The Binance-created platform, the Blockchain Charity Fund (BCF), has partnered with the United Nations Development Programme to combat poverty and other pressing issues.
According to AP News, the United Nations Development Programme (UNDP) and the Blockchain Charity Foundation (BCF) are collaborating to use the technology to help combat a range of social problems. Helen Hai, who is the head of the BCF, said:
We firmly believe that blockchain technology will bring transformative solutions to social problems, and help bridge the UN Sustainable Development Goals funding gap in fast and innovative ways. Working with UNDP, our aim is to eradicate poverty and empower and bring prosperity to millions who are marginalized and living in poverty. We are honored to host this meeting today, and partner with UNDP to provide social impact financing and improve philanthropy with blockchain.
The BCF has contributed $1 million to the UNDP to help fund this endeavor.
Haoliang Xu, who is the Assistant Secretary General of the UN and the Director of the Regional Bureau for Asia and Pacific at the UNDP, said:
We believe that blockchain is a technology that can have a huge impact in the developing world in numerous ways. We are excited to see the strong commitment from BCF to work with UNDP to explore how blockchain technology can help develop solutions to some of the most difficult development challenges in Asia and the Pacific.