Binance Charity donates $20,000 to Beirut blast victims

Binance Charity

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Binance Charity has announced that it would be donating $20,000 to the victims of the August 4 blast in Beirut, Lebanon’s capital in a bid to soften the blow of the disaster.

According to the announcement, Binance’s charity arm would launch a Beirut Relief Fund campaign, that would provide aid to Beirut as well as the whole of Lebanon in this time of massive upheaval.

Notably, the Binance Charity would donate $10,000 indirectly towards this campaign and requires the blockchain community to also donate towards the Beirut Relief Fund. According to the charity arm, “For every amount of crypto you donate to this campaign, we will donate an equal amount, until we reach a total of $10,000.”

Helen Hai, Head of Binance Charity noted the Beirut Relief Fund campaign was launched to assist the country currently battling a seismic disaster.

Other crypto relief campaign

It’s also worth noting that several bitcoiners has team up to raise digital currency relief funds to be sent to Lebanon capital, in a bid to cushion the blow of the explosion.

The initiative started by a group of Lebanese nationals outside the country, particularly in Europe setup the campaign dubbed ‘digital currency disaster relief for Beirut blast fund,’ and are currently seeking assistance and canvassing for donations on Instagram.

The website’s tagline: “Embracing Cryptocurrency services to bypass Lebanon’s corrupted financial system,” would distribute donated funds to needy in the Middle East country.

Macron should leverage on blockchain to send Beirut blast aids

French President Emmanuel Macron who visited the scene of the explosion and promised to assist the country back to its feet has been urged by Israeli blockchain firm Orbs to employ blockchain technology to send aid to Beirut blast victims.

According to the blockchain firm in an open letter to Macron, France need to tap blockchain transparency and accountability while sending donations and particularly financial aid to its former colony.

It’s also worth noting that other Beirut blast relief operations are currently underway to help residents affected by the explosion get back to their feet. Notable, on the list, include the Lebanese Red Cross who is going out if it’s way to help patients.

Lebanon’s President Michel Aoun said the government would provide up to $66 million in aid available to support recovery operations. Also, several countries have pledged over $300 million in aid to the country.

Notably, the fund generated was not to be given to the Lebanese government, but rather to the people through the United Nations, as well as other international organizations, and non-governmental organizations.

Binance Charity also stated that the relief campaign would maintain 100 percent transparency in its conducts. Noting all donations received from the blockchain community to campaign will be reflected on its website.

Lebanon stance on digital currency

Lebanon earlier took taking a harsh stance against digital currency, the government banned the use of cryptocurrency in the Lebanese market, after tagging it as a commodity whose prices rise and fall without any justification.

However, Riad Salamé, the governor of Lebanon’s central bank, Banque Du Liban (BDL), has hinted that the country was taking a look at creating a state-backed digital currency.

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Muhaimin Olowoporoku

Muhaimin loves writing on crypto news aside from being a crypto enthusiast. He has a knack for analysing issues and updating people on what's happening around the globe. He believes that blockchain and cryptocurrency are the most useful systems of mutual trust ever devised.

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