Binance announces the launch of a new fundraising platform
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Answer Binance announces the launch of a new fundraising platform
Changping Zhao, CEO of Binance, delivers a keynote speech at the “Blockchains for Sustainable Development” forum organized by UNCTAD (United Nations Conference on Trade and Development) in Geneva.
Binance launches a blockchain-based donation portal
While celebrating the 63rd anniversary of the United Nations, Binance announced the launch of its blockchain-based donation platform. The announcement came during a keynote speech delivered by Binance CEO Changpeng Zhao. Zhao said that the blockchain-based charitable platform will begin accepting donor donations immediately.
He still says that BTC, ETH and BNB are the only cryptocurrencies accepted on the platform. According to Binance, the Blockchain Charitable Foundation (BCF) will open a donation channel for landslide victims in eastern Uganda.Read:Bitcoin is the 6th best performing currency in 2019
“Donations through the BCF platform will ensure full transparency, accountability and direct access to the end beneficiaries,” said Helen Hay, UNIDO Goodwill Ambassador in Africa and Chair of the Blockchain Charitable Foundation, during her speech at the conference’s symposium on Blockchain Technology for Inclusive and Sustainable Development.. She emphasized Helen says:
The BCF will harness blockchain technology to help bridge the funding gap for the United Nations Sustainable Development Goals. Also, working to empower more than one billion people living below the poverty line. We believe that poverty should not be their fate.”
The event was organized in the Hall of Human Rights and the Alliance of Civilizations at the Palais des Nations. Joining more than 700 attendees from all over the world. The IFLAS Initiative’s Comprehensive Framework for Sustainable Development Forum on Blockchain for Sustainable Development (BCF) was in favor of the move. It states to Binance that this is the first session that brings together the Global Investment Forum.
Digital currency helps charities
The CEO of Binance stated that transparency will help improve the 17 Sustainable Development Goals. During his opening speech, Mr. Zhao described the impact on fundraising and donation distribution during disaster relief operations in western Japan last month. He says more than $400,000 was raised through the blockchain alone.Read:14 Years Later: The Incredible Impact of Satoshi Nakamoto’s Bitcoin Revolutionary Program
Informationally speaking, it is easy to track the flow of funds through the layers, and we can make it 100% transparent. At the same time, for anything related to Binance, we pledge that 100% of the donations will go to the final beneficiaries. All costs will be covered by Binance, the company and the organization.Read:How many bitcoin users will it be in 2030?
Binance believes that the philanthropic blockchain platform will support the spread of blockchain technology to achieve tangible results in achieving the United Nations Sustainable Development Goals (SDGs). Furthermore, the platform has already received a $3 million donation from the Tron Foundation. They will use the money to pay for the blockchain efforts for charity.
“All of us here have made the decision to be leaders in supporting blockchain technology for the social good,” said Justin Sun, CEO of the Tron Foundation. “Binance is taking substantial steps in this direction by increasing the transparency of donations so that we can see where donors’ goodwill is going and what impact it has.”
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