The United Nations International Children Education Fund (UNICEF) has joined the league of individuals, Start-ups, entrepreneur, organizations that make use of cryptocurrency mining to raise funds. UNICEF has started a fundraising campaign in which people are asked to contribute their computer’s processing power for the sole aim of cryptocurrency mining. This occurrence is perhaps the first of its kind by a charity organization. The launch was carried out by the Australian chapter of UNICEF. This was done by setting up a webpage which is known as the Hopepage. Through this webpage, visitors have the alternative of donating between 20 to 80% of their computing power. This is to enable the mining of a cryptocurrency which is known as monero.
How is this Occurrence Expected to Work out?
The Australian branch of UNICEF is concerned about the countless number of crises that are taking place in various parts of the world and is looking to leverage on the presence of latest technologies to create awareness about these numerous humanitarian crises. In addition to creating awareness, UNICEF is hoping to come to the aid of children that are affected by these crises. Now, seeing that one of the latest technologies today is cryptocurrency, UNICEF is hoping to take advantage of the acceptance of digital currency to raise some funds for children that are affected by the crises in Myanmar. This will be done by mining cryptocurrency and then raising funds from the generated units of cryptocurrency.
How Cryptocurrency Mining is used to Raise Funds
According to Hopepage, cryptocurrency algorithms are solved by taking advantage of donors’ computer processing power. The more times a donor stays on the webpage that is set aside for this donation, the more the processing power that is contributed. As more processing power is donated, more algorithms are unravelled and more cryptocurrency is earned.
When earned, the cryptocurrency gets donated to UNICEF Australia and is converted to funds and then used to support children that are affected by crises. This is done by getting them vaccines, food, and good water.
What is the Response Like?
As it stands, well over 6,700 people have already donated their processing power, and this number is increasing as the days go by. Although this process of raising funds is known to consume a lot of electricity, the fact that the proceeds are used to help the less privileged definitely counts for a lot for this project.