ETC Labs supports UNICEF with 1 million USD

Ethereum Classic Labs and UNICEF are working together to advance block-chain-based solutions to some of the world’s most pressing problems. Through financial support and the use of innovative blockchain technology, the partners aim to improve people’s lives.

“The ultimate goal is to fulfill the block chain’s promise to improve people’s lives with Ethereum Classic, one of the largest public block chains in the world.” This is how the Ethereum Classic Labs team describes its mission. The organisation pursues this goal through various partnerships, including in the humanitarian field. Specifically, ETC Labs has now announced its cooperation with the UNICEF Innovation Fund.

ETC Labs is making one million US dollars available for this purpose. Of this, 750,000 US dollars will go directly to graduates of the UNICEF Innovation Fund and 250,000 US dollars will go to the Innovation Fund. In addition, the ETC Labs Accelerate development team will provide mentoring and training to selected block-chain start-ups.

 

A better world thanks to Blockchain?

In October, UNICEF announced that it will accept donations of Bitcoin and ether. The aid organization has set up a fund for crypto currencies for this purpose. At that time, the Ethereum Foundation was the first organization to donate to the new project. UNICEF was the first of the large non-profit organizations to recognize how valuable the Blockchain technology can be in the fight for a world without poverty. In the past, the relief organization has already supported Blockchain start-ups. These include projects in the health sector or in the financial inclusion of developing countries.

Since 2016, the UNICEF Office of Innovation has been working worldwide on solutions to how Blockchain can be used for the benefit of children. The team cooperates with investors, donors and partners and invests in promising projects through its Venture Fund. The blockchain and crypto movement in turn benefits from this commitment – an ideal win-win situation. Finally, as a non-profit foundation, the Ethereum Foundation has set itself the goal of providing the world with decentralized protocols and tools. This is to create a globally accessible, free and trustworthy Internet.

 

Different projects, one vision

With Ethereum Classic the intentions are very similar. James Wo, the founder of ETC Labs, emphasizes that the future of blockchain technology depends on use cases with social and economic implications. Terry Culver, Managing Director of ETC Labs, explained that the organisation continues to see the “Blockchain promise” as a way to achieve social change and improve the quality of life. The collaboration with UNICEF is based on this shared vision.