Even as blockchain and crypto-related companies grow in global dominance, there is the increasing social responsibility attached to them. Social responsibility is considered a requirement for many firms above a certain level and as blockchain and crypto firms join the ranks, they become more active in social causes. This includes Justin Sun giving a $1 million donation to Greta Thunberg’s climate change campaign recently as well as crypto firms stepping up in times of natural disasters and crisis.
One of the latest of these is Binance who has announced that they will be donating $1 million worth of BNB tokens to the Australian bushfires relief efforts through the Binance Charity Foundation (BCF).
These donations are to be made via a new initiative called Australia Bushfire Donations that was set up to help raise funds for the wildfires across the country. Binance will be donating $1 million of their native token and any more funds raised within that time will go towards this relief effort.
It should be noted that because the donations are being made in form of digital tokens and are a blockchain-based initiative, the information will be publicly available for public verification and this is a growing trend within the crypto community as it in shows an unprecedented level of transparency and prevents any possible embezzling of the tokens.
“It is painful to see the bushfires burning across Australia as well as the devastating effects on the ecology and local community. We want to help this urgent crisis. Donating for Australia Bushfires charity program is the most direct and effective approach to make an impact, and we are also calling for the whole crypto community to join us in supporting Australia,” said Binance CEO Changpeng Zhao.
In Australia, the wildfires have ravaged many parts of the southeast and have left over 20 people dead and 2,000 homes destroyed since last October. This situation began getting even more media attention in early 2020 with many across social media raising awareness, donating funds and so on.