Blockchain systems have no central points of control, are powered by the internet, and are governed by computer code normally referred to as smart contracts. Digital currencies (e.g bitcoin) are famous applications of blockchain technologies, nevertheless, these technologies have promises that go beyond currencies or financial transactions.
UNICEF Innovation Ventures team explores these technologies, with the potential to impact children. The team sees blockchain technology as having benefits in 3 main ways: 1) new ways of donating money 2) creating better transparency in internal processes, and 3) leveraging tokenisation to reduce friction in transactions, as well as create new opportunities.
To understand the technical, social, ethical, and legal challenges of utilizing blockchain technologies in our complex and interconnected world — the team is exploring this space with open eyes on practical experimentations of cryptocurrencies, smart contracts, digital scarcity, digital collectibles and various types of tokens.