Binance has announced that they are donating $1 million of Binance Coins (BNB) to help victims of the Australian bushfires, in addition to crowdfunding another $1 million of donations on the Binance Charity platform.
The 2019-2020 Australian bushfire season has been one of the most intense in history, with over 26 million acres burned so far and 28 fatalities. There have been apocalyptic scenes of entire towns being forced to flee to the beach in order to escape the fire, and heavy smoke has spread as far as New Zealand, which is over 2,000 miles away. Over 5,900 buildings have been destroyed at this point, and the fires are still raging.
This is not the first time that crypto has been used as a donation mechanism. The Binance Charity platform raises money for multiple causes, and has so far raised $4.4 million.
Additionally, after Hurricane Dorian struck the Bahamas this summer, Tether Limited donated $1 million to relief efforts. Also, Tron (TRX) Founder Justin Sun donated $1 million to climate change advocate Greta Thunberg. Further, UNICEF launched a global cryptocurrency fund in October in order to raise funds for impoverished children.
Overall, cryptocurrency is increasingly being used for charitable purposes. Cryptocurrency can be sent anywhere in the world instantly and securely, making it an ideal way to rapidly provide charitable funds wherever there is a humanitarian disaster.