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Binance Charity Forms Alliance With 46 Companies to Unveil a Stablecoin for the Alleviation of Period Poverty
Press Release – July 3, 2019 – Binance Charity Foundation (BCF), the blockchain-enabled charity platform and official philanthropic arm of the global cryptocurrency exchange Binance, today announced the first strategic alliance of 47 companies and organizations as founding partners to introduce ‘Pink Care Token’ (PCAT). In the frame of period poverty campaign, the alliance aims to empower 1 million women in underdeveloped countries for overall feminine health and wellbeing improvement. The 1st batch of Pink Care Token and sanitary pads delivery is scheduled for in the mid-July in Uganda, graced by the minister-level politicians from Ugandan Government .
“Pink Care Token is the first social-impact stablecoin issued on Binance Chain. A part of our mission is to promote cryptocurrency adoption, and I think charity is one of the most efficient ways to bring cryptocurrency value to more people,” said Changpeng Zhao (CZ) – CEO and co-founder Binance.
The ‘Pink Care Token’ is a redemption-only token issued on Binance Chain that is pegged to one year’s supply of sanitary pads instead of a fiat currency. By introducing the new value-stable token, the alliance members hope to bring the original value of money to crypto space. Otherwise, the token will alleviate period poverty with 100% transparency, zero corruption, minimal transaction costs, and utilize technology innovation.
“By forming the first alliance between cryptocurrency and traditional industry, we aim to deploy alliance’s strength to shape a brighter future of all human beings, especially the bottom billions,” said Helen Hai – Head of Binance Charity Foundation. “After all, it all comes down to human and values. We hope the Pink Care Token Alliance will combine technology with the best parts of human nature – creativity, empathy, and stewardship, which lift humanity into a shared sense of dignity”.
In Uganda, where Binance Charity started the “Binance for Children” initiative to support school kids get access to food via our Lunch for Children programme, scholastic materials, and electricity from our solar charity initiative. Since February, our colleagues working on the ground identified the pressing needs among the girls. Many young women in Uganda cannot afford sanitary pads, but use cassava leaves during their periods, leading to infections, general uncleanliness, and many other serious issues related to their life.
“For women living in cities, life seems to be not that tough; using sanitary pads during period was a routine for every girl around, and we are proud of being a woman. However, for many African girls, period is stigma while sanitary pads are luxury. Let’s make period poverty becomes a past by Pink Care Token”, “ said Heyi – Co founder and CMO of Binance
While many foundations, NGOs and corporations have worked on this social problem over the years, there is tremendous inefficiency and lack of transparency in traditional ways of charitable giving that causes loss of trust and high intermediary costs. Blockchain-based philanthropy can therefore offer a new perspective and effective solutions to these issues.
Binance Charity Foundation and the members of this strategic alliance, will sponsor feminine hygiene products in form of PCAT for young women in underdeveloped world who are not able to afford it. Binance Uganda Exchange will provide the redemption service for the Pink Care Token, and people can redeem the token for the local currency.
“I am thrilled to be part of this initiative. As a financial services provider devoted to enable cryptocurrencies flow freely across the world, Babel Finance firmly believes that cryptocurrency will make the world a better place. Pink Care Token is unique which demonstrates the advantages of blockchain technology while improving the living conditions of women. We hope this innovative charitable giving can spread globally and benefit billions of people,” said Flex Yang, Founder and CEO of Babel Finance.
Justin Sun, Founder of Tron also expresses his wishes to this initiative: “There are many ways that cryptocurrency will make the world a better place. Being able to help those in need using cryptocurrency could accentuate the importance of it, thanks to Binance Charity for giving us the chance to be part of it, let’s make the world a better place.”
How can I be a part of the Pink Care Token Initiative?
So far, there have been 47 entities and companies from Crypto and mainstream joined this alliance. We call for more partners to join this alliance to end period poverty and to support a million young women getting access to period products, to build up the ecosystem liberating value transfer, and to empower the bottom billions with the help of cryptocurrency.
Please donate your part at:
47 Pink Care Token Alliance Members:
Binance, TRON, BabelFinance, Ripple, Alice, Arrington XRP Capital, Bloq, AELF, EMURGO, Blockseed Ventures, Contentos, Mithril, Machi X, Primitive Ventures, Earth Protocol, Paxful, IoTeX, Sora Ventures, Tally Capital, Pundi X, Matic Network, Harmony, BLOC Platform, Quantstamp, Celer, StormX, GXChain, Orichal, Enjin, QuarkChain, Ultrain, Zcoin, IOST, CryptoSavannah, Period.org, Fetch.AI, KIZUNA, Certik, V Systems, AID:Tech, Fintech4Good, Nebulas, VeChain, 8 Decimal Capital, DENT, Blockshine Technology, Binance Charity.
The Pink Care Token Issuance Records: