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Bitcoin and Ethereum Donations Now Accepted by UNICEF Through Its Newly-Established Crypto Fund

  • Alex Dovbnya
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    The UNICEF Cryptocurrency Fund will allow the organization to receive, hold, and distribute donations made in Bitcoin and Ethereum

Bitcoin and Ethereum Donations Now Accepted by UNICEF Through Its Newly-Established Crypto Fund
Cover image via www.123rf.com

UNICEF, an international organization that provides food and healthcare to disadvantaged children, has made an announcement about the establishment of a cryptocurrency fund for accepting donations in Bitcoin and Ethereum. 

The Swiss-based Ethereum Foundation made the very first contribution, which amounts to 1 BTC and 10,000 ETH. It is worth noting that the organization received more than $15 bln in donations, which signifies the need for implementing financial innovations.

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UNICEF Executive Director Henrietta Fore claims that they need to explore the opportunities that are given by the emerging digital economy.        

  “If digital economies and currencies have the potential to shape the lives of coming generations, it is important that we explore the opportunities they offer." 

In its press release, the agency states that it keeps exploring the pros and cons of Blockchain as well as other disruptive technologies.  

With cryptocurrencies, it is much easier to control the spending of all contributions given that all transactions are recorded on an immutable ledger. This makes the process more transparent and eliminates corruption within UNICEF.

As reported by U.Today, the Litecoin Foundation recently announced a partnership with UNICEF Kid Power to reward children for making valuable contributions to their communities.      

 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Bitcoin in Danger as New Research Shows Google Has Achieved Breakthrough in Quantum Computing

  • Alex Dovbnya
    📰 News

    Google's quantum computer is still too primitive to pose a threat for Bitcoin's cryptography, but things could escalate quickly

Bitcoin in Danger as New Research Shows Google Has Achieved Breakthrough in Quantum Computing
Cover image via www.123rf.com
Contents

According to a new research paper published in science journal Nature, Google's quantum computer is able to perform calculations in just three minutes. To put this into perspective, it would take the fastest supercomputer about 10,000 years to perform the same operation, which signifies a major tech milestone for the search behemoth. 

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Google achieves "quantum supremacy"

Back in September, the Financial Times reported that Google has managed to achieve "quantum supremacy," which means that its beast is able to perform calculations that would be impossible to pull off with any other computer. 

However, technology is still way too fragile for commercialization, which is unlikely to happen anytime soon. There is hardly any practical application for quantum computers, but they do have great potential for disrupting a lot of industries, such as finance and transportation.   

Considering that the Trump administration has funneled a whopping $1.2 bln into the development of quantum computing, it might stop being just a buzz word. 

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Will Google's quantum success affect Bitcoin

There is also one notable application for quantum computing -- hacking Bitcoin. The headlines about Google's super-powerful juggernaut has made many wonder whether Bitcoin, whose value derives from the immutability of its Blockchain, is in danger. 

However, ex-Bitcoin Core developer Peter Todd reassured the confused crypto crowd that Google was nowhere near breaking the top coin's cryptography. On top of that, it's not even clear whether quantum computers could potentially be scalable enough for commercial use. 

Bitcoin evangelist Andreas Antonopoulos also opined that Google's quantum breakthrough would have no impact on the orange coin. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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