On 24th October, Binance’s Blockchain Charity Foundation (BCF) announced their new blockchain donation portal. The announcement came at the World Investment Forum (WIF) held in the Geneva offices of the UN.
Operating costs would be covered by Binance, allowing for 100% of donations to go towards the beneficiaries.
In the announcement, Binance committed itself towards blockchain for charity, citing accessibility and transparency as areas where blockchains could aid the process.
Having gained experience in gathering and distributing cryptocurrency donations during the recent floods in western Japan, the portal is an extension of these earlier efforts. The BCF hopes to make blockchain-based donations easy for both organisations and individuals.
They are currently working to build a support system to donate to victims of the Ugandan floods and landslides.