The Blockchain Charity Foundation (BCF), one of the projects from Binance has introduced its blockchain-powered donation platform recently.
It is a donation-related project and was declared at the World Investment Forum organized by the U.N. Conference on Trade and Development (UNCTAD) in Geneva, Switzerland, on Wednesday, Oct. 24.
Binance CEO Changpeng Zhao (popularly known as CZ ) participated in the ‘Blockchains for Sustainable Development’ session. He stated that Binance would cover all operational fees on the new BCF blockchain charity website. Moreover, all donations would go directly to its beneficiaries.
As Binance declares, BCF will first use its donation platform to raise funds for the victims of the floods and landslides in Eastern Uganda. It added that TRON Foundation, the decentralized blockchain project has vowed an initial donation of $3 million to BCF.
Notably, BCF is already receiving donations in Bitcoin (BTC), Ethereum (ETH) and Binance Coin (BNB).
Zhao further elaborated about crypto donations raised for West Japan after the devastating floods in mid-July. Binance had donated over $500,000 to various organizations through local intermediaries.
He believes that blockchain technology contributes to providing better transparency in donations. He concluded by saying that all of Binance’s listing fees would be donated to charity and that Binance would enable developers to name the amount they pay, without demanding a minimum fee.