Binance’s philanthropic arm, Binance Charity Foundation initiated Australia Bushfire Donation Program to donate $1 million USD in its native cryptocurrency, BNB. It’s been reported that hundreds of houses have been destroyed, yielding nearly 15 deaths. Forest fires have been a part of Australia history, but never to this extent. Due to all the casualties, this will go down as the worst fire season Australia has ever witnessed.
The exchange intends to help with the Australia bushfire relief by raising $1 million in expected funds. At the essence, Binance Boss “Changpeng Zhao (CZ)” expressed his grief and said that they want to help this urgent crisis. He says that;
“It is painful to see the bushfires burning across Australia as well as the devastating effects on the ecology and the local community.
He further assured that the donation will be direct and act as the most effective approach to help alleviate the impact of bushfires burning across Australia. He went on to add that;
“Donating for Australia Bushfires charity program is the most direct and effective approach to make an impact, and we are also calling for the whole crypto community to join us in supporting Australia.”
At the time of reporting this, one Binance Coin (BNB) is valued at $15.05 and the charity program accepts BNB as a donation. As the donation program is built on top of the blockchain, donors can be confident their donations are going to the right place, which means that the blockchain makes the transaction open for public verification.
Moreover, Helen Hai, the head of the Binance Charity Foundation is looking to reach as many ‘local organizations and communities” as possible to pass on donated BNB cryptocurrency ‘to the hands of each beneficiary’. Anyone with recommendations can reach out to the Binance charity team at email@example.com. In addition, she states that;
“We feel for the people who have suffered losses in this natural disaster and we strongly want to do our part to help. It is also the original intention we had when we created this platform which is to use technology to empower people and to help those who need it the most,”
As a non-profit organization, Binance Charity Foundation has been operating since 2018 with a vision to improve the transparency of the donation. So far, the exchange has been a part of various charity programs including food donation to over 5000 students in 11 schools, sanitary pads to over 10,000 young girls at 55 schools, solar panels to 51 schools and other similar philanthropic work.
Image Source – pbs.org