Binance, the world’s largest 24 Hour Volume exchange (with fees), continues to consolidateas a serious and highly reputable business, and the government of Malta is an essential ally in meeting these expectations.
Yesterday, the local newspaper Malta Today announced that the Government of Malta and Binance had signed a memorandum of understanding (MOU) that would allow the first legal operations of Binance’s new Blockchain Charity Foundation.
The signing of the MOU took place Wednesday at San Anton Palace. The agreement has quite broad objectives, including, according to the media, the following:
- Advocate about blockchain technology and its application to address issues of sustainability in a humanitarian and environmental setting to empower especially youth and children.
- Improve public awareness of the comprehensive usage of blockchain and its impact on society and economy.
- Jointly establish a workforce targeting local and regional issues by implementing pilot projects and other initiatives with a blockchain technology component.
It is important to note that this would be an example of inter-institutional collaboration in which a government shares common objectives with an initiative based on the use of cryptocurrency.
Michael Bianchi, a trustee of The President’s Trust, commented on his excitement after the signing of the memorandum, mentioning the impact such an initiative could have in the future:
“We are very happy to be starting a collaboration with Blockchain Charity Foundation enabling the use of blockchain technology to provide a social and economic impact. This is a world first and will have a major impact on how social issues and charity work is done in future years,”
Binance has had a positive relationship with the Maltese government. Its decision to move its headquarters to the island, as well as to promote it as one of the most crypto-friendly countries in the world, has allowed Binance to function healthily while Malta is positioned as the country that all crypto startups want to reach.
President Marie Louise Coleiro Preca was invited to chair the Foundation’s Senior Advisory Board. In declarations on the occasion of the agreement, she commented on her confidence that blockchain technologies can help to better develop and control social policies, especially within the framework of the Sustainable Development Goals established in the United Nations Agenda 2030:
“I am truly pleased that we have come to the signing of this Memorandum of Understanding with the Blockchain Charity Foundation. This foundation, the first of its kind in the world, will develop humanitarian projects to effectively address the United Nations Agenda 2030 and its Sustainable Development Goals. Through this agreement, The President’s Trust and the Blockchain Charity Foundation will develop socio-economic projects in Malta, to address social challenges. Moreover, Blockchain technology will be used to increase efficiency, transparency and to measure the social impact of the respective projects,”
Helen Hai on behalf of the Binance team commented:
“I firmly believe that the Foundation and The President’s Trust will jointly embark on an inspirational journey to empower vulnerable communities with the support of blockchain technology. We are determined to turn our vision into action,”