The United Nations High Commissioner for Refugees (UNHCR) has won an innovation award for its use of cryptocurrency to support internally displaced Ukrainians.
The program provides direct cash assistance in USD Coin (USDC) to approved aid recipients, who can receive the funds by downloading the Vibrant app wallet.
The UNHCR’s use of crypto is a groundbreaking approach to humanitarian aid, offering an innovative solution to support those who have been forced to flee their homes due to conflict or persecution. The use of crypto donations enables the UNHCR to provide aid in a secure, efficient, and transparent manner, ensuring that the funds reach those who need them most.
The award recognizes the UNHCR’s efforts to leverage technology to support refugees and displaced persons. By using crypto donations, the agency can reduce costs, increase efficiency, and offer a more flexible and accessible form of aid delivery.
The Vibrant app wallet provides a user-friendly interface that simplifies the process of receiving and managing crypto donations, making it easy for recipients to access the aid they need.
Mohammad Ali is a fintech and cryptocurrency writer who has been covering the intersection of finance and technology for several years. Ali has a deep understanding of the financial industry and the ways in which technology is changing it, with a special focus on the rise of digital currencies and blockchain technology.
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