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UNICEF looking to invest in early stage start-ups developing software solutions on open blockchain

UNICEF looking to invest in early stage start-ups developing software solutions on open blockchains
UNICEF looking to invest in early stage start-ups developing software solutions on open blockchains

The UNICEF Innovation Fund [1] is looking to invest in companies developing software solutions on open blockchains [2].

UNICEF will provide $50-90,000 in the form of equity-free investments in early-stage (seed) finance to for-profit technology start-ups that have the potential to benefit humanity.

The Fund is looking for start-ups registered in one of UNICEF’s programme countries with a working, open-source prototype (or if they are willing to make it open-source). The solutions should be scalable and globally applicable.

Software solutions could be related to smart contracts, data analysis, crypto-tokens or crypto-currency mining. The Call goes on to provide a non-comprehensive list of potential applications the Fund would be interested in.

For instance, the startups could explore the use of smart contracts to replicate and improve on existing organisational mechanisms; enhance efficiencies, transparencies, and accountabilities in contractual engagements (i.e. multi-signatory contracts that guarantee certain actors were involved); boost transparency in distribution of resources by better tracking of movement of money; or support interactions across groups (what would a SWIFT
code for development look like, if described in Solidity)

The UNICEF Innovation Fund is also interested in using machine learning to understand the activities on public blockchains; using crypto-flows to help organisations and governments do and understand their transactions more efficiently; or using blockchain data to solve humanitarian challenges, for example, using bitcoin data (bitcoin is used for illegal transactions on the dark web because of the anonymity afforded by it) to fight human trafficking.

Crypto tokens could be used to incentivise or support behaviour that benefits humanity or various tokens could be connected to each other. In addition, non-fungible tokens (non-fungible tokens are supposed to represent a real-world asset that is unique and non-divisible unlike cash or other currencies) could be used for social good.

Another example given is the use of passive distributed mining networks to create investment funding opportunities for the UNICEF Venture Fund.

Funding opportunities are not limited to the above-mentioned examples of software solutions.

[1] The UNICEF Innovation Fund is a pooled funding vehicle to quickly assess, fund and grow open-source solutions that have been developed in new and emerging markets. It invests in solutions that can impact the lives of the most vulnerable children. The Fund finds that these solutions are clustered around $100 billion industries in frontier technology spaces, such as blockchain, UAVs, virtual and augmented reality, 3D printing, machine learning, quantum computing, genetic engineering, Internet of Things, artificial intelligence, nano-satellites and human dynamics.

[2] Open or public, permissionless blockchains are blockchains in which anyone can participate in principle. Anyone can connect to the protocol and either transact over the blockchain or view the transactions taking place on the blockchain. The network usually will have an incentivising mechanism to encourage more participants to join the network. An example would be the bitcoin network. In contrast, only parties who have been granted access (‘permission’) may participate in transacting, mining, or viewing transactions in private, permissioned blockchains.
Permission could be granted by existing participants; or by a regulatory authority or a consortium. Hyperledger Fabric and Ripple are examples. Both types are decentralised peer-to-peer networks, where each participant maintains a replica of a shared append-only ledger of digitally signed transactions.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

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CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

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HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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