Unicef accepts donations in Bitcoin and Ether

The use of cryptocurrencies allows child aid organizations to quickly circumvent the cost of shipping cash abroad and increase financial transparency.

The UN organization Unicef has announced that it will now accept and disburse donations in both Bitcoin and Ether

The basis for Unicef's new cryptocurrency is the latest in a series of aid organizations' efforts to test cryptocurrencies, which can transform the donation process and increase financial transparency - says the Guardian report.

The basis for Unicef's new Cryptocurrency Fund is the latest in a series of aid organizations' efforts to test cryptocurrencies, which can transform the donation process and increase financial transparency - says the Guardian report.

The advantage of a decentralized system is that it allows nonprofits to bypass intermediaries who, while being able to transfer large amounts of cash quickly, do so at a high cost.

Christopher Fabian, the chief consultant at Unicef Innovation, said the initiative is preparing the organization for the future while preserving the guarantees built into existing donation systems.

We see this as a piece of learning that we need to go through to prepare for the next decade, - he said.

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