UNICEF Partners with Ethereum Hackathon ETHDenver on a Blockchain Token Reward System

The Ethereum hardware hackathon ETHDenver has announced that they are partnering with UNICEF on a blockchain token reward system. The token aims to encourage developers to create projects that would benefit society. ETHDenver has joined hands with UNICEF Ventures, UNICEF France and ETH startup Bounties Network to build a prototype. The hackathon organizers have labeled the token as a “digital public acknowledgment of positive actions.” ETHDenver is to be held in Denver, Colorado from February 15 to 17.

The token is part of a program called “The Impact Track” that offers attendees the chance to create a project with impressive tech specs that make a real-world difference. The token, presently, is unnamed. The creators, however, are appealing to ETHDenver participants to come up with one.

“The program encourages developers to think systematically about the positive social impact of a given piece of technical innovation,” said ETHDenver Diversity and Impact Steward Nick Rodrigues. “For example, if someone had a project where they happened to develop a way to shard more efficiently which therefore required less energy consumption, they would be meeting a sustainable development goal.”

The said token cannot be exchanged with regular fiat currency, as they will be non-monetary, value-driven community coin. The tokens can be used by the participants to get early access to future UNICEF and Impact Track events, mentorship sessions, incubator-style support, and such events.

ETHDenver and MakerDAO (MKR), the blockchain startup which innovated Ethereum-collateralized stablecoin Dai (DAI), have also announced the creation of a localcoin which will be used to drive the economy of ETHDenver. Every attendee will receive their unique web wallet called “xDai” that will be pre-loaded with a localcoin called buffiDai. This localcoin is pegged to Dai and can be used to pay for food, swag, drinks, activities, and NFT’s at the event, as well as being accepted at some local businesses.

As per their website, ETHDenver is the largest Ethereum-based blockchain hackathon in the world for Ethereum enthusiasts and developers. The event will be one and a half day long and will include talks and workshops given by top blockchain influencers and Ethereum experts. The main aim of the event is to contribute to the Ethereum ecosystem, whether by building decentralized applications (dApps), adding to or starting infrastructure level projects, etc.

United Nations Children’s Fund (UNICEF) has been actively foraying into the blockchain space with quite many new projects with the aim of creating better transparency, finding new ways to donate money and create new opportunities. Positive Action Token is just one of their many new initiatives.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

Related Articles

Back to top button