[WATCH] 3 of the 7 Blockchain startups that will win the UNICEF 2021 Innovation CryptoFund are African
The UNICEF Innovation Fund has announced the 7 new startups for the first cohort of its UNICEF CryptoFund, of which 3 are from Africa.
The Fund received more than 400 applications in more than 70 UNICEF program countries.
SEE ALSO: Do you have a financial solution for Africa? UNICEF wants to finance your Blockchain project
According to UNICEF:
“This round of investments marks the first time a cohort has received both US dollars and cryptocurrency, as well as the first cohort with more than 50% of businesses headed by women.
The cohort is also expanding the Fund’s portfolio in Rwanda.
The 7 startups include:
- Xcapit (Argentina) – A platform that increases easy and secure access to financial services, including planning, gamified savings and wealth management tools. Funding amount – 43.78 ETH
- Basic economy (Kenya) – An organization integrating an Emergency Response + Recovery platform where responders and communities can access digital payments and vital information, while remotely tracking project KPIs. Funding amount – 40.50 ETH
- Somish Blockchain Laboratories (India) – A startup that is building an open, permissionless protocol for decentralized governance, creating decision-making structures for DAOs. Funding amount – $ 50,000
- BX Smart Labs (Mexico) – A startup developing a decentralized application for savings circles, leveraging smart contracts to automate user payments and withdrawals. Funding amount – 18.87 ETH
- Leaf’s Global FinTech (Rwanda) – A startup developing a virtual bank for refugees and vulnerable populations, allowing the storage and transfer of assets across borders. Funding amount – $ 48,900 & 20.69 ETH
- Rumsan Associates (Nepal) – A startup developing a digital cash and voucher assistance management system, using mobile blockchain tokens for emergency response and recovery programs. Funding amount – $ 100,000
- Pay Kotani (Kenya) – A startup developing a platform for transfers, remittances, savings, withdrawals, loans and payments and integrating solutions that allow users to easily interact with crypto. Funding amount – 19.88 ETH
This is the second cohort of investments in blockchain solutions by UNICEF as part of its broader explorations of blockchain technology and smart contracts with the aim of:
- Improve the efficiency and transparency of the organization
- Leverage innovative financing models to allocate resources
- Incite and encourage the creation of open source digital public goods
About UNICEF CryptoFund
The CryptoFund is a common fund of bitcoin and ether. It is part of the UNICEF Innovation Fund, with the difference that investments made through the CryptoFund are denominated in crypto.
The CryptoFund is a prototype fund for UNICEF to explore the use of digital currencies and what it means to operate in a digitally funded future.
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