Should Beijing look at its crypto ban? A former bank member believes so
A former member of the Monetary Policy Committee at the People’s Bank of China believes the ban on China should be reconsidered.
Eight technology-focused companies from different emergent economies will be receiving a portion of Ethereum cryptocurrency (ETH)from the United Nations Children’s Fund (UNICEF) to assist in building various humanitarian initiatives.
As announced by UNICEF, this stands as its largest cryptocurrency investment to date. The funding will be geared towards startups dedicated to building projects to solve local and global challenges. The organisation is donating 125 ETH towards the eight companies (translating to almost $30,000 USD at the time of writing) to use towards prototyping their projects and scaling their initiatives over the next six months.
The eight companies, working in fields across seven economies, are listed as:
Bitcoin and cryptocurrency provide the unique ability to transfer funds across the world. Ethereum offers the additional benefit of speedy transaction times as well as minimal fees.
As UNICEF Ventures co-lead Chris Fabian stated:
“We are seeing the digital world come at us more quickly than we could have imagined – and UNICEF must be able to use all of the tools of this new world to help children today and tomorrow. The transfer of these funds – to eight companies in seven countries around the world – took less than 20 minutes and cost us less than $20. Almost instant global movement of value, fees of less than 0.00009% of the total amount transferred, and real-time transparency for our donors and supporters are the types of tools we are excited about.”
A former member of the Monetary Policy Committee at the People’s Bank of China believes the ban on China should be reconsidered.
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