U.S. Markets closed

Binance Unveils Blockchain-Based Donation Portal at UNCTAD World Investment Forum

GENEVA / ACCESSWIRE / October 24, 2018 / On the 73rd anniversary of UN Day, Binance-initiated Blockchain Charity Foundation (BCF) launched a blockchain-based donation portal at the UNCTAD World Investment Forum. The charity system will begin accepting donations immediately, with initial support for BNB, BTC and ETH cryptocurrencies. BCF will also open a donation channel to support victims of the floods and landslides in Eastern Uganda.

Binance CEO Changpeng Zhao delivers keynote at the Blockchains for Sustainable Development Forum

''Donations through the BCF platform will ensure full transparency, accountability and direct reach to end recipients,'' said Helen Hai, UNIDO Goodwill Ambassador for Industrialization in Africa and Head of Blockchain Charity Foundation. Speaking at a UNRISD Seminar on Blockchain for Inclusive and Sustainable Development, Helen said: ''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.''

Hosted in the Human Rights and Alliance of Civilizations Room at the Palais de Nations, the Blockchains for Sustainable Development forum assembled more than 700 attendees from around the world. Organized by the IFLAS initiative on Blockchains for Sustainable Development and supported by BCF, this marked the first blockchain session ever held at World Investment Forum.

''Transparency will help improve all 17 of our Sustainable Development Goals,'' said Binance CEO Changpeng Zhao (CZ) during a keynote presentation. Introducing BCF's blockchain-enabled donation portal, CZ described the impact blockchain had on fundraising and donation distribution during disaster relief in West Japan last month, and spoke on the architecture of BCF's donation portal:

''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.''

As a charity arm initiated by cryptocurrency exchange Binance, BCF aims to use blockchain technology to drive concrete results in achieving the UN Sustainable Development Goals (SDGs). Representatives from Bancor, UNICEF, IBM, Hyperledger, ConsenSys, the public sector and others, also gathered at the forum to discuss the implementation of blockchain toward the SDGs.

During an evening reception at WIF hosted by BCF, Tron Foundation pledged an initial amount of US$3 million to BCF to be used towards advancing blockchain efforts for charity.

''All of us here have made the decision to be leaders in shaping blockchain technology for social good,'' said Justin Sun, CEO of Tron Foundation. ''Binance Charity Foundation is taking substantial steps in that direction by increasing the transparency of donations so we can see where the goodwill of the donors is going and what impact it has.''

Recognized as the top global gathering of trade and investment policymakers and their stakeholders, the UNCTAD World Investment Forum took place in Geneva October 22-26, 2018, at the Office of the UN in Europe.

To donate and learn more about BCF, visit https://www.binance.charity.

About Blockchain Charity Foundation:

Blockchain Charity Foundation (BCF) is a not-for-profit organization dedicated to the advancement of blockchain-enabled philanthropy towards achieving global sustainable development. Initiated by Binance, BCF aims to transform philanthropy by developing the world's first decentralized charity foundation to build a future where blockchain technology can be used to end all forms of poverty and inequality, advance sustainable development and ensure that no one is left behind.

Contacts:

Leah Li
+972-545-464-238
pr@binance.com

SOURCE: Blockchain Charity Foundation