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Binance has launched a charity campaign to support children in Malta
Binance, the largest crypt exchange in the world, has recently used its philanthropic arm, the Binance Charity Foundation, to open a new fundraising channel on its donation platform. Donations will be used to help children in precarious situations in Malta and Gozo. Disadvantaged children and terminally ill patients are the two objectives of the campaign.
The countryside 2018 L-Istrina Campaign has been named and its new channel will be used to raise funds for Maltese children through the Community Community Chest Fund, a national fund of the country. The official objective of the national fund it is to improve the lives of families (and especially children) who have a disability, serious illness or suffer extreme poverty.
According to the original report, the Foundation will be responsible for providing medical assistance, social assistance and counseling services. All donations will be trackable on the blockchain, as expected by a technology-focused company.
Studies show that people tend to donate money more easily when they are able to see how money is used. Using blockchain technology, Binance he can easily do just that. Last year the MCCFF had a range of 15,000 people Binance He is working to improve on this issue.
Both Binance and TRON, a decentralized token project created by Justin Sun and the Tron Foundation pledged to offer $ 100,000 USD in donations to the fund.
There will be a TV event for the charity organization that will last 12 hours. All donations made to the fund will then be revealed.
The authorities comment on the initiative
The president of Malta, Marie-Louise Coleiro Preca, had a very positive reaction to the new platform and said that this new space could allow companies to express their corporate values and responsibilities through donations.
Changpeng Zhao, known as the CEO and founder of Binance, he was also enthusiastic. He said that the platform can solve the biggest problem in the charitable field, namely the lack of transparency and accountability. This, he believes, will lead to a new wave of donations and can change the world.
The new donation platform created by Binance it was revealed last October and was originally used to help flood victims and landslides in Uganda. At the moment, the platform accepts Bitcoin (BTC), Ether (ETH) and Binance Coin (BNB).
Ripple recently launched a similar program, known as Ripple for Good. The program was able to bring together over $ 100 million USD per charity as the company itself donated $ 25 million USD and other companies donated over $ 80 million USD.
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