Binance Charity Foundation (BCF), the blockchain-enabled charity platform of the global cryptocurrency exchange Binance, has successfully secured $200,000 worth of cryptocurrency donations to support the Binance for Children program.
The foundation raised the funds during a private gala dinner hosted by Bloq, a blockchain technology company, during New York Blockchain Week.
— Bloq (@bloqinc) May 15, 2019
What Does the Money Go Towards?
The money raised will go towards increasing aid provided to Uganda and will be used to encourage children to continue their education.
The goals of this particular charity is to provide 100,000 students from 160 schools in Uganda with supplies, food, and a range of goods that will improve their quality of education.
During the gala, Helen Hai from the Binance Charity Foundation explained the importance of blockchain technology in charity, as it provides a transparent and effective way to deliver aid to those in need. She explained that that the BCF is becoming a transformative force for good with the help of those who donated.
Adding to this, she said:
“The 100,000 end beneficiaries in Uganda will just be a starting point. I firmly believe that with all the good hearts in crypto space, we can expand our initiative to empower the bottom billion.”
All donations are recorded on the foundation’s blockchain-powered charity platform to make global philanthropy more trustworthy.
Adding to the Hai’s comments, Matthew Roszak from Bloq said:
“In much of the excitement surrounding cryptocurrencies, blockchains, and tokenization, the magnitude of humanitarian applications has often been underrated, until recently… We hope more organizations join this global effort.”
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