The 73rd anniversary of the UN Day marked an important event for the blockchain community. Binance’s Blockchain Charity Foundation (BCF) launched a blockchain-based donation portal at the UNCTAD World Investment Forum. The system has started accepting donations and will support three currencies initially, namely- Bitcoin, Ethereum and Binance Coin. A donation channel to support the victims of landslides and floods in Eastern Uganda will also be opened.
Binance Chief Speaks at the Sustainable Development Forum
Changpeng Zhao, the CEO of Binance, delivered a keynote address at the Blockchains for Sustainable Development forum. He said that transparency would be important in improving all 17 of their Sustainable Development Goals (SDGs). He introduced the blockchain-enabled donation portal to the audience.
He talked about the use of blockchains in disaster relief in Japan and explained how the technology could be useful in tracking funds better. He noted:
”Conceptually, it is easy to track the flow of funds through the layers, and we can make this 100% transparent. At the same time, for anything Binance is involved with, we pledge that 100% of donations will go to the end beneficiaries, and all costs will be covered by Binance, the company, and the foundation.”
BCF Supports UN’s Sustainable Development Goals
The head of BCF and UNIDO Goodwill Ambassador for Industrialization in Africa, Helen Hai was also present during the event. She noted:
”Donations through the BCF platform will ensure full transparency, accountability and direct reach to end recipients.”
At the UNRISD Seminar on Blockchain for Inclusive and Sustainable Development, she commented:
”BCF will leverage blockchain technology to help fill the UN SDG funding gap and directly empower over one billion people living in poverty. We believe poverty is not a destiny.”
The event was hosted at the Palais de Nations and had over 700 attendees assembled by the Blockchains for Sustainable Development forum. It is the first time a blockchain session has been held at the World Investment Forum. Representatives from IBM, Hyperledger, ConsenSys, and Bancor were also in attendance during the event.
BCF is a charity arm of the world’s largest cryptocurrency exchange Binance. It is dedicated to using blockchain technology to help achieve the SDGs of the United Nations. The Tron Foundation has pledged an initial amount of $3 million to the BCF to help its charitable efforts.