The Binance Charity Foundation (BCF) has recently introduced its blockchain-enabled donation system for its Lunch for Children program in Uganda, which will provide two meals a day to students and staff of Jolly Mercy Learning Centre in Kampala until end-2019.
The official opening was attended by more than 500 students, parents, sponsors, and school partners. The blockchain-powered donation pilot was launched following an announcement made by BCF during the Binance Blockchain Week in Singapore earlier this year. BCF, the philanthropic arm of the world’s largest cryptocurrency exchange Binance, hopes to provide two meals a day to at least 200 children and staff members at the center until the end of 2019.
The move aims to demonstrate the ability of blockchain technology to address issues related to hunger and access to primary education, as part of Binance’s wider campaign to benefit one million students in the developing world and other African nations like Rwanda, Kenya, and Ethiopia.
The campaign is made possible under Binance’s partnership with the Dream Building Service Association (DBSA) and its sponsor Zcoin. Zcoin and its major investors – Zcoin founder and CEO Poramin Insom and early investor in Bitcoin-related startups Roger Ver – have pledged a US$24,000 worth in cryptocurrency for Lunch for Children.
Zcoin COO Reuben Yap remarked that the blockchain-enabled donation pilot will have an expansive impact on the children and their families. Knowing that the school will provide two meals a day, it eliminates the needs for many children, especially orphans, to skip school in order to support themselves. Yap hopes that the contribution will help ease some of these burdens, allowing the children to build a stronger educational portfolio.
Jolly Mercy Learning Centre is currently looking after 200 children. With the lunch program underway, the number of students is expected to surge to 340.
According to Helen Hai, Goodwill Ambassador of the UN Industrial Development Organization (UNIDO) and head of the BCF:
For the massive unbanked population in countries like Uganda, underserved communities participating in this charity program grants them with a digital wallet as an access point to cryptocurrency so that the economic circulation within the community is available and further benefited from the initial introduction.
BCF is a not-for-profit organization dedicated to the advancement of blockchain-enabled philanthropy towards achieving global sustainable development. It aims to transform philanthropy by developing the world’s first decentralized charity foundation to build a future where blockchain technology can be used to address all forms of poverty and inequality and advance inclusive sustainable development.
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