Binance Works with Chinese Corps to Distribute 70K Masks to Coronavirus Victims

In a tweet posted yesterday, Binance CEO Changpeng Zhao announced that the Binance team would be working with Chinese e-commerce and logistics firms in order to distribute approximately 70,000 N95 masks in the Wuhan province of China as a part of their charity efforts against Coronavirus.

Zhao added that the Chinese government would be coordinating the process centrally in order to ensure that the masks could be distributed in an orderly manner.

This announcement followed a tweet posted on January 25, in which the crypto giant pledged RMB 10 million (equivalent to USD 1.5 million) to help victims of Coronavirus.

However, due to travel restrictions imposed by the government in wake of the medical emergency, Binance found it difficult to get the 8000 masks and other medical supplies that they had purchased into Wuhan. Zhao further appealed for logistical support in his tweet.

Binance: A Leader in Blockchain Projects for Social Change

Binance boasts of an active charity foundation and has undertaken multiple projects as a part of its philanthropic efforts.

In 2019, the Binance Charity Foundation (BCF) undertook a ‘Pink Care Token’ project for helping women in need of better feminine care by donating sanitary pads to girls in Ugandan schools. According to the project report, the initiative helped almost 12,000 women by providing them with a year’s supply of feminine hygiene products.

BCF’s ‘Lunch for Children’ project, launched in July 2019, accepts donations to tackle child hunger in Africa. As the world’s foremost health risk, hunger impacts roughly over 23 million children in Africa alone. This philanthropic project aims to use education to break the poverty cycle by providing poor children from attending schools with nutritious meals. Cryptocurrency sent by donors across the world is transferred to the children’s crypto wallets (managed by their parents) and can be used to purchase meals at school.

Other projects taken on by BCF include combatting the Australian bush fire, improving refugee living conditions in Uganda, providing educational materials for children who cannot afford them as well as introducing clean solar energy in Africa through the instalment of solar panels.

These social initiatives have gained tremendous success since they follow a blockchain-based model which allows for complete transparency in the charity process. Hence, donors can verify that their crypto donations have reached the end recipients and that the funds are not misused.

Furthermore, the crypto donations make the philanthropic process more efficient by enabling instantaneous transactions and minimizing the intermediate costs involved in traditional channels of charity.

According to BCF’s mission statement, the organization’s aim is to use blockchain tech to achieve sustainable development globally and improve the lives of the bottom billion people. The organization’s goal is to facilitate a cross-sectional dialogue between donors and vulnerable communities and thereby, harness the blockchain-based transparent donation system to develop and implement innovative, tailor-made solutions that accurately address local needs.

Mahima Duggal

Mahima Duggal has completed her MA in International Security from the University of Warwick (UK) with distinction. She also holds a BSc (2:1 Honours) in International Relations from the London School of Economics and Political Science (LSE). She is a trained journalist who has completed an undergraduate degree in journalism and public relations from the University of Newcastle in Australia. Mahima's research interests involve technology, cyber security, human rights and international development. She follows all things crypto and strongly promotes the use of blockchain technology for social change.

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