Ethereum Classic Labs commits $1 million with UNICEF for blockchain-based social impact


Ethereum Classic Labs (ETC Labs) has committed $1 million (£763,720) towards launching a key partnership with the UNICEF Innovation Fund.

Blockchain startups, working on social impact projects in emerging markets with support from UNICEF Innovation Fund will be selected to receive follow-on development funding from ETC Labs. Project teams will also get ETC Labs training and mentorship that will help expanding the availability and use of impactful blockchain applications that solve social issues.

ETC Labs will invest $750,000 (£572k) directly in global startups that have graduated from the UNICEF Innovation Fund. Additionally, the blockchain companies selected from the UNICEF Innovation Fund portfolio will receive support for project creation from the developer team at ETC Labs Accelerate. The program provides developer training and mentoring to build products and services for a range of use cases of Ethereum Classic.

Under the partnership, ETC Labs will contribute an additional $250,000 to the UNICEF Innovation Fund. The investment will help them promote the creation of digital public goods and the adoption, use, and development of blockchain solutions across the ecosystem.

UNICEF has funded 39 startups in 23 countries and will continue to support early stage, open-source projects.

Elsewhere, blockchain-powered financial services firm Securrency has secured £13.47 million in its series A funding round led by New York-based WisdomTree Investments as a strategic investor. By investing and collaborating with Securrency, WisdomTree is planning to integrate its blockchain technology into the exchange-traded fund ecosystem to bring the benefits of ETFs to a wider range of investors and improve the investor experience.

Interested in hearing more in person? Find out more at the Blockchain Expo World Series, Global, Europe and North America.

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