Despite an initial announcement in July, little has been known about the charity foundation started by blockchain ecosystem giant, Binance.
However, recent news such as the appointment of UNIDO Goodwill Ambassador for Industrialization in Africa, Helen Hai, and the subsequent partnering with the Malta Presidency have propelled the foundation into the spotlight.
Now, Hai has confirmed to Cryptodisrupt that she is working to cement relationships with large worldwide organizations, including the UN, and that she expects no problem in helping to raise around $100 million by the end of the year, starting with a large donation from Binance itself.
Speaking exclusively, she said, “We are working with traditional outlets first, but there are a lot of crypto giants interested in working with us because they trust Binance to safeguard their currencies.”
“The population as a whole is gradually accepting technology, yet donations to charities are down because of a lack of transparency. We hope to fix that.”
Working towards that, Hai has announced two goals:
Firstly, The Blockchain For Social Good Center, which will connect with the UN, WEF, WPL and other global platforms. She said: “We have positioned ourselves on the global stage so that we can work with global leaders to advocate for new and better policies that allow for cryptocurrency to proliferate and become channeled towards social causes.”
And also, The Decentralizing Charity Platform, which aims to make donations 100% transparent with all proceeds donated to the end-beneficiaries. This would include stimulating innovation within the infrastructure of social finance, possibly working with causes already established.
The foundation has released a manifesto calling for other charities operating in the tech space to team up, and develop a working platform that encourages transparency through decentralization.
Hai explains her vision for such a platform, “It would not simply be a place from which to donate towards humanitarian causes transparently, but a crowd-empowered methodology of advancing social innovation sustainably, responsibly, and respectfully across all regions, economies, and cultures.”
The charity is currently working with African nations to establish some small test cases, as well as coordinating a Senior Advisory Board (of which the President of Malta, Marie-Louise Coleiro Preca has agreed to chair), and also a Global Technical Board.
During a signed memorandum in Malta Dr. Michael Bianchi, a trustee of the President’s Trust who is also involved in the world’s first crypto bank, said that the foundation should empower socially disadvantaged people and would be changing the face of charity work in the coming years.
In July he announced: “We are very happy to be starting a collaboration with Blockchain Charity Foundation enabling the use of blockchain technology to provide a social and economic impact. This is a world first and will have a major impact on how social issues and charity work is done in future years.”
With upcoming board meetings in New York and Geneva over the next few months, the foundation hopes to demonstrate the results of a successful pilot study in October as part of the Blockchains for Sustainable Development session at the UNCTAD World Investment Forum.