Blockchain Charity Foundation (BCF) and the United Nations Development Programme (UNDP) today announced a partnership to support the application of blockchain technology for social good. BCF’s contribution of $1 million USD to UNDP was announced during the 73rd UN General Assembly, at a side session co-hosted by BCF, Finance Center for South-South Cooperation (FCSSC) and the Women Political Leaders Global Forum (WPL).
“We firmly believe that blockchain technology will bring transformative solutions to social problems, and help bridge the UN Sustainable Development Goals funding gap in fast and innovative ways,” said Helen Hai, Head of Blockchain Charity Foundation. “Working with UNDP, our aim is to eradicate poverty and empower and bring prosperity to millions who are marginalized and living in poverty. We are honored to host this meeting today, and partner with UNDP to provide social impact financing and improve philanthropy with blockchain.”
Blockchain Charity Foundation (BCF) is a not-for-profit organization working toward the achievement of the UN 2030 Agenda and Sustainable Development Goals (SDGs) through the use of blockchain technology. BCF is initiated by Binance, a blockchain ecosystem and the largest cryptocurrency exchange by trading volume, and additionally supported by Tron, a blockchain platform for a decentralized entertainment ecosystem.
With the support of UNDP, BCF commits to further pursuing opportunities where blockchain technology can be utilized to provide innovative solutions to development challenges, especially in the Asia-Pacific region, where UNDP has already begun exploring blockchain initiatives. By working with the state of Haryana to build a blockchain-based land registry, UNDP has seen firsthand the key benefits of blockchain technology – such as an immutable history of transactional records – and with added support from BCF, UNDP can further scale such solutions and facilitate knowledge exchange across countries.
During the symposium ‘Blockchain for Social Good: Utilizing Blockchain to Aid Economic Development,’ BCF also unveiled its decentralized charity platform, showcasing how each donation can be tracked every step of the way from donor to end beneficiaries. A whitepaper on blockchain for inclusive growth was also discussed with experts at the session, facilitated and led by the Dalberg Group. The whitepaper will be one of the knowledge products to be further developed under the partnership.
BCF also announced during the event the additions of Zhang Zhiping, Executive President of Finance Centre for South-South Cooperation (FCSSC), and Simon O’Connell, Executive Director of Mercy Corps Europe, to BCF’s Senior Advisory Board, which is chaired by President of Malta Marie-Louise Coleiro Preca.
The FCSSC is a non-profit, non-governmental organization, registered and founded in Hong Kong in 2014. Set under the framework of the UN SDGs, the platform mainly engages in promoting capacity cooperation, organizing high-level forums and training programs to share development experience, and providing financial service to support South-South Cooperation, utilizing the unique role of Hong Kong as an international financial center. FCSSC has been in Special Consultative Status with ECOSOC of the United Nations since 2017.
The BCF co-hosted UN side event assembled a high-level group of global leaders to debate how blockchain can contribute to economic transformation. Speakers included: Her Excellency Marie-Louise Coleiro Preca, President of Malta; Jorge Chediek, UNOSSC Director and Envoy of the Secretary-General on South-South Cooperation; Simon O’Connell, Executive Director of Mercy Corps Europe; Hiro Nishiguchi, Executive Managing Director of Japanese Innovation Network and Innovation Advisor to UNDP; and many other key policy-makers, NGOs, and blockchain and social impact leaders. The session also drew an audience from various UN missions, including members of the Senate from France, Congo, Uganda, South Sudan, Madagascar, Tunisia and other countries.