Binance’s Blockchain Charity Foundation (BCF) launched a blockchain-based donation portal at the UNCTAD World Investment Forum. The system has started accepting donations and will support three currencies initially, namely- Bitcoin, Ethereum and Binance Coin. A donation channel to support the victims of landslides and floods in Eastern Uganda will also be opened.
“BCF will leverage blockchain technology to help fill the UN SDG funding gap and directly empower over one billion people living in poverty. We believe poverty is not a destiny,” said Helen Hai, the UNIDO Goodwill Ambassador for Industrialization in Africa who joined us as Head of BCF this year.
The event was hosted at the Palais de Nations and had over 700 attendees assembled by the Blockchains for Sustainable Development forum. It is the first time a blockchain session has been held at the World Investment Forum. Representatives from IBM, Hyperledger, ConsenSys, and Bancor were also in attendance during the event.
Changpeng Zhao, the CEO of Binance, delivered a keynote address at the Blockchains for Sustainable Development forum. He said that transparency would be important in improving all 17 of their Sustainable Development Goals (SDGs). He introduced the blockchain-enabled donation portal to the audience:
“Conceptually, it is easy to track the flow of funds through the layers and we can make this 100% transparent,” Zhao said. “At the same time, for anything Binance is involved with, we pledge that 100% of donations will go to the end beneficiaries, and all costs will be covered by Binance, the company and the foundation.”
BCF is a charity arm of the world’s largest cryptocurrency exchange Binance. It is dedicated to using blockchain technology to help achieve the SDGs of the United Nations. The Tron Foundation has pledged an initial amount of $3 million to the BCF to help its charitable efforts.
“All of us here have made the decision to be leaders in shaping blockchain technology for social good,” said Justin Sun, CEO of Tron. “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.”
Organized by the United Nations Conference on Trade and Development (UNCTAD), the World Investment Forum was held in Geneva, Switzerland, on October 22-26.
To donate and learn more about BCF, visit https://www.binance.charity.
Blockchain Charity Foundation (BCF) is a nonprofit organization that seeks to use blockchain technology in charity for the purpose of global sustainable development.