DLT based funding platform BLOC has entered in strategic partnership with Binance to issue its native token MDAB on the Binance Chain. The announcement came on Monday via an official tweet.
— BLOC Platform (@BlocPlatform) May 13, 2019
BLOC, a Stellar, Binance Chain and Hyperledger Fabric powered global impact fund platform, is aimed at building a trustful internet system using the innovative blockchain tech. The company states on its official website,
We at BLOC realize that blockchain is not merely a technology, but a socialized concept of ‘consensus trust’, which encourages people to build a system on the internet that can be governed. This is fundamentally important in areas of social responsibility such as poverty, hunger and inequality.
The New York-based blockchain network creates a platform where investors can have an opportunity to invest in projects which have an impact on society as a whole. Blockchain tech has always been about breaking the barriers, and DLT communities have come forward more often than not for the righteous causes.
Many blockchain projects have come up which focus on fighting social problems. For instance, technology behemoth IBM is working on a blockchain project to eliminate the evil of counterfeit medicine in African nations. Last month, Huobi Exchange and Dogecoin came together to raise funds for Grateful Dog Rescue, a San Francisco based canine rescue and sheltering organization.
Blockchain and crypto have also helped various recession-hit and hyperinflation-struck countries like Venezuela and Zimbabwe, giving the citizens a more stable option to survive the economic downfall. More interestingly, blockchain and crypto can also be used to help people fighting social injustice. Earlier in April, donations poured in the form of Bitcoins and other altcoins for the raising funds for the legal battle of Wikileaks founder Julian Assange.
BLOC’s partnership with Binance is huge, given the dominance of the latter in the crypto space. MDAB is a utility token, which will be used on BLOC, to facilitate philanthropic activities taking place on the platform.
Issuing the token on Binance Chain will enable BLOC to build a transparent, decentralized and immutable ecosystem of community members, including financers, investors and users. This would create a social bond between the community and the society, based on kindness and love, says the company in a blog post.