UNDP Joins Hands with Blockchain Charity Foundation to Explore Crypto for Social Good

UNDP Joins Hands with Blockchain Charity Foundation to Explore Blockchain for Social Good

The United Nations Development Programme (UNDP) has partnered with Blockchain Charity Foundation (BCF) to explore the possibilities of the blockchain technology for the social good. The $1 million contribution of BCF was announced at a side session co-hosted by the non-profit organization, during the 73rd UN General Assembly.

Speaking about the deal, the head of Blockchain Charity Foundation, Helen Hai, said that:

“We firmly believe that blockchain technology will bring transformative solutions to social problems, and help bridge the UN Sustainable Development Goals funding gap in fast and innovative ways…Working with UNDP, our aim is to eradicate poverty and empower and bring prosperity to millions who are marginalized and living in poverty. We are honored to host this meeting today, and partner with UNDP to provide social impact financing and improve philanthropy with blockchain.”

The assistant secretary general of the United Nations, who’s also the director of Regional Bureau for Asia and Pacific at UNDP, Haoliang Xu, also aired his views on the partnership, saying that they believe blockchain could have a great impact particularly in developing world, where numerous issues are tackled. He further noted that:

“We are excited to see the strong commitment from BCF to work with UNDP to explore how blockchain technology can help develop solutions to some of the most difficult development challenges in Asia and the Pacific.”

BCF to Further Pursue Blockchain Opportunities

With the help of UNDP, BCF – a non-profit organization – will further pursue blockchain opportunities, looking at cases where it can be utilized in providing solving developmental challenges, especially in Asia-Pacific regions. The company is initiated by one of the largest cryptocurrency exchanges by trading volume, Binance, and further supported by Tron, a platform for decentralized entertainment ecosystem.

BCF previously unveiled its decentralized charity platform during the ‘Blockchain for Social Good: Utilizing Blockchain to Aid Economic Development,’ where it showcased how donations can be specifically tracked from the donor to end beneficiaries, enhancing trust, credibility and efficiency of projects.

BCF co-hosted a UN side event, where a high-level group of leaders across the world, debated how blockchain could contribute to economic transformation. The sessions saw audience from various UB missions around the world, including member so the Senate from Tunisia, Madagascar, South Sudan, Uganda, Congo, France, and other countries. The speakers in attendance included president of Malta, Her Excellency Marie-Louise Coleiro Preca; Envoy of the secretary-general on South-South Cooperation and UNOSSC director, Jorge Chediek; and executive director of Mercy Corps Europe, Simon O’Connell, among others.

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