COVID-19 Hotspots all Over the World Benefit From Millions of Dollars in Blockchain-Backed Donations
NEW YORK--(BUSINESS WIRE)--After providing aid to hospitals in China, Italy, and Spain, among other countries ravaged by COVID-19, Binance Charity, the blockchain-powered non-profit transforming charitable giving, has furthered its relief efforts providing thousands of personal protective equipment (PPE) materials to one of the regions most affected by coronavirus in the world: New York City. Binance Charity’s Crypto Against COVID fundraising campaign marks the first charitable campaign to achieve 100 percent donation-transparent, safeguarded delivery.
When making a charitable contribution, rarely is the donor offered clear insight into the journey of their funds. Binance Charity aims to revolutionize traditional giving, providing a transparent donation process made possible by its underlying blockchain technology. Behind the scenes, every donation is encrypted on an immutable public ledger that generates a transaction ID. Donors can use this ID to track every step of the donation route.
Unique to its relief efforts in New York, Binance Charity established a social impact cryptocurrency, dubbed the PPE Token. The first of its kind, the PPE Token verified the successful, tamper-proof delivery of 200,000 N95 masks to 11 benefiting hospitals in New York City and the surrounding region, while also serving as a form of compensation for the couriers. Alongside the transaction IDs, the PPE Token administers 100 percent transparency on the public ledger, showcasing every detail from issuance and distribution, to redemption, including: N95 mask purchase orders; details of the flights transporting the materials; and photo proof of healthcare workers receiving the medical equipment.
Helen Hai, Head of Binance Charity, said: “Binance is proud to help those on the front lines of the fight against the global pandemic, through direct contributions and a platform that will continue to help long after COVID. Blockchain is a powerful antidote to a problem that has long plagued the philanthropy sector: distributed ledgers have the speed, scalability, and immutability to alleviate donor concerns, ultimately maximizing charitable impact. At Binance Charity, our mission is to amplify the use of this cutting-edge technology for social good, and with COVID-19’s unprecedented arrival and startling spread, we have provided a trustworthy approach to remedying the spread of the pandemic.”
Daniel Baier, Operations Manager, Huntington Hospital said: “I want to extend a thank you for the generous donation of masks provided to Huntington Hospital. This donation represents the support that keeps us going strong as we continue our battle against COVID-19.”
New York has suffered more from the pandemic than any other U.S. state, tallying a magnitude of 383,944 confirmed cases, exceeding that of several countries. The epicenter of the state’s coronavirus outbreak has been New York City. Binance Charity selected 11 of New York’s most affected hospitals to receive much-needed N95 medical masks. Benefiting hospitals include: NY Presbyterian Hospital, NYU Langone, Mount Sinai Hospital, Lenox Hill Hospital, Montefiore Medical Center, Mount Sinai Beth Israel, Maimonides Medical Center, Staten Island University Hospital, Stony Brook Hospital, Huntington Hospital, and Walter Reed Army Medical Center.
Binance Charity is the philanthropic arm of the world’s largest cryptocurrency exchange, Binance. To date, more than $4 million have been donated to Binance Charity’s Crypto Against COVID campaign. This campaign has aided in the delivery of over one million PPE materials to healthcare facilities all over the world that are heavily affected by the virus outbreak, including China, India, Italy, Japan, South Africa, Spain, Turkey, and the United States. To learn more about Binance Charity’s campaign and its PPE Token watch this video. To donate, visit www.binance.charity .