On July 4th, the official Twitter account of the Binance Academy received a message about using 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 for charity. In addition, Binance showed their own vision of using innovative technology for good deeds.
Binance and charity
According to information, cryptocurrency still has a long way to go to mass use in charity. Today, there are several popular blockchain organizations that accept crypto-assets. But the number of such enterprises is constantly growing.
Interesting in the section: Financial geography. How to live for cryptocurrency in Argentina
At the same time, philanthropists who intend to use cryptocurrency to make their contribution must be limited to several charitable foundations. Another option, according to Binance, can be a large donation to the crypto, after which the organizers of the charity event (the company) would have to think about opening a Bitcoin wallet for donations.
The main condition for the use of the blockchain in the field of charity is a completely truthful and transparent process of transferring and charging donations. In addition, according to Binance, cryptocurrency philanthropy has several advantages, including tracking every transactionTransaction
– is a financial term that means a logically meaningful operation that can only be carried out completely. Details, increased trust, global character and complete decentralization of donations, lack of taxation of donations.
How Binance sees blockchain technology for charity. Recall that on June 21, representatives of the Binance Charity Foundation reported that they supplied solar panels and school materials to 15 Uganda schools.
Editor: Godfrid Brower