Binance Charity Seeks Crypto Donations for Hurricane Dorian Relief
Binance Charity, the philanthropic division of leading cryptocurrency exchange Binance, has started a movement to aid victims of Hurricane Dorian.
In this regard, Binance Charity has started receiving crypto donations that will be utilized to offer food and other assistance to hurricane victims via domestic organizations in damaged regions.
Binance, on its campaign website, states that crypto donations in Binance Coin (BNB), Bitcoin (BTC) and XRP will be sent to the Hurricane Relief Project. The program has so far received 14 donations totaling 0.558 BTC (~5,860).
So far, the funds have not been distributed. Binance charity has stated that the donations and final disbursements will be stored on a blockchain, making the entire process transparent and verifiable.
Along with a request for donations from blockchain and crypto enthusiasts, Binance Charity also welcomes suggestions on speeding up the process of disbursement and making it further effective.
Hurricane Dorian has already left the US coast and is moving towards Nova Scotia, Canada. Quoting the International Federation of Red Cross and Red Crescent Societies, Binance has highlighted shortage of food and other aid to 400,000 people. The Charity organization has also stated that 13,000 homes have been totally destroyed or partially damaged.
As per a report by Vox, 40 people in the Bahamas have been killed by the hurricane while some forecast the number to increase as recovery process begins. The ground scenario has been described by Health Minister Duane Sands as follows:
“I believe the number will be staggering. I have never lived through anything like this and I don’t want to live through anything like this again.”
The exponential growth of cryptocurrency sector has paved way for digital currency’s entry into charity works. Notably, Binance charity has earlier backed initiatives associated with women’s education and health.
Even the Rainforest Foundation has requested crypto and blockchain enthusiasts to donate in cryptos and assist in battling deforestation in Amazon. As per the foundation, deforestation in Brazil has increased by 75% since Jair Bolsonaro, right-wing President, took the helm.
In August, Fidelity Charitable, an independent public charity, revealed that it has received donation of $100 million in cryptocurrencies since it started accepting crypto in 2015.