Coronavirus has rendered countries helpless with quarantines and ceasing of economic activities imposing heavy losses. Governments all across the world are trying their best to come out of the pandemic, and are welcoming charity and donations to get the economy going and provisioning services to fight it. When many organizations, big and small are contributing to the cause, Binance Charity foundation also has launched a charity initiative called Crypto Fight against COVID. With the objective to raise money in digital currency especially from the active blockchain community, it aims at pooling resources to fight the virus and its effects.
The non-profit charity is a part of the Binance group and is looking at raising at least $4 million. The amount collected will be used to provide medical equipment and other supplies in the most affected nations like Italy, Germany, and the US. The need for accumulating such massive resources stems from the fact that these countries are registering the most number of deaths as the health care systems have been saturated. It is looking forward to a contribution to the tune of $1 million from the crypto community. To begin with, the charity foundation has already donated $1 million and also is planning to pool in the targetted amount as soon as possible.
Before being converted into fiat currency, these transactions will be duly recorded on the blockchain to display maximum transparency. The donations are taken in the form of Binance coins, Binance USD and Bitcoins will only be employed for charity purpose with the details published on the official site of Binance charity. The website gives clear instructions on how to make the payment.
The Binance charity foundation have been incessantly doing some great philanthropic work that has benefitted more than 100,000 people. It can be benefitted from contributing to crucial causes like tackling starvation and donating to Australian Bushfires. With its ongoing efforts to combat the virus, it has already donated masks, test kits, and gloves to more than 100 hospitals. Now it is urging the crypto community to support them in order to achieve normalcy in the situation.
With its continuous efforts in raising funds and serving severely hit COVID-19 countries, it aims to achieve its objectives.
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