Several blockchain and cryptocurrency companies have pledged to help the victims of the new coronavirus which is currently affecting the Chinese province of Wuhan and has since spread across the globe, Cointelegraph reports on January 27th.
Most notably, the CEO of Binance, Changpeng Zhao stated Binance donated an undisclosed amount, saying “For #Wuhan, not realistic to do crypto to end beneficiaries. Binance pledged 10m RMB ($1.5m USD) to help #coronavirus victims. We didn’t make any announcements. But [Binance Charity Foundation] BCF/Binance team has been busy for the last few days. Still need help to arrange logistics locally.”
Blockchain and cryptocurrencies have already found their place in providing ease of access for charity donations. Several systems across the globe are already in place and taking advantage of blockchain technology to deliver relief funds. However, CZ is probably right that the direct crypto donations aren't a viable solution for the current Wuhan crisis, especially considering the stand China has taken on the use of cryptocurrencies. Keeping that in mind, now is the time for more Chinese-based exchanges or exchange operators to kick in a help alleviate the humanitarian efforts.