Binance announces joint charity fund on Malta

Posted 26 July, 2018

One of the key crypto trading platforms – Binance – announces a cooperation with the Trust of Malta's President targeting Blockchain Charity Foundation (BCF).

On July 25, the company reportedly entered into MOU with the President's Trust and Helen Hai, a goodwill ambassador of the United Nations Industrial Development Organisation.

Michael Bianchi, a trustee of The President’s Trust, said:

"We are very happy to be starting a collaboration with Blockchain Charity Foundation enabling the use of blockchain technology to provide a social and economic impact. This is a world first and will have a major impact on how social issues and charity work is done in future years.” 

The MOU is aimed at defending blockchain technology and its application in humanitarian and environmental areas as well as providing information about the blockchain and its influence on the society and economic situation. 

Malta's President will be Chairman of the BCF Supervisory Board, while the organization will be lead by Helen Hai.

"I am truly pleased that we have come to the signing of this Memorandum of Understanding with the Blockchain Charity Foundation. This foundation, the first of its kind in the world, will develop humanitarian projects to effectively address the United Nations Agenda 2030 and its Sustainable Development Goals. Through this agreement, The President’s Trust and the Blockchain Charity Foundation will develop socio-economic projects in Malta, to address social challenges. Moreover, Blockchain technology will be used to increase efficiency, transparency and to measure the social impact of the respective projects," commented the President of Malta.

Notably, Binance will not be the pioneer in charity projects among crypto companies. Specifically, it was reported this spring that Ripple Company donated $29 million in terms of XRP to finance of all school projects that asked funds via charity portal. Coinbase reportedly launched its own charity fund – GiveCrypto.

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26 July, 2018 18:25

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Bitcoin price has posted some gains in the second half of the week and maintained positions above the $8,000 line. Today, the leading coin changed hands on the Bitfinex at $8,217.40; Ethereum on this platform moved up to $476.6. Ripple coin gained 1.23% reaching $0.46157. At the same time, Litecoin price slightly decreased to $86.780.

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26 July, 2018 15:20

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