The recent donation of $3 million dollars made by Tron founder, Justin Sun to support the Blockchain Charity Foundation has attracted a lot of appreciations.
Binance CEO Changpeng Zhao,” CZ,” announced this in a tweet to show his appreciation;
“Justin proactively approached us and made a very generous donation, $3m USD equivalent. Respect!”
Sun in another tweet said he is excited to partner with the Foundation and beckons on others to join him;
“I am excited to collaborate with @BinanceBCF to explore the solutions #blockchain can bring to the nonprofit sector. I hope my commitment will inspire others to join this movement. Look forward to working closely with BCF and the @UNDP!”
Blockchain Charity Foundation (BCF) is a non-profit initiative by Binance which works together with the United Nations Development Program (UNDP). The initiative is aimed to make a positive impact on society by using blockchain created solutions.
This innovative approach stirred up the interest of the Assistant Secretary General of the UN, Haoliang Xu, who stated that the emerging Fintech industry would support projects and initiatives geared toward helping people.
According to a report from Forbes, founders and representative of Tron and Binance have indicated their interest in using the blockchain technology to better the lives of people. Sun announced that Tron would take the lead along with Binance in utilizing the blockchain technology towards supporting charity field;
“I believe it is my responsibility to lead the movement in applying blockchain technology to improve people’s livelihoods around the world. I will dedicate the resources I have gained from co-governing the network to causes that will benefit and empower society. I hope my actions will inspire more people to tap into the great potential of blockchain technology to truly make a positive impact, said Justin Sun, Founder of TRON, CEO of TRON and BitTorrent.”
Still, on the report, Binance had earlier announced that the exchange is going to donate 100% of its listing fees to BCF;
“Blockchain is mobilizing governments, NGOs and the private sector, to transform the charitable giving sector. With the donation tracking platform we are developing at BCF, we are ensuring full transparency and accountability in donations made through the BCF system, with direct reach to end beneficiaries.
We want to thank TRON for their generous donation to the work we are doing at BCF toward the achievement of the UN SDGs, and we welcome other organizations and blockchain experts who are interested in working with us to build this blockchain for social good platform, said Helen Hai, Head of the Blockchain Charity Foundation.”
Blockchain technology offers transparency and accountability, so charities can easily address issues of clarity between donors, recipients, and volunteers using this technology.