A non-profit organization of Binance crypto exchange is now available across 10 more schools in Uganda. Binance Charity Foundation recently revealed that they have expanded lunch for Children program to support 3747 students and staff among 10 schools located in Jinja and Kampala in Uganda.
Binance Charity Foundation or BCF is a philanthropic arm of Binance exchange launched earlier this year. However, they began a charity program with a pilot project in February at Jolly Mercy Learning Centre in Kampala, Uganda to serve free meals to over 200 students and school staff. Following the pilot project, the platform has announced its expansion to 10 more schools on April 04, 2019.
Consequently, the beneficiary of this program will be receiving an account with Trust Wallet wherein BCF donating $0.030 BNB for their lunch for a full year. Accumulate donation value for 10 additional schools comes around US$236,061. Such donated funds will then be sent to vetted supplier’s crypto wallet who regularly deliver lunch to these schools every day. Upon receiving donated funds, suppliers can visit Binance Uganda (fiat-to crypto exchange branch by Binance located in Uganda) and then, he can redeem BNB tokens to Uganda Shillings. Nevertheless, the announcement reads;
The donation for these 10 new schools, totaling in US$236,061, was made possible by Binance and BCF’s sponsors, as well as TRON, IOST, and a Binance VIP customer, with the distribution of delivery, separated within 3 tranches for the current timeline.
Do you think the initiative should run across the whole world by other market players as well? What’s your stake on blockchain-based charity program initiated by Binance exchange? Let us know your thoughts.
Disclaimer The views, opinions, positions or strategies expressed by the authors and those providing comments are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of CoinGape. Do your market research before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.
Tabassum is a full-time content writer at Coingape. Her passion lies in writing and delivering apt information to users. Currently, she does not hold any form of cryptocurrencies. Follow her on Twitter at @Tabassumnaiz and reach out to her at Tabassum[at]coingape.com