It is not always that you hear blockchain and charity in one sentence. The technology that is taking the world by storm will delve into the charity sector. It came as a surprise to the industry including Denis O’Brien who is known for his various causes through his established foundation.
Binance is one of the leading cryptocurrency exchanges in the planet which is determined by the trading volume on a daily basis. It has also made waves in Malta. The firm decided to form a partnership with the President’s Trust in order to launch the Blockchain Charity Foundation.
The launch of the foundation was made known to the public during the MOU signing event. The foundation is going to utilize technology that is the basis of cryptocurrency in order to strengthen the communities that are defenseless and to improve the transparency when it comes to the charitable work they do.
The signed MUO or memorandum of understanding is made by Helen Hai, the United Nation’s goodwill ambassador in charge of industrial development organization, H.E. Marie Louise Coleiro Preca, the president of Maltese and Dr. Michael Bianchi, the person in charge of the President’s Trust. The signing was held at the Presidential Palace located in Balzan, Malta.
Dr. Michael Bianchi, who is a part of the established first crypto bank in the planet, gave a speech during the MUO signing. He said that the aim of the foundation is to give hope to those who are socially lacking and they are hoping that the foundation will make some big changes in the industry.
Blockchain Charity Foundation carries the motto: “Blockchain for social good”. Binance is known to be a fan of the motto.
Hai, on the other hand, was chosen to be the foundation’s head. She was chosen because she has knowledge when it comes to developmental economics. Just like the foundation started by Denis O’Brien, the Blockchain Charity Foundation will give emphasis on the social issues that the world is currently facing. This is in line with the UN Agenda for the year 2030 and its goal of reaching sustainability.