To tackle the menace of coronavirus that has claimed over 21,000 lives worldwide, Binance Charity has said that it is aiming to raise $5 million in cryptocurrency to be distributed to countries worst affected by the pandemic.
Binance Charity, a blockchain-powered platform for advancing philanthropic projects, has entitled its new fundraising project as Crypto Against COVID.
The cryptocurrencies will be spent on buying medical supplies for countries such as Italy, Germany, Spain, the Republic of Korea, Iran, Turkey, US and the UK, the company said in a statement.
“The most important element of human life is to show compassion and help others as we can, without the limitation or restriction of borders. Blockchain technology enables this in greater capacities than ever before and Binance Charity wishes to bring this to the masses,” Helen Hai, head of Binance Charity, said.
In January, Binance had launched the “Binance for Wuhan” project and committed to a donation $1.4 million worth of medical supplies to support the battle against COVID-19 in China.
As on March 20, Binance Charity has delivered gloves, masks, sterilisers, disinfectant, hand sanitizers, testing kits, protective suits, goggles, oxygen concentrators and germicidal lamps to over 300 hospitals and medical teams in multiple provinces and cities, including Hubei, Sichuan, Guangxi and Shanghai.
Binance Charity said that the transactions will be published in full transparency through the blockchain-based donation portal.
The first case of coronavirus was reported from Wuhan city in China in December. The virus started to spread across the world and, so far, it has infected more than 4,70,000.
Updated Date: Mar 26, 2020 11:55:27 IST