Blockchain-Based Lunch Program In Africa Launched By Charitable Arm Of Binance
One of the beautiful and kind actions to come out of the cryptocurrency/blockchain community is charity. This industry has thrived in ways that could not have been expected, and highly successful firms are using their technology to help people in unbanked and underprivileged areas. A perfect example of these acts of kindness comes from the charity arm of Binance. This extension of the world’s largest crypto exchange has made it possible to offer a lunch program for African schools.
The new blockchain-based program of Binance Charity Foundation (BCF) is called “Lunch for Children,” and it is based out of Uganda, Kampala. With the new program, children will have access to two meals a day during school hours for the whole of 2019, though the program is available to school staff as well.
This contribution is part of a greater campaign, aiming to help 1 million students in other countries as well, including Ethiopia, Kenya, and Rwanda. On February 21st, the official Twitter account of Binance posted an image of the first school to have access to the lunch program with the caption:
“The launch was held at Jolly Mercy Learning Centre in Kampala, Uganda, providing 2 meals a day for a full year (end of 2019) to more than 200 students & school staff.”
The official press release for this donation says that there were over 500 participants at the launch. Along with the school members and students, some of BCF’s initiative partners were in attendance, including privacy-oriented blockchain firm Zcoin and Kenya-based non-profit organization Dream Building Service. Zcoin team contributed $24,000 in cryptocurrency with their investors to support Kampala’s Jolly Mercy Learning Center, the host of the launch.
On their involvement with this endeavor, COO Reuben Yap of Zcoin added,
“We were intrigued especially when we learned how the funds were directly traceable to the direct end recipient and how they ensured that those cryptocurrencies could be spent on goods. Although we’re a privacy coin, in this case, blockchain donations allow full end to end traceability of funds for transparency and accountability. We are hopeful that Lunch for Children sets a good first model in using cryptocurrency for donations and builds awareness of the potential of blockchain technology in charity.”
Rosemary Nansubuga Seninde, the Minister of State for Primary Education in Uganda, said that this program is more than just a donation. The way that Binance organized it ensures that third-party corruption cannot occur and cannot take their benefits.
The headmaster of the school, Dr. James Ssekiwanuka, discussed the resourcefulness of blockchain technology in this circumstance, adding,
“It is not only a donation but a disruptive and significant combination of technology and charity, which enables a higher level of trust between stakeholders involved in this process because people are protected from potential corruption that is vulnerable with middlemen.”
The charity arm of Binance was launched in October last year, supported by a donation of $3 million from the Tron Foundation. By the end of the year, they added another channel to the charity to help terminally ill patients and disadvantaged children in both Malta and Gozo.
Tron is no stranger to charitable work. Justin Sun, CEO and founder, recently collaborated with the ALS foundation for a blockchain-based campaign to support research into treatments for this painful disease.
Even though charity is a helpful way to benefit the entire world, especially in these circumstances, it is a business. Even with the infrastructure in place, complications and taxation and more can prevent the target of these donations from seeing the majority of the funds. Blockchain technology ensures that the donors and recipients can see every single cent that passes through the funding, giving more security in the money that will support their efforts. Binance specifically said that all of the information will be accessible to all parties involved.
Dr. Ssekiwanuka added,
“All the allocation records are demonstrated on the blockchain which is immutable. I firmly believe that the public trust and willingness to participate in this intervention will grow dramatically as the donors see their goodwill changing the lives of the students, in real time.”