UNICEF accepts crypto donations and WON'T convert them to fiat
This is some big news that has mostly gone unnoticed...
UNICEF announced that they will be accepting cryptocurrency donations.
No big deal right?
Lots of places are accepting crypto these days only to use some third party currency converter to immediately exchange them for fiat.
Well, UNICEF won't be one of those.
According to the news report released yesterday, UNICEF will be holding all crypto donations in their donated form and not converting them to fiat or other cryptocurrencies.
(Source: https://themerkle.com/unicef-will-not-convert-bitcoin-and-ethereum-donations-to-fiat-currency/)
This is quietly a very big deal
I mean does it really help bitcoin adoption if your favorite store accepts bitcoin only to have it converted to fiat dollars before it ever actually hits their register?
I mean it helps, sure, but overall we really want these things to be accepted and held and then used again by the ones accepting it.
Creating an actual monetary system/network in the process.
Well that is exactly how things will go with the new crypto fund announced by UNICEF.
Some details...
UNICEF will only be accepting bitcoin and ether to start with.
That is no surprise as those are the two most valuable and most liquid of any crytocurrency out there.
Not only are they accepting crypto donations, they will also be distributing out the same crypto without converting it or exchanging it for something else first.
UNICEF says these are truly global currencies and some of the few that can transcend borders easily.
More from the news release can be seen here:
https://themerkle.com/unicef-will-not-convert-bitcoin-and-ethereum-donations-to-fiat-currency/
Stay informed my friends.
-Doc
Interesting that organisation like UNICEF starts to embrass also BTC. Let's see
That would be big if they can accept steem and post on the blockchain what they are doing.
Cool for crypto and big for steem ecosystem
Posted using Partiko iOS
Yes it would, I'd take steem just getting on coinbase in the near term.
Hi! I have a deal to you. Any contact with you?
What kind of deal?
You get the flag. I'm guessing what's going on. By voting for my dtube video and my friends you will be clean. I'll give you back the liquid steem. Today mmmmkkkk311 also flagged me. He claims to be a member of a sp-group that supports a lot of people. I'm mad and I wrote to you. I don't want wars
Posted using Partiko Android
That’s awesome. Charities are constantly converting funds into other currencies and thus have a lot of experience with the percentage bank’s take for that. Really good to remove the middle man for disaster relief work etc.
Posted using Partiko iOS
Yep, agreed.
So how will they use the Bitcoin they get? Have them used as collateral for fiat loans? Or partner with bitcoin vendors so it makes it easier to get goods and services with the donations?
Reading the link it looks like they will be helping build crypto/blockchain centered projects, as well as other things.
That sounds exciting, It's strange to see a charity being so aggressive on adopting blockchain while retailers havent done anything
Congratulations @jrcornel! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :
You can view your badges on your Steem Board and compare to others on the Steem Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPTo support your work, I also upvoted your post!
@tipu curate
Posted using Partiko iOS
Upvoted 👌
ok