Binance Charity Foundation (BCF), a non-profit foundation, recently announced that it is going to partner with IoTeX, a scalable blockchain solution that powers IoT. Under this partnership, BCF will use the IoTeX Network to host a delegate node. Stakers can vote for the node, and the staking rewards will directly go to charity.
Binance stated in the report,
“Blockchain is changing our world in many ways. While many associate blockchains with trading and money, we must remember that blockchain actually has the potential to help billions of unbanked, underserved, and less fortunate people around the world. The borderless nature of blockchain can give local causes international visibility and provide a transparent approach to ensure donations are utilized appropriately and efficiently.”
The money collected from the activity will go under the Binance Charity Efforts, such as:
- COVID-19 Relief
- Sanitary Pad Distribution in Uganda
- Australian Bushfire Rehabilitation
Binance clearly mentioned here that,
“100% of all node rewards will be donated directly to charity!”
It means no middle-platform will be taking any funds from this activity, and it will entirely be dedicated to the charitable cause. Apart from this, Binance is also involved in spreading blockchain awareness worldwide with its projects like Crypto Gurukul.