The famous Binance virtual currency exchange and the Tron blockchain platform (TRX) will donate $ 100,000 in cryptocurrencies to a charity organization in Malta.
The information was released by Binance in a blog post a few days ago. The main intention is to improve the lives of those suffering from illness, disability and vulnerability.
The Foundation for the Malta Community Fund Foundation works to improve the lives of those who are going through difficult times due to illness, disability and economic vulnerability. Please help support their cause through @BinanceBCFThe fundraising channel: https://t.co/kW81R2qGnL pic.twitter.com/ZW22ZskjtG
– Binance (@binance) December 20, 2018
The donation will be processed through the Binance Charity Foundation (BCF), the philanthropic arm of the cryptocurrency exchange. The funds will be provided to terminally ill patients and also to disadvantaged children in Malta. The funds will be received by the Malta Community Fund Foundation. 15,000 people will benefit from this donation.
The donation campaign is called L-IstrinaCampaign and will be open to donation on Binance Charity. Users can easily track the funds provided using the blockchain.
This is a good opportunity for companies associated with blockchain and cryptocurrency to show their social responsibility. Marie-Louise Coleiro Preca, the president of Malta believes that companies can demonstrate how blockchain technology can be used for social causes.
By the way, Changpeng Zhao, CEO and founder of Binance, commented:
"Binance is only doing our part to contribute to people in need, charity is one of those areas where everyone should help if possible.With blockchain technologies, we can solve the problem of transparency in charity – increasing the amount of charity that people will do. "I hope to encourage more people in space to use cryptography for the social good".
"Binance is just doing our part to help people in need, charity is one of those areas where everyone should help, if possible," he said @cz_binance. With blockchain technologies, we can solve the problem of transparency in charity. @binance
– Justin Sun (@justinsuntron) December 23, 2018
The MCCFF thanked both companies, Tron and Binance for their contribution to those in need. At the same time, the main intention is to encourage other companies in the sector to help those who need help.
The Binance Charity Foundation it was created by the exchange to promote blockchain philanthropy in space. Using the base, users can track all the funds they receive and how they are distributed to charities around the world.
Binance also helped those affected by the floods in Japan a few months ago. The encrypted exchange has donated $ 1.4 million to organizations seeking to mitigate the devastating effects of flooding.