Binance Charity uses the blockchain to deliver 200K masks to 11 NY hospitals

Binance Charity, the non-profit arm of Binance exchange has been on the frontline when it comes to providing aid to countries ravaged by COVID-19. Stepping up its efforts to provide more relief, the organization delivered thousands of personal protective equipment (PPE) to New York, which has been severely affected by the pandemic. A press release unveiled this news on June 17, noting that the non-profit leveraged its Crypto Against COVID fundraising campaign to raise the relief funds.

In the press release, Binance Charity noted that non-profits rarely offer donors clear insight into the journey of their funds. To help change this tradition, Binance Charity uses its underlying blockchain technology to encrypt each donation on an immutable ledger. The ledger then generates a transaction ID that donors can use to track every step of the donation route.

Per the publication, the organization developed a social impact cryptocurrency known as PPE to help provide relief to New York. This token is the first of its kind, and it saw Binance Charity verify the successful, tamperproof delivery of 200,000 N95 masks to 11 hospitals in New York and its surroundings. The token also served as compensation for the couriers.

100% transparency

Combined with the aforementioned transaction IDs, the PPE token ensured 100% transparency on the public ledger. The information included on the public ledger included issuance, distribution, redemption, purchase of the N95 masks, the details of the flights transporting the masks, and photos of healthcare workers receiving the medical equipment.

Commenting on the philanthropic work of Binance Charity, Daniel Baier, the operations manager at Huntington Hospital said,

“I want to extend a thank you for the generous donation of masks provided to Huntington Hospital. This donation represents the support that keeps us going strong as we continue our battle against COVID-19.”

Apart from the Huntington Hospital, other benefiting hospitals were 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, and Walter Reed Army Medical Center.

A noble crypto course

To date, Binance Charity has reportedly been able to raise more than £3.2 million through its Crypto Against COVID campaign. By exercising transparency while utilizing the donated funds, the organization has aided in the delivery of more than 1 million PPE materials. Some of the countries that received these donations include China, India, Italy, Japan, South Africa, Spain, and the US.

Explaining why it was relevant to launch a blockchain-powered fundraising campaign, Helen Hai, the 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 a platform that will continue to help long after COVID. Blockchain is a powerful antidote to a problem that has long plagued the philanthropy sector: distributed ledgers have the speed, scalability, and immutability 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 trustworthy approach to remedying the spread of the pandemic.”

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