Binance introduces blockchain based donations
Blockchain Charity Foundation (BCF), A Social Project:
Reports concluded that one of the biggest social projects of cryptocurrency in the world is named as Blockchain Charity Foundation (BCF). Binance is interested in an introduction of its first donation platform that is powered by blockchain technology. This news was revealed by Binance Blog on Friday, October 26. Binance is known to be an international cryptocurrency exchange that was founded in China by Changpeng Zhao. This technology was founded in 2017. Trading purpose of cryptocurrency is banned in China therefore, currently Binance is working in headquarters of Japan. Today, Binance is considered to be the largest cryptocurrency exchange in the whole ecosystem of technology. The role of Binance is to support multiple coins and many kinds of trading pairs. The exchange and transactions that was made by Binance is through BNB that is abbreviated as Binance coin. Binance is famous among its users due to its fast speed, accuracy and security. Now Binance app is also available on android and IOS apps which is very useful for the users of cryptocurrency. If you would like to read more about Binance donations visit this article.
Motive of Conference named World’s Investment Fund:
On Wednesday October 24, UN Conference on Trade and Development (UNCTAD) organised a conference on world’s investment fund that is held at Geneva, Switzerland. In this conference the main topic to be discussed on was the platform of blockchain powered donations project. The announcement of this project was made on this conference. Switzerland is officially called as Swiss Federation which also represents the system of cryptocurrency on their official mechanism of exchange. This secure and perfect mechanism of cryptocurrency in Switzerland attracts the International investors as well as local users. So that this important conference is held in Switzerland to increase the importance of cryptocurrency on international level. Switzerland is considered to be in the list of that countries that show positive attitude towards Bitcoin card and cryptocurrency. If you would like to read more about Binance tracking portal visit this article.
Binance CEO took part in this Charity project: Why?
It was confirmed by different reports that CEO of Binance also shared his views on this Charity project. On this specific forum, the CEO of Binance also took a part in the development of blockchain technology session. He is also known as CZ. He shows his concern to cover all the operational fees that was going to use in new BCF Blockchain Charity website. He also concluded that all the donations they go directly towards its all beneficiaries. His views on blockchain technology was clear and up to the mark. He also suggests that may be in future the development of blockchain technology will help to improve the donation systems of this Charity project. His concern for the progress of this Charity project is truly appreciating and amazing. He also advised the International investors to step on hand help this BCF Charity project. The transparency of these donations was also improved by the efforts of CEO of Binance. This donation project is having a series of improvements while functioning in the field of blockchain technology.
Is BCF was using to donate funds?
According to the main officials of Binance, it was confirmed that the donations which are carried out by BCF were widely used for raising the funds of victims of flood and landslides occurred in Uganda. These donations were distributed equally on these places in order to help them and save their rights of being human. Several parts of Uganda get benefits through the help of these donations.
It is also reported by the Binance that:
“TRON Foundation is another decentralized system of donation that already donated an amount about 3 million to the donation project named BCF”.
BCF taken the responsibility of this investment and use this money on different for different purposes. These 3 million donations to BCF is considered to be the initial payment as given by TRON Foundation.
Donations from other Cryptocurrencies!
Surprisingly, BCF having also relationship with other cryptocurrencies like Bitcoin, Ethereum and Binance Coin (BNB). As per the research from the project’s site it was confirmed that BCF is also making link with these cryptocurrencies and also taken an amount of donations from Bitcoin (BTC), Ethereum (ETC) and Binance coin (BNB). These are all responsible for providing donations to the project having BCF.
In another conference named UNCTAD, it was addressed by Zhao that crypto based donations help to raise funds in Japan which was following the devastating flood in the month of June. Official reports suggested that more than 225 people were died, and 17000 houses were damaged in these all nature’s disasters. Also, Binance took part to distribute over 500000 into various organisation whose NGOs were working for humanity. If you would like to read more about Binance charity foundation visit this article.
Now various firms of Binance are in effort to make lists in which donations were listed out for the charity purpose. Zhao also announced that all the listing fees will be donating to the charity project and there is no confusion about it. CEO further explains that the givers should have to mention his name while paying to the donation for the charity. Binance will also make sure about their employees to name the amount they pay without demanding them for minimal pay. So, this would be a great step for the charity project to proceed towards many programs for donations. According to the reports, on current stage Binance is considered to be world’s largest crypto exchange with an amount of 467 billion donation to the charity project within 24 hours.
In regular term, it was a great step by CEO of Binance, for creating such platform which helps not only the humanity but also enhances the image of cryptocurrency in the whole world.