Binance presents the Blockchain based donation portal
Binance presents the Blockchain based donation portal
Blockchain

Binance presents the Blockchain based donation portal

By Amelia Tomasicchio - 24 Oct 2018

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Today, 24th of October, on the occasion of the 73rd anniversary of United Nations Day, the Blockchain Charity Foundation (BCF) of Binance launched a blockchain-based donation portal during the World Investment Forum.

This charity system will immediately start accepting donations in bitcoin, ethereum and binance coin. BCF will also open a donation channel to support victims of recent floods and landslides in Uganda.

Helen Hai, UNIDO Ambassador and Head of the Blockchain Charity Foundation, explained: “Donations through the BCF platform will ensure full transparency, accountability and direct access to final recipients. BCF will use blockchain technology to help bridge the UN SDG funding gap and directly empower more than a billion people living in poverty. We believe that poverty is not a destiny“.

Transparency will help improve all of our 17 Sustainable Development Goals,” said Binance CEO Changpeng Zhao during the presentation, describing the impact that the blockchain had last month on the collection of donations aiding Japan.

Conceptually, it’s easy to track the flow of funds across multiple layers and we can make it 100% transparent. At the same time, for whatever Binance is involved with, we promise that 100% of the donations will go to the final beneficiaries, and all costs will be covered by Binance, the company and the foundation.”

Binance aims to use blockchain technology to achieve the UN Sustainable Development Goals (SDGs). Not only Binance, but also Bancor, UNICEF, IBM, Hyperledger and ConsenSys met during today’s event to discuss the implementation of the blockchain.

Justin Sun, CEO of Tron Foundation, also said: “All of us here have made the decision to be leaders in shaping blockchain technology for the social good. The Binance Charity Foundation is taking substantial steps in this direction by increasing the transparency of donations so that we can see where the goodwill of donors is going and what impact it has”.

Amelia Tomasicchio
Amelia Tomasicchio

As expert in digital marketing, Amelia began working in the fintech sector in 2014 after writing her thesis on Bitcoin technology. Previously author for Cointelegraph and CMO at Eido. She is now the co-founder and editor-in-chief of The Cryptonomist.

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