Binance and Tron (TRX) Pledge to Donate $100,000 to Charity for the Malta Community Chest Fund
The information was released by Binance in a blog post a few days ago. The main intention is to improve the life of those that are affected by sickness, disability and vulnerabilities.
The Malta Community Chest Fund Foundation works to improve the lives of those who are passing through difficult times due to sickness, disability and economic vulnerability. Please help support their cause through @BinanceBCF's fundraising channel: https://t.co/kW81R2qGnL pic.twitter.com/ZW22ZskjtG
— Binance (@binance) December 20, 2018
The donation will be processed through the Binance Charity Foundation (BCF), the philanthropic arm of the cryptocurrency exchange. The funds will be provided to terminally ill patients and also disadvantaged children in Malta. The funds will be received by the Malta Community Chest Fund Foundation. 15,000 individuals will be benefited from this donation.
The donation campaign is called as L-IstrinaCampaign and it will be open to accepting donations on Binance Charity. Users can easily track the funds provided using the blockchain.
This is a good opportunity for blockchain and cryptocurrency-related companies to show their social responsibility. Marie-Louise Coleiro Preca, the president of Malta believes that companies can show how blockchain technology can be used for social causes.
On the matter, Changpeng Zhao, the CEO and Founder of Binance, commented:
“Binance is just doing our part to contribute to people who are in need. Charity is one of those areas where everyone should help out if they can. With blockchain technologies, we can solve the transparency problem in charity – increasing the amount of charity people will do. I hope to encourage more people in the space to use crypto for social good.”
“Binance is just doing our part to contribute to people who are in need. Charity is one of those areas where everyone should help out if they can,“ said @cz_binance. With blockchain technologies, we can solve the transparency problem in charity. @binance
— Justin Sun (@justinsuntron) December 23, 2018
The MCCFF thanked both companies, Tron and Binance for the contribution they did to those individuals in need. At the same time, the main intention is to encourage other companies in the industry to help those individuals that need help.
The Binance Charity Foundation was created by the exchange in order to promote blockchain philanthropy in the space. Using the foundation, users can track all the funds that it receives and how they are distributed to charities around the world.
Binance has also helped those affected by floods in Japan a few months ago. The crypto exchange has donated $1.4 million to organizations trying to mitigate the devastating effects of the floods.