The non-profit organization of Binance, Blockchain Charity Foundation (BCF) has recently initiated a partnership with UN Development Program in order to eliminate poverty all over the world by incorporation of blockchain based solutions.The announcement of this alliance was made recently in UN General Assembly in New York. Marie Louise – Coleiro, the president of Malta, and the representatives of WPL were among the attendees.
BinanceBCF has set a precedent for the entire tech world by harnessing the power of blockchain to promote sustainable growth and economic stability all over the globe. BCF is employing its unique position to provide more transparent and efficient way of accumulating funds from donations for people victimized by a crisis. BCF has also incorporated smart contracts to enable consensual solutions to problems.
UNDP has previously dabbled in the field of blockchain, but with BCF by its side it plans to consolidate transparency, accountability and efficiency within its charity institutions
Elaborating how BCF is striving for the betterment of economic conditions all over the world by the integration of a blockchain based philanthropic platform, Binance told BlockPublisher in an email,
Our vision is to build a future where blockchain technology can be used to end poverty. Our partnership with UNDP is one step in this direction and will enable us to continue working toward using blockchain for social good. UNDP is already working on global blockchain initiatives (like building a blockchain-based land registry in Haryana), and BCF will be able to help scale those solutions and build this ecosystem.
BCF aims to alleviate poverty as well as support a number of social causes that include gender equality, youth and children development, alleviation of global warming and responsible production and consumption of goods. Currently BCF is working alongside governmental as well as private institutions to test the boundaries of decentralized technology and provide solutions based on it.