Binance Launches Blockchain Donation Portal At UNCTAD In Geneva

Binance CEO and founder Changpeng Zhao on 24 October 2018 launched the Blockchain Charity foundation, a Binance initiated blockchain based donation portal.


Binance CEO Changpeng Zhao delivers a keynote at the Blockchains for Sustainable Development Forum organized by UNCTAD in Geneva.


Binance Launches Blockchain Based Donation Portal

While commemorating the 73rd anniversary of the UN Day, Binance announced the launched of its blockchain based donation platform. The announcement came during a keynote speech made by binance CEO Changpeng Zhao. Mr. Zhao said the blockchain based charity platform will begin accepting donations immediately.

He continues saying at the meantime BNB, BTC and ETH are the only cryptocurrencies acceptable on the system. According to Binance, the Blockchain Charity Foundation (BCF) will open a donation channel for landslide victims in Eastern Uganda.

Donations through the BCF platform will ensure full transparency, accountability and direct reach to end recipients,” said Helen Hai, UNIDO Goodwill Ambassador for Industrialization in Africa and Head of Blockchain Charity Foundation. Speaking at a UNRISD Seminar on Blockchain for Inclusive and Sustainable Development, Helen said:

BCF will leverage blockchain technology to help fill the UN SDG funding gap. Also, directly empower over one billion people living in poverty. We believe poverty is not a destiny.’

The event was taken in the Human Rights and Alliance of Civilizations Room at the Palais de Nations. It attracts more than 700 attendees from all over the world. The Blockchains for Sustainable Development forum by the IFLAS initiative on Blockchains for Sustainable Development, BCF was a supporter. Binance states that this is the first blockchain session ever held the World Investment Forum.

Cryptocurrency Aiding Charity

Binance CEO stated that transparency will help improve all the 17 of the sustainable development Goal. During his Keynote speech, Mr. Zhao described the impact that blockchain had on fundraising and donation distribution during the disaster relief in West Japan last month. He says more than $400,000 were raising through blockchain alone.

Conceptually, it is easy to track the flow of funds through the layers and we can make this 100% transparent. At the same time, for anything relating to Binance, we pledge that 100% of donations will go to the end beneficiaries. All costs will be covered by Binance, the company, and the foundation.

Binance believes that the blockchain charity platform BCF, it initiated will leverage blockchain technology to drive concrete results in achieving the UN Sustainable Development Goals (SDGs). Moreover, the platform has already received a donation of US$3 million from Tron Foundation. They will use the money for advancing blockchain efforts for charity.

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

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Jacob Okonya

Jacob has been engaged in blockchain technologies, Bitcoin, and fintech. He worked mostly as a blockchain market researcher, fintech journalist, and online forum moderator. Jacob is involved in creating articles and educational content for different project components, explaining how users can utilize the various resources.

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