The United Nations (UN), in its search to improve each of its projects, began accepting donations in cryptocurrencies since 2017 in different programs. UNICEF and the World Food Program are two emblematic cases of these practices.
Now, this organization with great international influence, has decided to use digital currencies for its current main project: the Sustainable Development Goals.
The Sustainable Development Goals, better known as SDGs, are a set of goals that the member countries of the UN have committed to fulfill by the year 2030, which include ending hunger, seeking gender equality and ensuring because justice, peace and prosperity prevail.
To achieve this, the organization has created the ODS Impact Fund, which will be managed by Celsius Network, a decentralized lending platform that uses Blockchain and cryptocurrencies.
According to the announcement, this fund will be launched by Fifth Element, a financial services firm, and its objective will be to raise millions of dollars and then distribute them in order to meet the objectives set.
A particularity of the Impact Fund of the SDGs is that it will be the first of its kind to accept both fiat money and digital currencies, which is a breakthrough and opens the doors to many opportunities for the United Nations.
From Celsius Network, they are quite optimistic with the proposal, as they ensure they will be able to "restore power to people" by providing first level banking services, normally reserved for owners of a large number of assets.
CoinTelegraph reported that, according to the CEO of the company, Alex Mashinsky, "by offering earned interest rates of up to 7.1 percent, we allow individuals to obtain the same passive income that Wall Street has been generating for years."
"We see a great opportunity to use this technology to deliver the value collected by different UN organizations in a more accurate and effective way to the people and organizations that need it the most," said Celsius consultant Scott Stornetta.
The union of Celsius Network, Fifth Element and the United Nations is extremely promising, not only because it shows that cryptocurrencies can be used for good, cleaning up a bit the bad reputation that some detractors insist on promoting; but because it gives the UN a great opportunity to meet the goal of achieving the Sustainable Development Goals by the year 2030.