO of the Huobi Group. “Our focus is on the future, so we recognize the importance of UNICEF’s work and the importance of supporting and promoting the growth and development of children around the world.”
As part of the $ 1 million Huobi has already donated seven BTC to the UNICEF CryptoFund, which was estimated to be worth $ 350,000 at the time of donation. The remainder will be distributed to the UNICEF Innovation Fund over the next three years to support early-stage open source projects and UNICEF’s ongoing explorations towards a digitally funded future.
In addition to its donation to UNICEF, Huobi Charity aims to leverage blockchain technology and digital assets to create a fair and just future and address societal issues such as poverty, education, healthcare, culture and more. As an officially recognized and registered charity, Huobi Charity operates in full transparency and according to the standards of the registered charity.
About the Huobi Group
As a global leader in the blockchain industry, Huobi Group was founded in 2013 with the aim of making breakthroughs in blockchain core technology and the integration of blockchain technology and other industries. The Huobi Group has expanded to include the public chain, digital asset trading and wallet, mining pool, own investment, incubation, digital asset research, etc., and building a global ecosystem of the blockchain industry by investing in over 60 upstream and downstream companies in the blockchain industry digital business sector built. and formed a global ecology of the global digital economy. Further information can be found at https://blog.hbg.com/.
UNICEF works in some of the world’s toughest places to reach the world’s most disadvantaged children. In more than 190 countries and territories, we work for every child everywhere to create a better world for all. More information about UNICEF and its work for children can be found at www.unicef.org. Follow us on Twitter and Facebook.
UNICEF does not endorse any company, brand, product or service.
SOURCE Huobi Charity