Binance, which is one of the largest cryptocurrency exchanges in the world has recently announced that they will be partnering with as many as 44 crypto companies across the globe to provide better support to poverty-ridden nations across the globe.
The exchange has mentioned that the partnership will include notorious brands such as VeChain, Ripple and various other entities.
The project will take the shape of a charity foundation aiming at improving the lives of women in developing countries. It will launch in July 2019 in Uganda and provide sanitary pads and the Pink Care Token for better economic development and healthcare in the country.
One important note is that the token will be a stablecoin, therefore Binance is cutting off any and all volatility from the crypto market and is focusing solely on the provision of desperately needed funds and resources to these demographics.
Although it is being considered as nothing but a PR move from Binance, we need to remember that it’s better to do it and take credit for it, rather than not do anything at all.
By providing the vast array of resources that Binance and the 44 other companies possess, not only will it help to develop these countries but introduce the blockchain in a more positive light as well as promote it to the hecklers that have been criticizing the technology for nearly a decade now.