Binance signs MoU with Ugandan NGO

(source: Unsplash/Ninno Jack JR)

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Malta-based digital asset exchange’s Binance Charity Signs Memorandum Of Understanding (MOU) with Ugandan non-governmental organisation (NGO) Safe Future to Aid 100,000 Children, according to a Binance announcement.

The signing ceremony marks the exponential growth of the Binance for Children initiative, according to the company. In fact, the first pilot project called “Binance Lunch for Children”, kicked off at Jolly Mercy Learning Center at Kampala, Uganda, in February 2019,

By the end of May 2019, Binance for Children had reached 3,990 children, and that number is constantly increasing, given the increase in children going back to school thanks to this simple act of providing food, according to the press release.

Gume Fredrick Ngobi, Minister of State for Cooperatives in Uganda, said that the project would contribute to the government’s efforts towards the achievement of the Millenium Development Goal (MDG) 2 indicator on quality education, having achieved the national MDG 2 indicator on access to education after introducing universal education at both primary and secondary levels.

“The adoption of blockchain and crypto in charity is not as easy as many people might think,” said Athena Yu, Executive Director of Binance Blockchain Charity Foundation (BCF), during the signing ceremony, “We are inspired by the Ugandan government, which is willing to work closely with us to explore various possibilities in blockchain-enabled solutions for children’s education and health. Together, we will enhance this new way of charitable giving with more transparency and sustainability.”

BCF is honoured to work with the government of Uganda in using blockchain and cryptocurrency to provide better transparency and efficiency throughout the traditional charity processes. The organisation is grateful for the government’s acceptance and enthusiasm for blockchain-powered philanthropy.

BCF Executive Director Athena Yu and the Safe Future CEO Mula Anthony said that the Binance for Children project will be responsible for project implementation and will ensure the delivery of meals, solar panels, sanitary pads, school supplies, LED screens, and other items to 160 schools in Uganda.