For over seven decades, UNICEF has been providing humanitarian and developmental assistance to children and families in need in over 190 countries. Relying substantially on donations, people have long been urged to give money so that the organization can continue to provide food, water, shelter, vaccines, and education to those who require it.
However, while fiat currency has always been the funding option of choice, the Australian branch of UNICEF has upped its efforts and now offers cryptocurrency miners the option of donating their processing power.
On a page set up called The Hopepage, miners can now donate 20 percent or 80 percent of their computer’s processing power to generate the coin Monero. Monero’s value at the time of writing was 241.45 US Dollars.
This dramatic move aimed to ensure that donation methods were future-proofed and that all avenues were explored to raise funds for those in need. Cryptocurrency is already accepted as a valid donation, so processing power is just taking it one step further. All funds raised through solving the complex puzzles in the mining process will go toward the Rohingya refugee crisis in Myanmar. By April 3, 2018, close to 7,500 people had donated their computer’s processing power.
The process of donating was simple and involved just a three-step process. Once you enter the Hopepage, you choose how much computer processing power you wish to give and your web browser begins the process. The longer you stay on the webpage, the more processing power you’re able to give at the rate you previously set. Then, when you exit, Monero that was mined as a result of your processing power is donated to UNICEF Australia.
This unique way of raising funds for charities may pave the way for new funding methods for various organizations throughout the world. However, those donating must be aware that you cannot claim tax back on this donation method.