During the Binance Conference in Singapore, company CEO Changpeng Zhao announced the Lunch for Children program. Carried out by the Binance Charity Foundation, users of the exchange platform will be able to donate Binance Coin (BNB) to help feed children within several African nations.

Other projects have been similarly funded by Binance Charity using the blockchain to ensure a level of transparency not offered by traditional charities and philanthropies.

This also serves as an example of an emerging phenomenon called “crypto social responsibility,” in which crypto companies and individuals using cryptocurrencies accept responsibility for global social welfare.

Lunch for Children (And Beyond)

The Lunch for Children program is expected to begin sometime in Feb 2019 in Kampala, Uganda. The Jolly Mercy Learning Center has been announced as the first pilot school.

Donations have already been received by Zcoin, Mars Blockchain Group, Dream Building Service Association (DBSA), and others. As of Jan 22, enough funds have been raised to provide food to over 2,000 children for one month. Binance Charity aims to help at least 50,000 African children.

If successful, the program will likely spread throughout Uganda and to other nations in Africa. Several that have been announced as possible locations include Kenya, Tanzania, Ethiopia, and Nigeria. Furthermore, Binance Charity is also currently funding two other projects:

The Restore Bududa Program to help those affected by the landslide in the Bududa District of Uganda in Oct 2018 The 2018 L-Istrina Campaign to raise money for the Malta Community Chest Fund Foundation, which helps disadvantaged and ill children and their families within Malta

Crypto Social Responsibility

Corporate social responsibility is a theory that corporations have a responsibility to increase the social welfare of the communities in which they exist. Similarly, individual social responsibility holds that individual persons have a responsibility to contribute to the social good around them. Crypto social responsibility incorporates both of these with blockchain technology.

In essence, crypto social responsibility holds that crypto companies and individuals involved the blockchain industry should responsibly use cryptocurrencies and assets to provide for the benefit of all.

Can the Blockchain Save the World?

Offering increased means of transparency, security, and means to provide aid, blockchain technology can revolutionize the way in which charities and philanthropies function. For example, Binance Charity leverages the blockchain to ensure transparency in its Lunch for Children program.

First, users are able to donate to the program using the Binance exchange platform. Donations begin at one BNB. These donations are then sent to the wallets of a child’s legal guardian. The guardian then sends these funds to another wallet which will be used to purchase and supply food to the children at a number of possible schools within Africa.

All of this information is recorded on the Binance blockchain, where it cannot be altered. Any attempted act of embezzlement, misappropriation, theft, or other misuses of funds can be traced and tracked.

[bctt tweet=”Using the blockchain allows charities to provide greater security and transparency to donors, donees, and everyone else involved.” username=”beincrypto”]

Conclusion

When crypto companies like Binance use blockchain technology to aid those in need, they engage in an act of crypto social responsibility. So too does every individual who donates to the programs being funded by Binance Charity.

Both companies and individuals can use crypto in ways that benefit themselves and the greater human community. This is the beauty of blockchain technology.

It may very well change the world for the better.

Do you think cryptocurrency and blockchain technology can help to change the world for the better? Let us know your thoughts in the comments below!