Crypto Exchange Binance, Maltese President’s Trust Partner To Create Blockchain Charity Foundation

Announcements, Blockchain | July 26, 2018 By:

Binance, one of the world’s largest crypto exchanges by market capitalization, has teamed with the the Maltese President’s Trust to establish a blockchain-enabled charity foundation.

Called Binance Blockchain Charity Foundation, the charity will use blockchain to “empower vulnerable communities and enhance transparency in charitable work.” The foundation and the Maltese President’s Trust will work together to improve public awareness of the comprehensive usage of blockchain and its impact on society and economy. They will also establish a work force targeting local and regional issues by implementing pilot projects and other initiatives with a blockchain technology component.

The memorandum of understanding (MOU) was signed with Helen Hai, a goodwill ambassador of the United Nations Industrial Development Organization, Maltese President Coleiro Preca, and Michael Bianchi, a trustee of The President’s Trust.

“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,” said Bianchi. “This is a world first and will have a major impact on how social issues and charity work is done in future years.”

Hai, who was appointed to head the foundation, said that the foundation will aim to address the most pressing social issues globally to contribute towards reaching the UN Agenda 2030 and its sustainable development goals.

“I firmly believe that the foundation and The President’s Trust will jointly embark on an inspirational journey to empower vulnerable communities with the support of blockchain technology,” Hai said. “We are determined to turn our vision into action.”

President Coleiro Preca, together with other eminent heads of state, will strategically advise the management and give direction to the new charity foundation.

“I am truly pleased that we have come to the signing of this Memorandum of Understanding with the Blockchain Charity Foundation,” Preca said. “This foundation, the first of its kind in the world, will develop humanitarian projects to effectively address the United Nations Agenda 2030 and its Sustainable Development Goals. Through this agreement, The President’s Trust and the Blockchain Charity Foundation will develop socio-economic projects in Malta, to address social challenges. Moreover, Blockchain technology will be used to increase efficiency, transparency and to measure the social impact of the respective projects.”