Binance is building a new charity foundation and the process to choose who is going to work in this new organization has already begun. Today, a goodwill ambassador of the United Nations Industrial Development Organization (UNIDO), has been chosen to work on the company. Helen Hai, whose work is focused on development in Africa, will be the head of the new charity foundation.
According to Binance, Helen is true believer of the same belief that drives the foundation, that blockchain should be used for social good. By making charity more transparent than it already is and improving the support that organizations charity have, the blockchain technology can be a key to take charity to the next level.
Welcome UNIDO’s Goodwill Ambassador @Helenhaiyu to join as head of @BinanceBCF to use Blockchain for Social Good. Ambassador Hai is WEF’s Global Young Leader.#Binance #BinanceCharityFoundation pic.twitter.com/Mme0aR9Nf9
— Binance (@binance) July 9, 2018
Reports state that Helen Hai has recently led a charity effort on behalf of the foundation, so it looks like her job has already began. This led to a collection of donations from people in East Africa.
The Binance Charity Organization
The charity organization is Binance’s latest effort. The profit of the company in 2018 will likely surpass $1 billion USD, so the company is certainly looking for ways to put this money to good use. The future structure of the charity organization is not yet fully defined, but it will grow and evolve in the following years.
Binance has also invested in many blockchain startups recently and it looks like this trend is bound to continue. The company has also recently announced a $1 billion USD “social impact fund” that will be used to invest in companies that help to make the world better.
According to Ella Zhang, which leads the exchange’s incubator program, Binance believes in the disruptive power of social experiment. This leads the company to invest in companies which dare to move forward the industry and cause a positive effect on the society.