The Binance cryptocurrency charity foundation, BCF, has opened a new channel for donations. The program for collecting money will work on the basis of the blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details technology, as was reported by CoinTelegraph news agency.
A new Binance charity program is conducted in support of terminally ill patients, and children from disadvantaged families in Malta and Gozo. The news was published on the official website of the exchange on December 19. From the information on the site, the charity event will be called "2018 L-Istrina Campaign".
Charity blockchain channel Binance
The new charity channel will raise funds to help The Malta Community Chest Fund Foundation (MCCFF), which is working to improve the lives of Maltese and Gozo people and families suffering from illness, disability, or economically vulnerable people.
The work of the charity fund includes medical care, counseling services, funding, social assistance and care packages. The donations to the fund recorded on the blockchain are fully traceable and recorded. MCCFF also pledged to issue monthly updates indicating the amount of charitable investments received.
According to a press release, Binance, as well as the TRON decentralized Internet project, pledged to donate $ 100,000 in cryptocurrency to the MCCF fund. It is reported that the total amount of donations will be announced during the 12-hour M-Istrina charity telethon, broadcast internationally. The date has not yet been announced.
Changpeng Zhao (Czech Republic), CEO and founder of Binance, commented: "(...) with the help of blockchain technologies we can solve the problem of transparency in charity, thereby causing more trust and participation in charitable initiatives".
Marie-Louise Coleiro Preca, President of Malta, responded positively to the donation platform. Recall that back in October, Binance presented its platform for charitable donations to BCF, starting with an initiative to raise funds for flood victims and landslides in Eastern Uganda. The platform supports donations in Bitcoins (BTC), Ethereum (ETH) and the native tokenToken
– is an accounting unit that is used to represent a digital balance in an asset.Details of the Binance Coin exchange (BNB). At the time of launch of the platform, the TRON Foundation promised to donate $ 3 million to BCF.
The fact that Binance opened a charitable blockchain-campaign to support patients in Malta is not the first attempt to introduce the blockchain into charity. As you know, Ripple also launched its own official social impact program called "Ripple for Good".
Editor: Pereyidenko Ihor