Fifth Element has launched its SDG Impact Fund for the mission of meeting the UN Sustainable Development Goals and the fund will be the first to accept and deploy traditional fiat and all forms of cryptocurrencies, tokens and digital assets. This was announced on Friday at the United Nations according to a press release.
The purpose of the fund is to raise a hundred million dollars and deploy them in both fiat and cryptocurrencies using blockchain. The fund will leverage blockchain to "deliver the value collected by different United Nations' organizations in a more precise and effective way to the people and organizations that need it most" according to comments by Scott Stornetta, who is an adviser to Celsius. They will use a public blockchain in all its global programs in order to monitor and implement its missions in line with the UN Sustainable Development Goals.
The UN Sustainable Development Goals is an international program agreed upon by 193 countries that aim at addressing challenges such as poverty, inequality, climate change, environmental degradation, prosperity, and peace and justice. It aims at meeting a series of targets to realize more sustainable and prosperous humanity by 2030.
Fifth Element Fund is a donor-advised fund that facilitates tax beneficial giving options for donors and converts donations into grants and high-risk impact investments that can be deployed worldwide in innovative and game-changing ways. The fund accepts all liquid and illiquid assets including collectibles, real estate, stocks, bonds, and cash as well as for cryptocurrencies and all forms of tokenized assets without any requirement to do fiat conversions.
Further, the Celsius Network was named by Fifth Element as a founding member of the fund and will be the fund's preferred digital wallet. Also, a few first donors for the fund were announced during Friday's SDG Frontier Finance forum held by Fith Element in conjunction with International Day of Peace, Bryan Doreian and Chief Development Magus.
Celcius Network offers banking services on blockchain where people can deposit, borrow and earn interest of up to 7.1 percent, we allow individuals to make the same passive income Wall Street has been making for years according to Celsius CEO, Alex Mashinsky and their collaboration will help them offer these services to the most deserving.