- Binance Charity survey shows 32% of donors prefer blockchain-enabled contributions.
- Binance Charity has donated $10 million in cryptocurrency for Ukraine relief.
- Binance Charity’s “Crypto Against COVID” initiative donated $5.7 million globally.
Binance Charity, the philanthropic subsidiary of leading global blockchain platform Binance, has today unveiled the findings of a survey conducted in recognition of International Day of Charity. The poll, which sought to gauge the evolving dynamics of charitable donations, relied on feedback from 1126 respondents, comprising both Binance users and the wider public. The insights from this survey will inform Binance Charity’s forthcoming initiatives and align more closely with public attitudes towards philanthropy.
Significant Insights Gleaned from the Survey
While traditional donation methods such as cash, checks, and credit cards still hold a significant 43% preference among donors, recent survey data indicates an increasing inclination towards blockchain-enabled charitable contributions. A noteworthy 32% of participants preferred donating via cryptocurrencies, underscoring the escalating relevance of digital assets in the philanthropic landscape.
The survey underscores the robust groundwork already established for charity through cryptocurrency. Although a significant proportion of participants (71%) have yet to utilize cryptocurrencies for charitable donations, a noteworthy 29% have, underscoring the escalating trend of cryptocurrencies in the philanthropic sector.
Respondents highlighted three primary advantages of blockchain technology that contribute to the rising popularity of cryptocurrencies. A significant 37% praised its ability to foster transparency, while 32% lauded its efficiency and effectiveness. Additionally, 28% recognized the unique potential of blockchain to enhance accountability through its ability to provide verifiable traceability from donor to recipient.
A study by Binance Charity unveiled the key factors influencing individuals’ decisions when choosing a charitable organization to support.
- Transparency and accountability: This standard is deemed non-negotiable by 27% of the participants, underscoring the significance of ethical practices and transparent transactions in securing investors’ trust in the crypto industry.
- The underlying reason: Approximately 26% of participants are motivated to engage due to the distinctive objective of the charity, showcasing the power of a clearly defined target.
- Effectiveness: An additional 18% of survey participants prioritize the measurable impact a charitable organization has made, indicating that concrete results are significant in this age of data-driven decisions.
The analysis of the sectors that mirror the public’s choice of a charitable cause, as per the survey, unveils the following preferences:
- According to 22% of survey participants, immediate aid during critical periods is paramount in the humanitarian sector.
- Education: 20% of survey participants indicate a mutual interest in propelling societal progress through educational initiatives.
- Health: Almost on par with education, 19% of survey participants voiced a general concern for wellness.
The research also examines the community’s engagement in philanthropic initiatives. 51% of participants indicate they contribute when their time and crypto assets permit. Remarkably, 20% of respondents identify as committed crypto-philanthropists who proactively seek opportunities to make a substantial impact.
The Impact of Binance Charity on Global Harmony
The increasing adoption of cryptocurrencies in philanthropic activities is substantiated by a study conducted by Binance Charity, providing valuable insights into the dynamics of charitable donations. The findings significantly influence the ongoing global impact-driven initiatives of Binance Charity. Leveraging blockchain technology, Binance Charity persistently enhances philanthropic efforts, revolutionizing everything from immediate relief efforts to educational initiatives and healthcare programs.
Binance, a leading player in the crypto industry, has pioneered the Binance Refugee Card, an innovative solution designed to facilitate swift, cost-effective, and secure cash transfers to those in dire need. In demonstrating its commitment to humanitarian causes, Binance has also allocated $10 million in cryptocurrency to aid relief efforts in Ukraine following recent disasters. Furthermore, the company has extended its philanthropic reach by donating $5 million to earthquake victims in Turkey.
Binance Charity’s educational initiatives have seen participation from over 57,000 alumni, thanks to the funding provided by Binance Academy and partnerships with esteemed academic and professional entities such as Women in Tech and Utiva. The program, which includes tech and blockchain scholarships, primarily targets women to bridge the existing gender disparity in the industry.
Furthermore, Binance Charity’s “Crypto Against COVID” initiative has significantly impacted, donating $5.7 million in digital currency towards global healthcare efforts. This contribution has facilitated the distribution of 500,000 vaccines and more than 2 million personal protective equipment worldwide.
Binance Charity is pioneering the use of cryptocurrency in philanthropy by facilitating non-profit organizations worldwide to accept payments through Binance Pay or any DeFi wallet. This move is setting a new benchmark for charitable donations in the cryptocurrency sector.
Peruse the 2022 Annual Report for a comprehensive understanding of how Binance Charity is leveraging Web3 technology to catalyze positive change in the world.
