UNICEF launches fund for startups; NEObank offers security tokens

The United Nations Kids’s Fund (UNICEF) has introduced the launch of a fund to assist startups constructing real-world options utilizing rising expertise to guard youngsters on-line.

Based on an official announcement, the UNICEF Enterprise Fund is in search of corporations to experiment with synthetic intelligence (AI) and blockchain in its program nations. The options supplied by the businesses will need to have the “potential to create radical change for kids.”

The fund is principally involved with sensible options that may assist younger folks detect disinformation and construct media literacy on the identical time. Profitable corporations will obtain as a lot as $100,000 in equity-free funding, with UNICEF focusing on early-stage startups with a working prototype.

Corporations that target open supply licenses and practices usually tend to obtain funding from UNICEF than closed-end corporations.

On the prime of the pile for UNICEF is the need to make use of AI and Web3 options to fight disinformation, with the assertion exploring potential functions. UNICEF is keen to fund cross-platform, interactive video games that encourage fact-checking practices and new watermarking options.

The fund’s second goal is to assist corporations that gather massive quantities of information to construct safe AI fashions. Corporations that construct information assortment and administration methods usually tend to obtain funding, whereas people who experiment with options to suppress cognitive biases within the course of shall be favored.

Corporations with options that promote digital belief are more likely to fall underneath UNICEF’s crosshairs, particularly people who construct round decentralized possession and licensing protocols. AI-based options that monitor on-line dangers and DLT-enabled Know Your Buyer (KYC) instruments are more likely to obtain funding.

“We’re actively searching for corporations which might be pushing the boundaries with groundbreaking applied sciences in modern and scalable methods with international relevance,” UNICEF mentioned.

UNICEF works with rising expertise

In recent times, UNICEF has had a protracted and wealthy historical past with rising applied sciences, leaning on blockchain and digital instruments to assist youngsters in want.

Recognizing the potential for seismic change, the UN company has invested greater than $400,000 in creating nations to drive mainstream adoption of blockchain and Web3 applied sciences. Within the fund’s first cohort, corporations from Argentina, Sri Lanka and Nepal acquired a capital injection centered on decentralized options.

In early 2024, UNICEF signed a take care of Blockchain For Impression (BFI) to enhance public well being for kids in India, spending greater than $2 million on the initiative.

NEObank begins providing safety tokens to prospects

As safety tokens acquire momentum, SBI Sumishin Internet Financial institution (NEObank) has joined the pattern with an providing of safety tokens to its prospects, which consultants are calling a disruptive play within the ecosystem.

NEObank will provide safety tokens from Japan-based multinational Mitsui & Co Digital Asset Administration to its practically eight million prospects, in line with a report. The brand new association will see NEObank dabble in safety tokens for the primary time, however it’ll lean on Mitsui (NASDAQ: SMFNF) for issuance.

Safety tokens are digital representations of asset rights recorded on the blockchain, which act as funding contracts and are topic to securities laws.

Mitsui entered the market in 2023 with a “direct-to-consumer” safety token service, in an effort to take away dependence on brokers within the worth chain. The service, referred to as Alterna, opts for introducers as an alternative of brokers in a daring try to succeed in shoppers, disrupting conventional processes within the monetary system.

Beneath the brand new association, NEObank will act as introducers, however particulars of the operation stay scarce. Whereas NEObank will provide the safety tokens as funding choices, it’s unclear whether or not the financial institution will depend on its blockchain infrastructure or a third-party custody resolution.

NEObank will deal with anti-money laundering and Know Your Buyer (KYC) checks, with consultants mentioning {that a} secondary market may even be provided along with automated revenue sharing.

Simply weeks after Alterna went reside, it partnered with Sony Financial institution (NASDAQ: SONY) to behave as an introduction to its 1.9 million prospects. Unhappy with coping with monetary establishments, Alterna partnered with retail firm J Entrance Retailing to succeed in a deeper group of consumers.

Alterna’s methodology has a number of advantages, together with saving a fortune in prices by eliminating brokers, custodians, fund managers and different intermediaries. Along with saving prices, this transfer will remove custody threat whereas enhancing transparency requirements within the worth chain for issuers and buyers.

Safety tokens in Japan are gaining recognition because of regulatory readability supplied by authorities. Monetary large Daiwa Securities (NASDAQ: DSECF) underwrote $153 million value of safety tokens and collaborated with Gincon on a first-of-its-kind proof of idea (PoC) on a public blockchain.

Daiwa will face a number of safety token issuers in Japan, together with Progmat’s issuance platform and MUFG (NASDAQ: MUFG), which has acquired assist from key ecosystem gamers. Globally, Taiwan and South Korea are dashing towards full adoption of safety tokens, with regulators issuing licenses to monetary entities.

To ensure that synthetic intelligence (AI) to perform inside the confines of the legislation and thrive within the face of rising challenges, it should combine an enterprise blockchain system that ensures the standard and possession of information enter, making it will possibly maintain the info safe whereas guaranteeing its immutability. of information. Take a look at CoinGeek’s protection about this rising expertise for extra info why Enterprise blockchain would be the spine of AI.

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