• The UN High Commissioner for Refugees (UNHCR) is partnering with Cardano and its smart contract platform to raise funds for people who have been displaced unfairly.
• Cardano users can donate to the cause while still holding their ADA tokens in a smart contract for a specified period of time.
• This development is expected to boost the value of the Cardano token and push it closer towards the $10 mark.
The United Nations High Commissioner for Refugees (UNHCR) is teaming up with Cardano, the eighth-largest cryptocurrency with a market capitalization of $13.2 billion, to develop a new and innovative approach to supporting people who have been unfairly displaced. The humanitarian organization will be utilizing the Cardano blockchain and its smart contract platform to raise funds.
Through this platform, Cardano users will be able to donate to the cause while still holding their ADA tokens in a smart contract for a specified period of time. This approach will be beneficial for both the refugees and the crypto community, as the former will get the help they need, while the latter will be able to make contributions and still hold their crypto assets.
The UNHCR outlined their plans in a blog post, saying, “Adopting the Cardano blockchain is first and foremost a new and innovative way of helping raise funds using staking to support people forced to flee… The opportunity of a stake pool generating rewards enables an even larger community to help make a difference and deliver lifesaving assistance to those most in need.”
The Cardano token has seen a 45.5% increase in value in the past 30 days. However, this growth has slowed recently, with the token only experiencing a 0.9% increase in the past 24 hours. Nevertheless, this development with the UNHCR is expected to boost the value of the ADA token and push it closer towards the $10 mark.
The Cardano project has been gaining traction over the past few months, with the blockchain platform being used for various applications such as smart contracts and decentralized applications. Additionally, the platform has been chosen for the UN’s World Food Programme to help deliver aid to those who need it in Africa.
With the UNHCR now joining forces with Cardano, the platform’s reach and use cases will only continue to expand. This will ultimately result in more people investing in the token and increasing its value. As such, it is possible that the ADA token will soon hit the $10 mark as it continues its climb up the crypto rankings.