Binance co-founder Changpeng “CZ” Zhao provides 500 BNB (Bnb) Each in Thailand and Myanmar following a 7.7 magnitude earthquake that caused severe damage to buildings and widespread flooding.
Zhao plans to distribute funds through Binance and Binance Thailand if a third-party onchain donation platform is not located to distribute disaster relief funds.
“I hope everything is safe in Thailand,” the founder of Binance wrote on a March 28 x Post Before declaring contributions to both countries affected by the earthquake.
According to Guardian.
Source: Cz
Related: Thailand Regulator approved USDT, USDC Stablecoins
Disaster struck Myanmar and Thailand
The earthquake struck on March 28 at about 1:20 at a local time. The earthquake center is approximately 10 miles from the Mandalay-the second largest city in Myanmar.
Deaths in both countries are expected to rise as relief efforts continue, with 732 individuals reported injured as a result of the earthquake.
Junta chief Minang Min Aung Hlaing called on any country who was willing to help with disaster relief efforts to provide any help it could.
Crypto donations boost help in times of crisis
Cross-border efficiency, low transaction costs, and near the instant time of settlement of cryptocurrencies produce digital assets that are an ideal medium for disaster relief funds.
Following a 7.8 magnitude earthquake affecting Turkey and Syria in February 2023, Philanthropist Haluk Levent began Collecting Donations Crypto Disaster.
Giving Block, a company working with nonprofit organizations to facilitate crypto donations, also use crypto in Raise funds for victims of the Maui Wildfires in 2023 and managed to provide more than $ 1 million in relief efforts.
Most recently -only, in January, the giving block began Emergency relief fundraiser For those affected by the wildfires of California in Los Angeles and the surrounding areas.
At the time of this writing, the organization raised more than $ 1 million for the California Wildfire Relief Fund.
Magazine: Crypto changes how humanitarian agencies deliver help and service
