The head of the charity Fund Binance: We can help a billion poorest people
Exchange Binance, which has recently been actively engaged in the development of ecosystems on the blockchain, announced the creation of its own charitable Fund — the Blockchain Charity Foundation. It was headed by Helen hi, the influential businesswoman and founder of the charity initiative “Made in Africa”, a goodwill Ambassador for the industrialization of the continent.
Hai told Forbes about the plans of the Fund before the meeting of the UN Assembly, which will be held this week in new York.
Forbes: Why Binance to do charity work?
Hi Helen: Today, charities are having hard times and desperately need new solutions. According to the March report of the charities aid Foundation (CAF), 80% of organizations are focused on new technologies to improve communication and online solutions.
The most important thing that donors usually want their donations were in the front line and not wasted on minor issues or routine work in the office.
The blockchain technology is a game changer as it can significantly reduce or even eliminate transaction costs with donations. Keeping record of financial transactions in a distributed registry, which is extremely difficult to change, it prevents fraud and theft and giving the opportunity to contribute with all kinds of new assets, not only traditional currencies.
Moreover, a decentralized, global and anonymous nature of the blockchain allows to protect the integrity of the data.
The blockchain represents a new flexible environment, which can really help in reducing deficit financing purposes of the United Nations in the field of sustainable development is very fast in innovative ways. Binance wants to be at the forefront of this, and to ensure the transition to the industrial economic development in the global capital markets. Thus, it is not so much that cryptocurrencies and charity go hand in hand, but in the fact that cryptocurrency can provide a catalyst for economic integration in the world markets.
Forbes: What are the specific goals of this project?
Hi Helen: to Build two platforms:
1) Blockchain— centre for social good, associated with UN, WEF, WPL and other organizations. We position ourselves on the world stage and work with world leaders to advocate for new, more effective policies that will enable the cryptocurrency market to increase social orientation.
2) Decentralized charity platform, the structure of which includes three aspects:
transparency of donations, meaning that 100% of contributions should be sent to the final recipients;
the creation of the innovation infrastructure of social Finance;
direct involvement in those projects, to help to whom they are aimed.
Forbes: What motivates you to such activity?
Hi Helen: I have spent my life working in this field. I grew up in the North— East of China in the late 1970s, I was fortunate enough to be at the forefront of the industrial revolution. I chose your way: be a good daughter and to climb the corporate ladder. And I did, becoming the youngest female partner of an insurance broker Jardine Lloyd Thompson, before joining Zurich Financial Services as chief actuary in China.
But something was missing. I took a career break and began to understand what was for me the gains from the industrial boom in China. I realized that about creating jobs, which in turn dispersed economy. I was already familiar with Prime Minister of Ethiopia and decided to help the country in developing industrial business parks. The project was very successful.
My goal is to allow one billion of the poorest people in the world. Earlier this year, I had lunch with CZ (Chanpen Zhao, CEO Binance), a longtime family friend. He said he wants to use technology to create social benefits. We both had the same upbringing, we are both representatives of the new generation in Asia that received bonuses from the new economic transformation.
In may we went to Africa to meet with the President of Uganda. The people there are not technically savvy, and I was shocked that in less than 30 minutes, they understood and supported that can make the blockchain. To confirm the seriousness of the intentions, I went to the UN and we agreed to hold in October the first forum on the blockchain, which in the future will be on an ongoing basis.
The willingness of the crypto community for this amazing. As soon as I learned that we will have support and funding (Binance kindly donated $10 million to launch the first projects, the support offered and other industry giants), I realized that we will be able to help this one billion people, focusing on Africa as a pilot project.
Forbes: What are your next steps?
Hi Helen: We have developed the structure of the organization, we already have a white paper, senior Advisory Board and technical Advisory Council. We know that technology moves fast, and want to make sure I interact with organizations that have the same zeal that we do.
At the meeting of the UN General Assembly will be held the first meeting of our Board of Directors under the chairmanship of the President of Malta. We want to help launch humanitarian projects in accordance with the Objectives of sustainable development for the period up to 2030.
Malta — the birthplace of the Blockchain Charity Foundation, and we are impressed with how positive think about this new technology.
In October we organize a round table in Geneva in the framework of the session “the Blockchain for sustainable development” at the world investment forum, UNCTAD. There we will show the results of studies that are currently underway in Africa, and outlined future plans that include raising $100 million over the next 12 months. I believe that we will receive this amount given the already promised support.
Forbes: What would you like to achieve?
Hi Helen: My ultimate goal is to provide a billion of the poorest people in the world the opportunity to create jobs and to support these people through charitable giving. I would like to share a personal story.
When I visited Ethiopia in 2011, then stayed in the only five-star hotel. After lunch I was walking in the garden near the hotel, and I was shocked by what I saw Africans (but the hotel is popular with Asians, Americans and Europeans). And it reminded me of a story from my childhood.
When I was a little girl, my father drove me to Beijing. We went to a five star hotel but the price of $100 per night was too high — we couldn’t afford it. I still remember the beautiful hall and the people inside the hotel. This moment changed me. At first I thought that I will never be able to afford something like that. Must be in 2011 in Ethiopia, too, there were many girls outside the hotel that could only dream about how to visit it.
I hope that with the new charitable Foundation, we will be able to make a huge step towards the empowerment of these people. It’s not just my idea; this is typical of a whole generation, brought up in Asia in the 70s and 80s.