Crypto Against COVID
Initially, Binance Charity Foundation is launching this new initiative with a donation of $1 million but aims to raise $5 million in cryptocurrencies from the crypto and blockchain community.
The COVID-19 pandemic is continuously affecting people and the number of deaths due to this epidemic is increasing with each passing day. To fight against this pandemic, Binance Charity has announced to launch another charity campaign known as “Crypto Against COVID” to help affected people as much as it can.
Medical equipment will be supplied to Covid-19 affected countries
Binance Charity Foundation will use the raised $5 million funds through its global charity campaign to buy medical equipment which will be supplied to those countries that have been severely affected by the Coronavirus epidemic such as Italy, Germany, Spain, the Republic of Korea, Iran, Turkey, U.S., and the U.K.
The founder and CEO of Binance exchange, Changpeng Zhao encourages the crypto community to become unite against this pandemic and asks them to contribute to campaign so that they could together combat this epidemic.
“The crypto community is a growing force and we have an opportunity to strengthen this through philanthropy. We encourage the community to take part in this initiative as we unite against COVID-19, and together, we’ll drive impact”, he said.
The Charity Foundation assures to publish the transactions which will be made through the donated funds as BCF seeks to have full transparency in this case.
‘Binance for Wuhan’ Project
The global charity campaign “Crypto Against COVID” is not the first initiative taken by the BCF. The foundation already initiated the “Binance for Wuhan” project in February. During this project, BCF spent $1.4 million to purchase medical supplies.
The foundation gave 366,000 pairs of gloves, 56,800 masks, 9 sterilizers, 5,280 bottles of hand sanitizers, 20,000 testing kits, 7,850 protective suits, 20,000 pairs of goggles, 388 oxygen concentrators, and 1000 germicidal lamps to a number of hospitals in China.
Helen Hai the head of Binance Charity considers it a crucial “element of human life to show compassion. She stated, “The most important element of human life is to show compassion and help others as we can, without the limitation or restriction of borders. Blockchain technology enables this in greater capacities than ever before and Binance Charity wishes to bring this to the masses”.