“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,” said Xu.
The BCF head Helen Hai also stated that the innovation has the potential to bring permanent solutions to the world’s social problems while filling funding gaps present in the UN’s Sustainable Development Goals. The BCF reportedly announced the launch of its decentralized, charity system that tracks donations from donors to beneficiaries, eliminating fraud and misappropriation of funds in the charity industry.
Although both parties failed to detail how DLT will be employed in solving the global social crisis, the credibility of the Binance team indicates that at least a few legitimate measures will be pursued.