The capital used will be free of corruption. The blockchain platform is active on the official website of Binance, to receive the donations that will drive these initiatives
Through a publication made on February 21st in the official blog of the company Binance, the charitable project that will feed African children through a tool based on blockchain technology was announced.
Through the charity organization of the famous exchanges company, Binance Charity Foundation (BCF), a technological solution was recently launched. It will bring free food to more than 200 African children studying in very low-income schools in Kampala, capital of Uganda. According to the organization’s publication, the goal is to bring two meals a day to the children and staff working at the school throughout the year 2019.
The food project in Uganda is just a pilot test of what the charity has among its plans, since it is only part of the purpose they have set. Binance seeks to develop the project on a larger scale over the medium term. They estimate that they can take food to more than one million student children in schools countries in need such as Kenya, Ethiopia and Rwanda.
The company revealed that the blockchain system they will use is a platform designed and developed by them with support on their own platform, to receive donations from their users and customers. The platform that collects the money is directly related to the funds of the BCF organization, which promises to distribute the money to the most vulnerable sectors.
Through a publication issued by the organization, it was known that the fundraising campaign began during the week of January in which Binance Blockchain was developed in Singapore.
In the same sense, the press highlighted that the distribution of donations began during a ceremonial event attended by more than 500 people who participated in the project. Among them, special emphasis is given to the initial partners of the BCF idea, who are non-profit organizations such as Dream Building Service, and the blockchain company with privacy and security solutions, ZCoin.
Shortly after the event, it was known that the blockchain firm ZCoin made a substantial donation in cryptocurrencies valued at 24,000 US dollars, in order to support the start of the social project, which began with the Jolly Mercy Learning Center in Kampala.
On the other hand, Rosemary Nansubuga Seninde, who is Minister of State for Primary Education in Uganda, stressed that this initiative is not only a donation, but an effective tool that will allow the protection of the capital used, which will be safeguarded of any kind of corruption.
This initiative of charity is not the first one that the signature of exchages Binance develops. In October last year the company revealed that it received a donation of more than three million dollars, made by the Tron Foundation, which was directly provided to BCF with the intention of supporting terminally ill patients and children in need in Gozo and Malta.
By María Victoria Rodríguez