Ethereum Foundation President Aya Miyaguchi recently joined a discussion with UNICEF innovation leader and Giga founder Christopher Fabian to explore how blockchain and cryptocurrency are transforming global humanitarian efforts. The conversation, held at ETHPrague, revisited the origins of UNICEF’s journey into the crypto space, highlighting the launch of its groundbreaking CryptoFund in 2019.

UNICEF’s Early Foray into Blockchain and Cryptocurrency

In 2018, the United Nations Children’s Fund (UNICEF) began exploring blockchain technology as a means to revolutionize how it receives and distributes donations globally. Christopher Fabian, who transitioned from startups to spearhead UNICEF’s innovation initiatives, shared the challenges of introducing an organization like UNICEF to the potential of blockchain and cryptocurrency.

“It was 2018. Misunderstandings about blockchain and crypto made it harder to gain adoption, and even today, these same misconceptions hinder governments from embracing certain technologies,” Fabian noted.

Fabian used relatable analogies to explain the technology. He compared blockchain to a motorcycle delivering vaccines to remote areas, emphasizing that cryptocurrency is simply a vehicle to store and circulate funds. He also likened crypto to a fungus growing on trees, where the trees symbolize rigid institutions like governments and international organizations. Fabian stressed the importance of organic integration rather than forcing change.

Collaboration Between Ethereum Foundation and UNICEF

Aya Miyaguchi shared insights into how her collaboration with UNICEF began. She met Christopher Fabian in Japan during DevCon in Osaka and was impressed by his understanding of how blockchain could be applied to humanitarian projects. Recognizing a shared vision, Miyaguchi facilitated a partnership between the Ethereum Foundation and UNICEF, paving the way for innovative uses of blockchain technology.

“It wasn’t just about working with UNICEF because of their name. It had to be the right team with a shared vision for driving meaningful change,” Miyaguchi explained.

The Birth of UNICEF’s CryptoFund

In October 2019, UNICEF officially launched its CryptoFund, becoming the first UN organization to create a financial vehicle specifically for cryptocurrency. The fund allows UNICEF to receive, hold, and disburse cryptocurrencies to support innovative projects. Initially, the CryptoFund provided 125 ETH to eight emerging technology companies. Over time, the initiative expanded to support larger projects like Giga, a venture co-founded by Fabian to bring internet connectivity and technology to underserved populations worldwide.

Key Takeaways for Crypto Enthusiasts

For those new to cryptocurrency and blockchain, here are some important lessons from UNICEF’s journey:

  • Blockchain adoption takes time: Large institutions may resist change initially, but gradual and organic integration can yield significant results.
  • Collaboration is critical: Partnerships between innovative organizations and established entities can drive meaningful advancements.
  • Real-world applications matter: Using blockchain for humanitarian purposes demonstrates its potential beyond financial transactions.

UNICEF’s CryptoFund serves as a testament to how blockchain and cryptocurrency can address global challenges, offering a blueprint for other organizations to follow. As the technology continues to evolve, its role in fostering innovation and creating social impact will likely grow.

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