Quantstamp Joins the #CryptoAgainstCOVID Alliance

Quantstamp Announcements
April 6, 2020

Quantstamp is proud to announce that we are contributing to the Binance Charity Project, Crypto Against COVID. As the spread of COVID-19 continues, cases have been confirmed in more than 175 countries. The World Health Organization (WHO) stated that as of March 23, 2020, the number of confirmed COVID-19 cases worldwide exceeded 300,000. 

This campaign follows efforts already rolled out by Binance in January throughout mainland China. Allocating $1.4 million through its “Binance for Wuhan” project, this initiative supplied various equipment—gloves, masks, sterilizers, hand sanitizer, testing kits, protective suits and more—to over 300 hospitals and medical teams throughout China.

Donations made through this global campaign will be used to purchase medical equipment and supplies that will be distributed throughout countries that are currently most heavily impacted by the virus: Italy, Germany, Spain, South Korea, Iran, Turkey, the United States and the United Kingdom.

How the process will work:

How the Binance Chain Increases Transparency

Often, only a small percentage of donations made to charities are spent on the cause itself, with most being used to pay for administrative costs and overhead. In order to increase transparency, the Binance Charity Foundation is using the Binance Chain and will publish all transactions made with the donated funds.

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