UNICEF Ventures, a branch of the United Nations International Children’s Emergency Fund (UNICEF) focused on innovation, is testing Ethereum-based smart contracts as a tool for improved efficiency, transparency and accountability for the transfer of assets across the internet.
According to unicefstories.org, UNICEF Ventures is beginning its first explorations into this emerging technology. It is launching a smart contract to receive Ether tokens which will be used as “Gas” – the fuel needed to interact with the Ethereum Blockchain.
The contract’s initial actions would be validated by authorized accounts. This means that in the future, anyone could look and track the transactions.
All the work on the network, along with the individuals involved in authorizing and testing the contracts, are also fully, publicly auditable.
UNICEF Ventures invests in early stage solutions that show great potential to positively impact children. This investment comes from UNICEF Innovation Fund, a pooled funding vehicle that invests in open source technology solutions coming from startups based in UNICEF’s programme countries. UNICEF Ventures assesses and prototypes emerging technology that can provide a portfolio of solutions to its organization as early-stage tech matures.
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