Today came the announcement of a partnership between Women’s World Banking, AID:Tech and the Binance Charity Foundation to provide microinsurance to more than 2 million women.
For this reason, a Memorandum of Understanding MOU was signed to design a technology platform aimed at accelerating medical care through a microinsurance product.
In fact, by means of microinsurance, it is possible to cover and implement the essential protection for women, which also includes the aspect of maternity and all the difficulties that it entails. Such support is extremely useful for a woman.
It goes without saying that this kind of platform, designed for emerging markets, requires a lot of time and resources and that’s why this partnership was born, precisely to accelerate the development of tools essential to the health of women and beyond, commented the director of Microinsurance Solutions of Women’s World Banking, Gilles Renouil:
“Although Women’s World Banking has reached more than 2,000,000 people with its Caregiver microinsurance solution, we recognize we can move faster and further by addressing one of the most significant bottlenecks to implementation: the technology platform that utilizes the latest cutting-edge tools. We are excited to join forces with AID:Tech and Binance Charity Foundation to harness our respective strengths to increase economic security for women and their families globally”.
In addition, blockchain technology is an excellent tool for this type of situation as it allows a significant speed both to unlock funds and to control all data in a simple and effective way, offering a solution such as the Interoperable Digital Identity Protocol (IDIP).
The CEO of AID:Tech is in line with the motivation and says they will be able to scale everything without problems:
“Today, we’re taking a critical step forward in our company’s history. Partnering with leading organizations that share the same vision as AID:Tech is vital to our future success. This partnership will enable us to deliver microinsurance at scale, while at the same time allowing the women to own, manage and eventually monetize their own identity metadata. We believe in a world where people decide how their data should be used and want to build social and financial inclusion via Digital Identity. We have admired both Women’s World Banking and Binance Charity Foundation for a long time. And without the vision shown by Women’s World Banking none of this would be possible”.
Helen Hai of Binance Charity Foundation is very happy to help her “sisters” achieve the same rights and opportunities most fortunate women have:
“I always believe that the beauty of technology lies in its capability to benefit mankind. Binance Charity has always been seeking ways to utilize blockchain technology for social good. In our past projects, we used the concept of stablecoin to support young women in Africa who suffer period poverty with sanitary pads. Now we have the chance to offer microinsurance service to 2 million women. As a woman, to be honest, I’m quite glad that I can do these for my sisters. And I would like to say thank you to Women’s World Banking and AID:Tech for this opportunity so we can contribute to this great cause”.
Some time ago Binance also announced a partnership with several companies to create a stablecoin to help fight poverty, so also although Binance represents a colossus in this sector, it does not forget to use its influence to carry out noble causes like this one.