Binance has vowed to give $1 million to help victims of the massive floods that have hit West Japan.
In an official post, Binance said: “To help out the victims in West Japan that were affected by the heavy rains on 7/7/2018, Binance is donating $1,000,000 USD and calling for our crypto friends and partners to join us in the relief initiative.”
Japan has been hit by torrential rainfall that has led to damaging floods and landslides. According to a report on BBC, over 60 people have perished and about a dozen people have been reported missing. Japanese Prime Minister, Shinzo Abe, has already ordered the evacuation of two million people in the said locales.
Binance has sent out an appeal to users who’d like to donate to the cause to send ETH or ERC-20 tokens to the wallet mentioned in their official post.
“Send ETH or ERC20 tokens you want to donate directly to the Binance donation address 0xA73d9021f67931563fDfe3E8f66261086319a1FC”
Binance explained that all outgoing transactions would only be used for charity.
Changpeng Zhao, who is the founder and CEO of Binance, sent out a tweet urging the crypto community to make contributions for this fund. He added that the exact logistics would be figured out and his team is getting in touch with local figures to work out a way regarding the final delivery logistics.
“Given the short time, we had to keep this very simple for this time. We will build something more systematic later.” Zhao stated.
He also added that projects that have donated to the cause would be receiving “bonus points for future listing requests” and that they might consider the donation towards the listing fees.
The Ethereum wallet so far has received an estimated $90,000 worth of ETH and $1.05 Million worth of ERC-20 tokens as of press time.
Cryptocurrencies have been long used as a medium for donations for charitable causes due to the transparency of transactions on the public ledger.
The Pineapple Fund, which is operated by an anonymous donor, has backed over 60 charities, ranging from clean water initiatives to open source projects, by putting in $55 million dollars worth of Bitcoin.
