The CEO of the world’s largest cryptocurrency exchange, Binance, has announced the launch of a blockchain donation platform during a recent U.N. conference.
The Blockchain Charity Foundation (BCF), a social project of the world’s largest crypto exchange Binance, has introduced its blockchain-powered donation platform, Binance Blog revealed Friday, Oct. 26.
At the forum, Binance CEO Changpeng Zhao — also known as CZ — took part in the Blockchains for Sustainable Development session. He said that Binance will cover all operational fees on the new BCF blockchain charity website, adding that all donations will go directly to its beneficiaries. Zhao also said that blockchain technology would help improve transparency in donations.
According to Binance, BCF will first use its donation platform to raise funds for the victims of the floods and landslides in Eastern Uganda. Binance has also revealed that decentralized blockchain project the TRON Foundation pledged an initial donation of $3 million to BCF.
During the same UNCTAD conference, Zhao also gave a brief report on crypto donations raised to help West Japan following devastating floods in mid-July, where 225 people died and 17,000 houses were damaged. Binance managed to distribute over $500,000 to various organizations via local intermediaries.
In early October, Zhao announced that all of Binance’s listing fees would be donated to charity. In his statement, the CEO stated that Binance would also allow developers themselves to name the amount they pay, without demanding a minimum fee.
Binance is currently the world’s largest crypto exchange by daily trade volume at $467 billion, up eight percent in the last 24 hours.
Source: , CoinTelegraph
Articles listed with Cash Tech News as the author are either general information, or may have been imported from another website, to bring our readers a rich media experience that encompasses articles that we find interesting, as well as those curated by others.
The views and opinions expressed here are for informational purposes only, and should not be confused with professional financial advice. These opinions are solely those of the author and do not necessarily reflect the views of CashTechNews.com. Every investment and trade involves risk. You should conduct your own research, and contact your professional financial advisor before making any investment.
Corrections, feedback, and ideas should be submitted through the website contact form.