The cryptocurrency community has joined the world to offer humanitarian assistance to victims of the Japanese floods. Cryptocurrency entities including Binance exchange and Verge have rallied support through crowdfunding efforts.
Binance donate $1 million for West Japan Flood Victims
One of the world’s leading cryptocurrency exchange company Binance is donating $1 million to the victims in West Japan affected by heavy rains. Japan which was hit by one of the worst torrential downpour in over 36 years, which has killed at least 155 people after torrential rain unleashed floods and landslides across the western parts of the country.
In a blog post Binance published on Monday 9, the cryptocurrency exchange company said that it is donating an amount equivalent to $1 million in the form of either BNB, BTC, or JPY and appeals for other cryptocurrency establishments and partners to join the relief initiative. Binance also urged users who’d like to make donations to the cause to send ETH or ERC-20 tokens to a Binance donation address provided in the blog post. “Send ETH or ERC20 tokens you want to donate directly to the Binance donation address 0xA73d9021f67931563fDfe3E8f66261086319a1FC.”
Verge Begins Crowdfunding For Japanese Flood Victims
Verge (XVG) has responded to this appeal through their twitter handle is currently requesting for funds to help the victims. As part of its own contributions, Verge is seeking donations from its cryptocurrency enthusiast to help the victims of west Japans disaster. In a tweet on Sunday, 8 Jul 2018, the company said that “A call to unite all communities as a global #crypto family. Let’s come forward to support @japan. Verge Currency will donate all funds to @binance’s effort to support this disaster.” The cryptocurrency company also disclosed in a further tweet that donating 1,000,000 XVG to the Verge community.
[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]All donations should be sent to this address XVG: D7KV88Zg2XNHUtX1DYhMsoHRz1RG9xGSmM BTC: 1GpPoX5kcPHLsGdw6rL6Cc8azVYhy2JcmK[/perfectpullquote]
Although prior to the downpour, Japan issued weather warnings early but due to the large population of the country, almost every bit of usable land is built on which includes some floodplains and the mostly mountainous country, leaving it prone to such disasters. A recent evacuation order was sent out on Tuesday as a part of Hiroshima river was blocked by debris overflowed its banks, which has affected 23,000 people.
Future Relief Initiative planned
In a recent Twitter post concerning the relieve initiative, Binance CEO and founder Changpeng Zhao disclosed that his company is working on building a more “systematic mechanism” for future relief donation initiatives. Zhao also said that the exact logistics for the plan would be figured out soon.
Given the short time, he said “we had to keep this very simple for this time. We will build something more systematic later. Our team is contacting local authorities to figure out final delivery logistics too.”
Solomon Sunny is the market reporter for Smartereum, one of the global leaders in Ethereum, blockchain and currency news. He produces technical price updates on digital currencies and writes recent developments about blockchain.