Celsius Network, a renowned decentralized borrowing, and lending company will administer the Sustainable Development Goals Impact Fund or SDG for short through the plan and project of United Nation’s Sustainable Development Goals; this is according to the latest news posted yesterday.
The UN Sustainable Development Goals are a global call to action to stop poverty, keep the planet safe, and at the same time make sure that each human being enjoys prosperity and peace. This international program also focuses on providing a better and sustainable future for everyone. Aside from addressing global challenges like poverty, Sustainable Development Goals also aim to put an end to climate change, inequality as well as environmental degradation. The program aims to get a series of targets by the year 2030.
As for the news, the Sustainable Development Goals Impact Fund will be presented by Fifth Element, a renowned financial service provider with an objective of raising hundred millions of dollars and use the money in both digital format and fiat utilizing a public blockchain. The account will allegedly be the first to accept and control all types of digital assets and cryptocurrencies in conformity with the United Nations Sustainable Development Goals.
In the joint venture with Fifth Element, this decentralized borrowing and lending company is purportedly planning to bring back the power to the public by means of offering bank services usually given to the owner of top-tier assets.
Alex Mashinsky, Chief Executive Office of Celsius company, stated that through providing obtained interest rates up to 7.1%, the company allows people to make the same passive profits Wall Street has been doing for so many years now.
Scott Stornetta, Celsius adviser, stated in an interview that they see a remarkable prospect to make use of the blockchain tech to give the money gathered by diverse United Nation organizations in an efficient and precise manner to the organization and individual as well that wants it most.
A few months ago, UNICEF or United Nations International Children Emergency Fund embraced digital currency by means of starting a charitable trust for kids in Syria who are a victim of war, asking PC players to utilize their gadgets to mine ETH or Ethereum and give their profits to help these kids. Later in April, UNICEF Australia also proclaimed a program which enables users to provide their computer’s processing power to mine digital currency for charity.