Ethereum Classic Labs commits $ 1M to UNICEF-supported blockchain startups

Ethereum Classic Labs announced funding $ 1 million Has blockchain startups already supported byUNICEF.

According to a press release, ETC Classic Labs has partnered with the UNICEF. Young shoots specializing in blockchain supported byUNICEF will receive funds and follow-up from the organization in charge of the network Ethereum Classic.

ETC Classic Lab plans to invest $ 750,000 in startups and $ 250,000 directly in the UNICEF innovation fund to promote the adoption of solutions based on blockchain.

ETC Labs pledged to go ahead and deliver on the blockchain’s original promise to deliver meaningful social impact solutions. We are honored to work withUNICEF, ”Said Terry Culver, CEO of ETC Labs.

ETC Labs has already selected 3 young companies that were already supported by UNICEF, namely the AI ​​/ blockchain startup OS City, the blockchain solution provider W3 Engineers and the blockchain health app Prescrypto.

The blockchain technology gives us the opportunity to reexamine existing problems such as transparency and the speed of movement of value in large systems. While there is a lot of buzz around the basics, there are also many opportunities for new organizational efficiencies, "said Chris Fabian, co-director of UNICEF Ventures.

In addition to its innovation fund,UNICEF recently launched " UNICEF Cryptocurrency Fund ", A fund fed by donations in Bitcoin and Ethereum, and which invests in open source technologies benefiting children around the world.