What’s Going On?
Cryptocurrency exchange Binance has teamed up with the Maltese President’s Trust to create the Blockchain Charity Foundation.
Why Does It Matter?
The new foundation will use crypto technology to “empower vulnerable communities and enhance transparency in charitable work”, reported NewsBTC. A memorandum of understanding regarding the new venture was signed by stakeholders including Helen Hai, a goodwill ambassador of the United Nations Industrial Development Organization, and Maltese President Coleiro Preca.
Who Will Do What?
President Preca will chair the foundation’s senior advisory board, while Hai will head the foundation, reported The Times of Malta.
“This will have a major impact on how social issues and charity work is done in future years,” said President’s Trust trustee Michael Bianchi. Hai told the Times the Foundation would address the most pressing global social issues.
“I am truly pleased that we have come to the signing of this Memorandum of Understanding with the Blockchain Charity Foundation,” President Coleiro Preca told Malta Today this week. “This foundation, the first of its kind in the world, will develop humanitarian projects to effectively address the United Nations Agenda 2030 and its Sustainable Development Goals. Through this agreement, The President’s Trust and the Blockchain Charity Foundation will develop socio-economic projects in Malta, to address social challenges. Moreover, Blockchain technology will be used to increase efficiency, transparency and to measure the social impact of the respective projects.”