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UNICEF To Fund Startups For Blockchain Innovations

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UNICEF announced a $100,000 fund to six blockchain startups to solve global challenges using blockchain technology.

The United Nations' charity arm for children said that the UNICEF Innovation Fund will invest the money in six companies - Atix Labs from Argentina, Onesmart and Prescrypto from Mexico, Statwig from India, Utopixar from Tunisia and W3 Engineers from Bangladesh - to deliver open-source prototypes of blockchain applications within 12 months.

All these companies hail from developing and emerging economies.

Selected from more than 100 applications across 50 countries, these six companies will build prototypes and systems for global problems like transparency in health-care delivery, affordable access to mobile phone connectivity, and the ability to direct finances and resources to social-impact projects.

Apart from providing the funds, UNICEF's Innovation Fund will also provide product and technology assistance, support with business growth, and access to a network of experts and partners.

These six startups join 20 other technology startups in which the UNICEF's Innovation Fund has already made investments in fields from data science and machine learning, to virtual reality, to drones.

Atix Labs from Argentina will develop a platform for small to medium-sized enterprises to gain access to funding while creating traceability into where the funds are used and measuring the impact.

Mexican start up company Onesmart will address the misappropriation of funds in emerging markets with the scale of its prototype application, which ensures the delivery of state-provided social services to children and young people.

Prescrypto, also from Mexico, will provide a digital solution to the lack of electronic prescriptions in developing countries with a platform that allows medical services providers to view one common history of a patient, and improve the level of care.

Indian firm Statwig will use blockchain solutions to ensure the efficient delivery of vaccines through an enhanced supply-chain management system.

Utopixar, Tunisia, will deliver a social collaboration tool for communities and organisations to facilitate participative decision-making and value transfer.

W3 Engineers from Bangladesh will improve connectivity within the refugee and migrant communities through an offline mobile networking platform without the use of sim cards and internet connection.

The UNICEF has been recently seen using crypto mining in Australia for fundraising and blockchain technology to help raise funds to support children in the war-torn Syria.

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