Binance Charity Foundation inks MOU with Ugandan NGO

Binance Charity Foundation (BCF), the charity arm of crypto exchange Binance, has signed a Memorandum of Understanding (MoU) with Safe Future, a non-governmental organisation (NGO) in Uganda focused on improving the country’s quality of education.

“The adoption of blockchain and crypto in charity is not as easy as many people might think,” says Athena Yu, Executive Director of BCF. “We are inspired by the Ugandan government, which is willing to work closely with us to explore various possibilities in blockchain-enabled solutions for children’s education and health. Together, we will enhance this new way of charitable giving with more transparency and sustainability.”

CEO of Safe Future, Mula Anthony, says that the Binance for Children Special Impact Education Project Uganda will “provide a brighter future for 100,000 children”, with new supplies going to schools, such as solar panels, sanitary pads, school supplies, LED screens, as well as breakfast and lunch for students.

New portal

Last year, BCF introduced a blockchain-based donation tracking platform.

Binance CEO CZ unveiled the solution during the Blockchains for Sustainable Development session at the UNCTAD World Investment Forum.

Binance is covering all operational fees on the new portal, ensuring that 100% of donations will go directly to end-beneficiaries . CZ also shared the results of the venture’s donation drive for flooding victims in West Japan. It raised $410,000 in crypto donations seven days after CZ called for support via Twitter, with all donations tracked on the blockchain.