Some private institution and NGOs have been noticed by their consistent seeking of funds in order to complete projects. Newly rooted ones always have the idea of sending out proposals and business ideas soliciting funds in other to start something new or complete a project.
Unlike this institutions, UNICEF, took a different approach on how they derive funds to support their day to day activities. Instead of writing letters and proposals, they have tended to a new method. A method where they can Mine Bitcoin (BTC) or cryptocurrency.
Mining Bitcoin (BTC) is known to be energy consuming as some individuals were arrested for tapping into the nation’s power supply in Korea. UNICEF has taken a different approach more or less for consuming energy but in a much efficient way. Instead of mining the currency themselves and consuming power, they send out links for people to use as a means of mining crypto.
This is an innovative method to gather funds, instead of waiting for funds. Institutions and NGOs can tap into the mining business by bringing out more and better means. They can even take the advantage of blockchain or invest into other altcoins which yield a higher profit to support their work.
HOW UNICEF MINING PROCESS WORKS
The United Nations Children’s Fund (UNICEF) in seeking funds took a different approach by seeking to harness supporters’ computers to raise donations via cryptocurrency mining. The innovative method worked by creating a website page.
“The Hope Page” was launched in Australia according to the news report on 30th April. The website mines cryptocurrency with the help of visitors’ computer processing power. The organization described that the site will actually allow Australians to provide help and hope to vulnerable children by simply opening the page “The Hope Page” while they are online.
According to the website, The Hope Page allows visitors to select how much processing power they want to contribute to the mining process. The longer they stay on the site; the more cryptocurrency is mined.
UNICEF stated how safe the mining process was. In their statement, they said, “Mining is perfectly safe for your computer. If you’re ever worried about power consumption, turn down the amount of processing power you’re donating.”
Any mined cryptocurrency is turned into fiat currency and donated to UNICEF Australia to be used for vulnerable children worldwide with life-saving supplies such as safe drinking water, food and vaccines.
The browser miner is powered by an opt-in version of the Coinhive API, AuthedMine, and mines the Monero (XMR) cryptocurrency. According to the director of fundraising and communications for UNICEF Australia, Jennifer Tierney, the organization has been seeking to use emerging technologies to raise awareness about current humanitarian crises and collect donations to support affected children. At press time, over 1,600 people were seen donating computer power to aid the organization.
The approach used by UNICEF can be followed and used or other innovative approaches can be created by non-profit organizations. Instead of waiting for foreign donors to assist, they can invest in cryptocurrencies with a higher interest rate as another option.
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