Today, Binance Charity with its Blockchain Charity Foundation (BCF) and the United Nations Development Programme (UNDP) announced the partnership they signed at a side event of the 73rd United Nations General Assembly in New York.
The goal of the partnership is to support blockchain-based projects for the social good; BCF is expected to donate $1 million to UNDP.
With UNDP’s support, BCF is committed to identifying opportunities where blockchain technology can be used to create innovative solutions, particularly for the development of the Asia-Pacific region.
In fact, it is in this area that the UNDP is active and is already experimenting with some blockchain-based initiatives, such as the one underway in the State of Haryana, India, which aims to create a blokchain-based land registry.
The UNDP was able to experience for itself the advantages that blockchain technology can guarantee and, thanks to BCF, they can ensure the exchange of knowledge between countries.
During the symposium “Blockchain for Social Good: Using Blockchain to Aid Economic Development” of a few days ago, BCF also presented its decentralized charity platform, thanks to which every donation can be monitored at every stage of the project, from the donors to the final beneficiaries.
The Blockchain Charity Foundation (BCF) is a non-profit organisation created by Binance and supported also by Tron. It works for the United Nations Agenda 2030 with the aim of reaching the Sustainable Development Goals (SDG) by taking advantage of blockchain technology.
Speaking about the partnership, Helen Hai, Head of the Blockchain Charity Foundation, said: “We firmly believe that blockchain technology will bring transformative solutions to social problems, and help bridge the UN Sustainable Development Goals funding gap in fast and innovative ways. Working with UNDP, our aim is to eradicate poverty and empower and bring prosperity to millions who are marginalized and living in poverty. We are honored to host this meeting today, and partner with UNDP to provide social impact financing and improve philanthropy with blockchain“.
Haoliang Xu, Assistant Secretary General of the United Nations and Director of the Regional Office for Asia and the Pacific at UNDP, responded by saying, “We believe that blockchain is a technology that can have a huge impact in the developing world in numerous ways. We are excited to see the strong commitment from BCF to work with UNDP to explore how blockchain technology can help develop solutions to some of the most difficult development challenges in Asia and the Pacific“
Justin Sun, founder of Tron, added: “Tron is looking forward to collaborating with BCF to contribute to SDG achievement with industry leaders worldwide“.