• The United Nations High Commissioner for Refugees (UNHCR) has adopted Cardano’s blockchain technology as a new and innovative way of raising funds.
• Through this platform, the humanitarian organization will be able to link other humanitarian communities to achieve a positive impact.
• By staking the ADA token, users can donate while still holding the token in a smart contract for a period of time.
The Cardano token, currently ranked eighth in the cryptocurrency market with a market capitalization of $13.2 billion, has seen a 45.5% increase in value in the past 30 days. In the last 24 hours, however, it has experienced a 0.9% increase, signaling a slowdown in growth. Despite this, the token is still performing strongly and its future outlook remains bullish.
Recently, the United Nations High Commissioner for Refugees (UNHCR) has tapped the Cardano blockchain platform as an alternate approach to supporting unfairly displaced people. The humanitarian organization hopes to use this platform to raise funds for those in need. This marks the first time the UN has used blockchain technology to link other humanitarian communities and achieve a positive impact.
The Cardano platform allows crypto users to donate while still holding ADA in a smart contract for a period of time. This program, known as staking, allows users to donate while also earning rewards. This is a great opportunity for donors to make a difference and provide aid to those who need it most.
UNHCR outlined the potential of the Cardano platform in a blog post, stating that it “enables an even larger community to help make a difference and deliver lifesaving assistance to those most in need.” This is a great example of how blockchain technology can be used to help those in need.
With the adoption of the Cardano blockchain, the humanitarian organization will be able to tap into a greater donor base and provide more aid to those in need. This is an exciting development for both the humanitarian organization and the Cardano token, as it will likely lead to an increase in the token’s value as more people buy it for staking purposes.
As Cardano continues to be adopted by various organizations, its use cases as a smart contract platform will grow, and so will its value. This could lead to ADA reaching its all-time high of $10 soon.