DELTA Summit, Malta’s blockchain conference held earlier this month, attracted more than 3,500 industry experts and government officials. At the conference, Changpeng Zhao, CEO of the cryptocurrency exchange Binance, spoke on the impact of blockchain technology for driving economic growth.
Highlighting Malta’s forward-thinking leadership, Zhao, stated, “This is a country where the leaders and the government understand blockchain technology.” He encouraged more companies to learn about and explore establishing in Malta, where Binance announced the launch of the country’s first fiat-to-crypto exchange earlier this year.
Malta is a country with regulators and government leaders who understand blockchain technology in depth. They understand the financial, business and technological impact for this technology and industry. Malta is also a great place to be based since the government leaders and regulators are very approachable, reasonable and want to have conversations with us to discuss what we need, Zhao told me.
In addition to being at the forefront of blockchain innovation, industry leaders in Malta have also made it clear that they are avid supporters of the blockchain for social good movement.
Following the final night of DELTA summit, founders and representatives from Binance, TRON and the Blockchain Charity Foundation (BCF; the recently launched charity division by Binance) attended a private reception hosted by her Excellency, President Marie-Louise Coleiro Preca of Malta. During the reception, TRON and BCF publicly shared their vision of blockchain technology for social good. The companies highlighted how the technology can help resolve current pain points for charitable institutions.
TRON has just announced that it has pledged an initial donation of $3M to BCF. This is notable, as TRON is one of the largest decentralized networks and most advanced blockchain companies. TRON is uniquely positioned to lead the mass adoption of blockchain technology in the charity field, along with Binance.
I believe it is my responsibility to lead the movement in applying blockchain technology to improve people’s livelihoods around the world. I will dedicate the resources I have gained from co-governing the network to causes that will benefit and empower society. I hope my actions will inspire more people to tap into the great potential of blockchain technology to truly make a positive impact, said Justin Sun, Founder of TRON, CEO of TRON and BitTorrent.
Moreover, to accelerate the mobilization around charity fundraising within the blockchain industry, Binance recently announced it will donate 100% of listing fees to BCF.
Blockchain is mobilizing governments, NGOs and the private sector, to transform the charitable giving sector. With the donation tracking platform we are developing at BCF, we are ensuring full transparency and accountability in donations made through the BCF system, with direct reach to end beneficiaries. We want to thank TRON for their generous donation to the work we are doing at BCF toward the achievement of the UN SDGs, and we welcome other organizations and blockchain experts who are interested in working with us to build this blockchain for social good platform, said Helen Hai, Head of the Blockchain Charity Foundation.
Understanding Blockchain Technology For Social Good
Blockchain technology offers transparency and traceability, but also the capability to run multiple complex programs simultaneously. These characteristics can directly be addressed to solve challenges faced by charities today, like donation transparency, traceability, and actual impact. Blockchain technology is also a key part in bringing together various entities, like donors, volunteers, recipients, and organizations of various sizes, into one cohesive ecosystem.
It was during World Cancer Day this year that Malta demonstrated the actual impact blockchain technology has on charities. The Malta Community Chest Fund Foundation (MCCFF) received a 40k EUR donation from CryptoCharity, a blockchain-powered solution designed to facilitate the process of donations. The solution is built on the STASIS platform, a financial infrastructure for launching digital assets reserved by traditional financial instruments with the regular state audit.
All proceeds collected during the campaign went towards the Serenity Garden Project at the Oncology Centre in Malta, aimed to increase the well-being and quality of life for the patients there.
“I envisage that the gardens will provide a soothing distraction, and help the patients achieve a sense of control; encourage family and friends to be with their loved ones in a pleasant, social environment; and offer opportunities for movement and light exercise. The proposed gardens will thus form an integral part of the Oncology Centre,” said her Excellency, President Marie-Louise Coleiro Preca of Malta.
Moreover, a charity with digital assets on a blockchain network makes it possible to donate in a fast, secure and transparent manner. Philanthropists who donated also received charitable tokens for every 1-euro equivalent of a digital asset donation.
Too often the cryptocurrency and blockchain community speaks of what may someday be possible with this new technology. We believe it is time to show what is possible now and to use our knowledge and expertise towards changing lives for the better. We are on a mission to bridge the gap between decentralized finance and the people – and we are delighted to be able to contribute to this wonderful initiative and help usher philanthropy into a new era, said Gregory Klumov, CEO and Founder of STASIS.