Binance Charity Foundation, widely referred to as BCF, has doled out 1,100 PCAT (Pink Care Tokens) and 1,100 reusable sanitary napkin packets to as many as 1,100 young women in Bukanga Sub-County’s Busalamu Secondary School in Uganda’s Luuka District on 15th July 2019. The initiative was undertaken to reduce period poverty.
To divulge further insights on the initiative, Binance released a blog post on 19th July. A tweet followed the same day, which urged people to be a part of the good deed and make some donations.
— Binance (@binance) July 19, 2019
The distribution of sanitary pads is part of the strategic alliance called ‘Pink Care Token Alliance’ which has been formed between 47 entities to launch PCAT. This alliance was announced at the beginning of July and it works towards the mission of empowering one million women based in the developing nations by providing them with improved feminine health.
The charity event had Uganda’s Minister of the Presidency, Hon. Esther Mbulakubuza Mbayo in presence. She shared her belief saying their combined effort would stop Uganda girls from dropping out of school and help them concentrate on studies. She was positive that the change would begin here. The minister also appreciated BCF and the Pink Care Token Alliance for supporting such a meaningful cause.
The chief donor of this 1st batch of sanitary pad deliveries in Uganda’s Luuka District is Babel Finance. Flex Yang, Babel Finance’s Founder-CEO, graced the event through his video message. He considered himself honored to have joined the program that intends to help the young girls grow healthy and happy. He also expressed his belief that cryptocurrency has what it takes to build a better world for everyone by reaching out to those in need with true love and compassion. The community, on the other hand, has decided to name ten schools in the Luuka district as BabelFinance Pink Care Schools as a token of thanks and acknowledgment of Yes Sirthe program.
As per the blog, this donation which finds its backing in the form of 10K PCAT issuance can offer sufficient supply of sanitary pads for a year. To be precise, it can offer 10 thousand reusable sanitary napkin packs to ten thousand girls of Luuka district. That’s not all, BCF has planned to deliver 50K of such pads to fifty thousand girls in Uganda before the current year marks an end.
PCAT is the 1st social-impact value-stable token that is issued on the Binance Chain. It is pegged to sanitary pad supply of one whole year for 1 girl. After receiving the Pink Care Token, Girls can go to the local suppliers and use the token to get sanitary pads in return.
Binance had announced a public tender for it on their official Twitter handle from 20th to 25th June which was won by a local manufacturer of sanitary pads in Uganda called AFRIpads. BCF joined hands with local manufacturers in the hope to boost the local economy as well as employment opportunities.
AFRIpads offers reusable and affordable sanitary pads, assuring supply sustainability to this noble cause. As per AFRIpads, it is a one-of-a-kind project that sponsors menstrual hygiene products utilizing cryptocurrency for young women. This also demonstrates conventional industries’ increasing belief in the power that cryptocurrency and blockchain technology possesses.
The Binance Charity Foundation is the official philanthropic and charity division of Binance, the biggest digital currency exchange in the world by trading volume. BCF platform is powered by blockchain which makes the entire process reliable, immutable, and traceable.