Blockchain Charity Foundation (BCF) has inked a strategic partnership with the United Nations Development Program. The Binance created foundation supports the utilization of blockchain technology for social good as a result of the partnership. The Charity Foundation is committing a $1 million donation to the United Nations blockchain drive.
Blockchain for Charity
In addition, TRON (TRX) has also extended its support to the initiative. According to Founder, Justin Sun, they will play a strategic role in accelerating blockchain technology utilization in the charity field. TRON has also confirmed a $3M USD donation to BCF that will go towards supporting blockchain efforts for charity.
Blockchain is one of the few technologies in operation that offer full transparency and traceability. These capabilities allow it to run complex programs simultaneously. By leveraging these capabilities, it seems like BCF and TRON hope to solve most of the challenges that face charities in the modern world. Donation traceability is one of the nagging issues in the space as well as traceability of donated funds.
TRON Blockchain Push
TRON is hoping to spearhead the mass adoption of blockchain technology in the beleaguered charity arena. The blockchain platform runs one of the most advanced and largest decentralized networks ideal for the current push.
The use of digital ledger technology (DLT) should go a long way in bringing together various entities given the increased levels of transparency. Donors, volunteers, as well as organizations, should consequently be motivated to make donations given the abuse-resistant nature of such charities.
“I will dedicate the resources I have gained from co-governing the network to causes that will benefit and empower society. I hope my actions will inspire more people to tap into the great potential of blockchain technology to truly make a positive impact,” said Mr. Sun.
TRON is currently looking for solutions that will leverage blockchain technology. Likewise, the end game is to come up with decentralized applications for solving challenges in the charity field. The firm is also encouraging community members as well as developers to join the movement. The partnership should allow the company to drive innovation in the field and empower people around the world.
Binance, on its part, has confirmed it will donate 100% of its listing fees to its charity foundation as part of the drive. Hence, Binance CEO, Changpeng Zhao, and Mr. Sun will be guest speakers at a blockchain seminar organized by the World Investment Forum this month.
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