Binance charity arm lends helping hand to Japan flood victims, says report

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December 21, 2018 by
Binance charity arm lends helping hand to Japan flood victims, says report

Binance, a leading cryptocurrency exchange is at the forefront of a humanitarian drive with the launch of the Blockchain Charity Foundation (BCF). A released report by the charity arm has shed light on the aid provided to take the sufferers of Japan to take them out from their dismal condition. By 15th October, Binance has collected a relief fund amounting almost 56,700,000 JPY (63.03 BTC or 169.85 ETH) that was directed towards serving Hiroshima, Okayama and Ehime based victims.

This time, Japan is hit by the worst flood since last 36 years when in 1982, the nation drowned due to the Nagasaki flooding that snatched the lives of more than 300 citizens. The exchange’s charity unit also contacted agencies of the federal government, different NGOs to push up the act of assistance to the flood victims.

Open Up Japan on Binance’s aid

In this initiative to uphold humanity, the charitable organisation received cooperation and assistance from Open Up Japan, BIC Electronic camera, Kure City office, Peace Winds Japan and Momotarou Finances. “It had not been difficult to obtain our account established, and once everything prepared Binance contacted us to wage the contribution. It was carried out immediately, and also after verifying the transfer we had the ability to transform it to Japanese yen. Receiving this contribution left us with a deep perception of cryptocurrency: both its growing impact on our world as well as its possibility,” commented Open Up Japan on Binance’s humanitarian initiative.

As per the data from Tool blog site, earlier on 8th July the exchange raised a request to support its aid scheme. Within a week, the exchange received crypto donations worth almost $ 410,000. The total donation added up to  which amounts to $ 1,410,000 comprising ERC20 tokens and others. The blog informs that the first donation was made to use with Miss Bitcoin Mai.

The trading platform has transferred to her crypto account 61.09 BTC, which is equivalent to 50 million JPY at that time. In the second round, the digital assets were directly used. Binance transacted 69.85 ETH, which is comparable to 5.3 million JPY back then, to the new crypto account of Open Japan.

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