Binance Introduces Blockchain-Based Charity Website ‘BCF’ at UN Conference. Presently it is authentically uncovered on the Binance blog. That a Blockchain controlled gift platform, Blockchain Charity Foundation (BCF), is acquainted with the world. The main declaration in regards to the task was made on October 24, 2018 amid the World Investment Forum. The occasion was composed in Geneva, Switzerland by the U.N. Meeting on Trade and Development (UNCTAD). The date denoted the 73rd commemoration of the UN Day.
Blockchains for Sustainable Development
Binance Introduces Blockchain-Based Charity Website ‘BCF’ at UN Conference. At the forum, CEO of Binance, Changpeng Zhao took part in the Blockchains for Sustainable Development session. He said that Binance will cover all operational fees on the new BCF website. Also, all donations will go directly to their beneficiaries. Zhao also said that blockchain technology would help improve transparency in donations.
He spoke in the session with the topic “Blockchain for Sustainable Development” at the UNCTAD’s World Investment Forum 2018. Zhao stated:
“By improving transparency in the charity sector, we will be able to address all 17 sustainable development goals as a whole, at a more fundamental layer.”
The blockchain-based donation portal aims to attract more donations from the community by making the process much more secure and transparent. Binance is also taking the responsibility of covering the operational and transactional fees for the same. The crypto exchange is also donating all the listing fees it gets from the trading platform directly to BCF. In his statement, the CEO stated that Binance would also allow developers themselves to name the amount they pay, without demanding a minimum fee.
Furthermore, they urge that all the donations will go directly to the needy ones.
BCF Platform to raise funds for Uganda victims.
Binance Introduces Blockchain-Based Charity Website ‘BCF’ at UN Conference. Citing the recent natural calamities in Eastern Uganda, it is decided that the first use of the BCF donation platform. This would be to raise funds for the victims of floods and landslides in the area. He also talked about the disaster relief in Japan and gave a brief report on the crypto donations raised to help West Japan. In July, devastating floods hit the area killing 225 people and damaging over 17,000 houses. In these dire-straits, Binance distributed $500,000 to various organisations aiding in relief, through local intermediaries.
On visiting the project’s website, it can be seen that currently, they are accepting donations in Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB). Also, the Tron Foundation has pledged an initial donation of $3 Million to the Blockchain Charity Foundation.
It was also a special occasion for the Blockchain space as it marked the first Blockchain session being carried out at the World Investment Forum. Over 700 attendees were present to attend the Blockchain for Sustainable Development forum including representatives from IBM, Hyperledger, ConsenSys, and Bancor.