United Nations International Children’s Fund, UNICEF has partnered with H&M Conscious Foundation to launch Unicoin, the first cryptocurrency dedicated to do good. Unlike other currencies, Unicoin is powered by the imagination of children and not by any other fiat currency or digital currency.
How to obtain Unicoin?
There is only one way anyone can lay their hands on Unicoin, that’s by exchanging a drawing made by a child. In order to exchange the drawing, one has to do it together with the child who drew it.
Where to spend Unicoin?
Unicoin has only one purpose — empowering children by providing them access to learning opportunities and staying true to it, Unicoin can be used only to buy stationery and education supplies.
It is scientifically proven that children possesses the ability to learn new things rapidly during the first 8 years of their life. It is also found that by educating children coming from disadvantaged backgrounds early in life can increase the chances of them having a better outcome, creating a better future.
Unicoin is created as a way to create awareness about the importance of educating children while providing a way for individuals to contribute for the cause.
How does Unicoin work?
Unicoin is created as a way for H&M Conscious Foundation to fund UNICEF’s program. When children upload a drawing along with their guardian on Unicoin’s website and exchanges it for Unicoin, the H&M Conscious Foundation contributes a notebook and a pencil for UNICEF’s program. So, someone with Unicoin can contribute to UNICEF’s program by paying it for a notebook and a pencil which will be matched by H&M.
H&M Conscious Foundation has set aside a grant of about $9.3 Million for UNICEF’s Early Childhood Development programs over a period of three years. With this grant, H&M aims to help UNICEF reach out to over 73,600 children and convince governments to include Early Childhood Development programs in their welfare activities.
What do others get out of Unicoin?
There is no monetary benefits one can get out of Unicoin, but they can definitely get some good karma by spending those Unicoins for children’s education. But Unicoin ensures that everyone becomes aware of the importance of educating children in developing nations and UNICEF’s Early Childhood Development program working towards it.