Blockchain Charity Foundation Unveils Stablecoin For Alleviation Of Period Poverty

Blockchain, News | July 4, 2019 By:

Binance Charity Foundation (BCF), the blockchain-enabled charity platform and official philanthropic arm of crypto exchange Binance, has announced a new initiative that aims to improve feminine health and wellbeing.

In a press release, BCF announced an alliance of 47 companies and organizations to launch a stablecoin, called ‘Pink Care Token’ (PCAT), aimed at alleviating period poverty. The Pink Care Token, a redemption-only token issued on Binance Chain, will enable suppliers to distribute sanitary pads to millions of women in a more accessible, accountable, and transparent manner. The first delivery of PCAT and sanitary pads will take place in mid-July in Uganda.

“Pink Care Token is the first social-impact stablecoin issued on Binance Chain,” said Binance said CEO and Co-founder Changpeng Zhao. “A part of our mission is to promote the adoption of cryptocurrencies, and I think charity is one of the most effective ways to demonstrate their value and make them available to the people in need.”

The alliance members, which include industry players such as Ripple, Arrington XRP Capital, TRON and IOST, hope to bring the original value of money to the crypto space. They believe that the PCAT token will alleviate period poverty with 100% transparency, zero corruption, and minimal transaction costs.

“By forming the first alliance between cryptocurrency and traditional industry, we aim to deploy the alliance’s strength to shape a brighter future for all human beings, especially the bottom billions,” said Helen Hai, Head of Binance Charity Foundation. “After all, it all comes down to human and values. We hope the Pink Care Token Alliance will combine technology with the best parts of human nature – creativity, empathy, and stewardship, which lift humanity into a shared sense of dignity.”

TRON founder Justin Sun said that there are many ways that cryptocurrency will make the world a better place.

“Being able to help those in need using cryptocurrency could accentuate the importance of it, and I would like to thank Binance Charity for giving us the chance to be a part of it, Let’s make the world a better place,” Sun said.