COVID-19 Hotspots all Over the World Benefit From Millions of Dollars in Blockchain-Backed Donations.
After providing much needed aid to hospitals in China, Italy, South Africa, 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 from start to finish. Binance Charity aims to revolutionize traditional giving in providing a fully transparent and accountable donation process made possible by its underlying blockchain technology. Behind the scenes, every donation made to Binance Charity is encrypted on an immutable public ledger that generates a transaction ID. Donors can then use this ID to track every step of the donation route.
Unique to its Crypto Against COVID relief efforts in New York, Binance Charity established a social impact cryptocurrency, dubbed the PPE Token. The first of its kind, the PPE Token was used to verify 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 of the medical supplies, including: N95 mask manufacturer and 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 through the creation of a platform that will continue to help long after COVID has been conquered. Blockchain technology is a powerful antidote to a problem that has long plagued the philanthropy sector: distributed ledgers today have the speed, scalability, and above all immutability and transparency 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 transparent and trustworthy approach to remedying the spread of the pandemic.”
Daniel Baier, Manager of Hospital Operations, Huntington Hospital said: “I wanted to extend a thank you for the generous donation of masks provided to Huntington Hospital by Binance. This donation represents the type of support that keeps us going strong as we continue our battle against the COVID-19 pandemic.“
New York has suffered more from the COVID-19 pandemic than any other U.S. state, tallying a magnitude of 383,944 confirmed cases and 24,579 deaths exceeding that of several countries around the world. The epicenter of the state’s coronavirus outbreak has been New York City. As a result, local healthcare facilities are inundated with patients well beyond their normal capacity and extreme demands on medical gear, leaving two-thirds of frontline medical professionals experiencing a shortage of critical equipment.
Binance Charity selected 11 of New York’s most affected hospitals to each receive approximately 20,000 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 bitcoin and cryptocurrency exchange, Binance. To date, more than $4 million USD equivalent in cryptocurrencies have been donated to Binance Charity’s Crypto Against COVID campaign. This campaign has aided in the delivery of more than one million PPE materials to healthcare facilities all over the world that are heavily affected by the virus outbreak and in desperate need of equipment, including China, India, Italy, Japan, South Africa, Spain, Turkey, and the United States. Binance Charity will continue to support healthcare professionals in New York and beyond, providing PPE as the virus rages on. To learn more about Binance Charity’s campaign and its PPE Token watch this video. To donate, visit www.binance.charity .