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The United Nations Development Programme (UNDP) has partnered with Blockchain Charity Foundation (BCF) to support the application of blockchain technology for social good.
Blockchain Charity Foundation (BCF), a not-for-profit organization, is initiated by leading crypto exchange Binance and also supported by Tron, a blockchain platform for a decentralized entertainment ecosystem. It is working towards the achievement of the UN 2030 Agenda and Sustainable Development Goals (SDGs) through the use of blockchain technology.
During the 73rd UN General Assembly, at a side session co-hosted by BCF, Finance Center for South-South Cooperation (FCSSC) and the Women Political Leaders Global Forum (WPL), BCF announced a contribution of $1 million to UNDP.
“Working with UNDP, our aim is to eradicate poverty and empower and bring prosperity to millions who are marginalized and living in poverty,” said Helen Hai, Head of Blockchain Charity Foundation. “We are honored to host this meeting today, and partner with UNDP to provide social impact financing and improve philanthropy with blockchain.”
Together with UNDP, BCF said that it will explore areas where blockchain technology can be utilized to provide innovative solutions to development challenges. It will particularly explore opportunities in the Asia-Pacific region, where UNDP has already begun exploring blockchain initiatives – UNDP has been working with the state of Haryana to build a blockchain-based land registry.
In addition, BCF unveiled its decentralized charity platform, which allows complete end-to-end traceability of each donation. BCF and UNDP will also develop a whitepaper on blockchain for inclusive growth.
“We believe that blockchain is a technology that can have a huge impact in the developing world in numerous ways,” said Haoliang Xu, Assistant Secretary General of the United Nations and Director of the Regional Bureau for Asia and Pacific at the UNDP. “We are excited to see the strong commitment from BCF to work with UNDP to explore how blockchain technology can help develop solutions to some of the most difficult development challenges in Asia and the Pacific.”
BCF also announced the additions of Zhang Zhiping, Executive President of Finance Centre for South-South Cooperation (FCSSC), and Simon O’Connell, Executive Director of Mercy Corps Europe, to BCF’s Senior Advisory Board, which is chaired by President of Malta Marie-Louise Coleiro Preca.
