At a UN hosted conference, Binance, the worlds largest cryptocurrency exchange, announced their Blockchain based charity organization.
Binance revealed this “social project” at the World Investment Forum organized by the UN Conference on Trade and Development in Geneva Switzerland. Apparently the crypto-currency exchange will take care of all operational fees and send all of their donations directly to the organizations respective beneficiaries.
After Japan was stuck by a series of floods in July, 225 people died and 17000 houses were damaged – Binance donated over 500 000 dollars to several organizations in order to help with the aftermath. However, the “Blockchain Charity Foundations” first official project will raise donations for the victims of Eastern Uganda, who were recently struck by yet another flood.
BCF will be Accepting donations in Bitcoin, Ethereum and Binance Coin
A project like this may help to improve public reception of cryptocurrency around the world. Some of the most common rebuttals you hear when mentioning cryptocurrency is that “it is a scam”, or “not a real form of monetary value”, etc. By utilizing crypto-currency/blockchain technology for a benevolent, and practical cause in the real world Binance could very well contribute to cleaning up the image of cryptocurrency by having a tangible impact on peoples lives.
Especially in developing nations where adopting cryptocurrency could mean the difference between middle class and abject poverty, the publics perception plays a key role in not only the countries regulation of cryptocurrency but adoption by citizens who are not necessarily skilled in technology, which often make up most of the countries population.