With the six blockchain company investment, the United Nations International Children’s Emergency Fund or UNICEF made a “blockchain call” to startups that could profit humanity. UNICEF called for beginning stage startups that listed in the participating countries of UNICEF in January 2018.
Receiving of more than a hundred requests from different nations, UNICEF, already has other technology firms from machine learning and data science to drones and virtual reality in the organization’s Innovation Fund.
The UNICEF release, from the new investments, create parts of a broader blockchain approach for the charitable agency, from the organizational efficiencies of using crypto contracts, forming a disseminated decision-making process and working with a distributed ledger technology to gain information and understanding in both the UNICEF and the United Nations.
The Innovation Fund of UNICEF announced that it would invest in Prescrypto, Atix Labs, Onesmart, Utopixar, W3 Engineers and Statwig with a fund amounting up to $100,000.
Blockchain Solutions in 2019
All the startups within the next 12 months must now submit open-source models of their blockchain bids. Located in Argentina, Atix Labs is structuring a venue for small to medium-sized businesses to access funding wherein offering traceability on how they use the funds.
On the other hand, Onesmart is currently developing an app guaranteeing the transfer of social facilities intending the concerns of the misuse of community fund in the market provided by the state. Meanwhile, the accessibility of electronic prescriptions is Prescrypto’s project by building software for the medical histories of the patients.
To improve the efficiency of vaccine delivery, Statwig is now generating a blockchain resolution for the supply-chain management of injections. Another fantastic project is the offline mobile networking platform is what the W3 Engineers are eager to connect the immigrants and refugees without the use of the internet.
The Principal Adviser of UNICEF Innovation, Chris Fabian said that there will be plenty of experiments, failures, and learning as they advance on how it works to create an improved environment since blockchain technology is still at an early stage.
He also added that UNICEF chooses to finance companies in vulnerable areas. Financing and technical support can help startups grow in the most impartial and fair way possible.
The Innovation Fund by UNICEF will also deliver growth and product aid plus an approach to its network of partners and experts. It will also assist the startup with their next round of investment aside from the seed-stage investment. Further opportunity for UNICEF to bring them into the countries if the development of these technologies is successful.