Geneva, Zurich, 30 November 2022 - Taurus is proud to partner with the UN Refugee Agency’s national partner in Switzerland: Switzerland for UNHCR (United Nations High Commissioner for Refugees) and the Cardano Foundation. As part of the collaboration, Switzerland for UNHCR will launch a charity stake pool, with stake delegation by the Cardano Foundation of 3.5 million ADA, the native token of the Cardano blockchain. Taurus, a leading Swiss based digital asset infrastructure provider, will run the stake pool.
Frederik Gregaard, CEO of the Cardano Foundation, commented:
“The collaboration with Switzerland for UNHCR is an embodiment of the Foundation’s ethos. We strongly believe in using blockchain to improve conditions for everyone, and doing so with the active participation of the Cardano community. Announcing this year’s Global Impact Challenge during the Cardano Summit 2022 was a great way of launching the conversation, giving ample opportunity for in-person dialogue, and ensuring the Cardano community, together with the Cardano Foundation, will help shape this year’s challenge. We hope this new Global Impact Challenge will make a real difference to the lives of displaced people globally.
This second Annual Global Impact Challenge will see 80% of the stake pool rewards generated go directly to Switzerland for UNHCR’s operations supporting forcibly displaced people. The remaining 20% will support the organization’s funds for innovation projects. The challenge furthers the Foundation’s commitment to both leveraging the Cardano blockchain technology and directing its resources to effect positive change.
The Impact Challenge was launched at the Cardano Summit 2022, the largest ever in-person gathering of the Cardano community. With a main stage event in Lausanne, a virtual Summit Lodge, as well as 50 community-led events in multiple locations across the world, the Summit took place from 19 to 21 November and offered a variety of panels and keynotes about building on Cardano.
To support this Global Impact Challenge, the Cardano Foundation will create a specific wallet, which is separate from the main delegation strategy. The Cardano Foundation’s ada will be rebalanced across its 45 existing wallet addresses and a 46th wallet created, dedicated to the UNHCR stake pool. Going forward, this wallet will be used to delegate stake towards interesting initiatives which support the positive adoption of Cardano.
Lamine Brahimi, Co-founder and Managing Partner at Taurus, a global leader in enterprise-grade digital asset infrastructure that plays a key role in bringing this 2022 Global Impact Challenge to fruition, remarked:
“Distributed ledger technology (DLT) allows nonprofit organizations to raise funds in innovative and compliant ways using delegated proof of stake. Taurus has long-standing experience running DLT infrastructure and staking pools on multiple blockchains. We are extremely proud of this partnership which will provide direct support for forcibly displaced people around the world."
Hovig Etyemezian, Head of Innovation at UNHCR, concluded:
“The tech sector has a crucial role to play in helping humanitarian agencies innovate to better deliver assistance. In a time when more people have been forcibly displaced than ever before, this collaboration between the Cardano Foundation and Switzerland for UNHCR, our national partner in Switzerland, is a great example of how innovation can be a force for good and empower the most vulnerable. I look forward to seeing how this partnership can unlock the power of the blockchain community, in support of people forced to flee."
About the Cardano Foundation
The Cardano Foundation is the independent, Swiss-based and non-profit organization responsible for stewarding the advancement of the public, permissionless blockchain Cardano. Our mission is to anchor the Cardano blockchain as a baselayer for current and future financial and social systems, thus empowering the architects of the future. We aim to de-risk decentralization for regulators and organizations, while also giving the Cardano community the necessary tools and support to leverage the Cardano protocol to solve world problems.
UNHCR, the UN Refugee Agency, is a global organization dedicated to saving lives, protecting rights and building a better future for people forced to flee their homes because of conflict and persecution. We lead international action to protect refugees, forcibly displaced communities and stateless people. We deliver life-saving assistance, help safeguard fundamental human rights, and develop solutions that ensure people have a safe place called home where they can build a better future. We also work to ensure that stateless people are granted a nationality. We work in over 137 countries, using our expertise to protect and care for millions.
About Switzerland for UNHCR:
Switzerland for UNHCR is the UN Refugee Agency's national partner for Switzerland. We support UNHCR’s mission by raising critical funds and advocating for people forced to flee. Nobody chooses to be a refugee, but we can all choose to contribute to their protection. More details on https://www.unrefugees.ch/
About Taurus SA
Taurus SA was founded in April 2018 in Geneva, Switzerland, specializing in digital assets and blockchain. Taurus was founded by senior executives with a background in banking, regulatory, IT, and cyber security. Taurus delivers its clients the infrastructure to manage ANY digital asset: cryptocurrencies, tokenized assets, and digital currencies, with one unified platform. It is a leader in Europe and Switzerland. Taurus solutions are in production and entrusted with the full spectrum of banks: systemic banks, investment banks, private banks, retail/digital banks, crypto-banks, trading venues.
For further information on Taurus: please visit www.taurushq.com