Binance has decided to intervene in support of the communities in southern Taiwan severely affected by the recent floods. Launching a support initiative with a total value of 1.2 million dollars in BNB (Binance Coin).
According to data collected by Binance Charity, the operation has already reached thousands of beneficiaries. Industry analysts observe that the effectiveness of these donations in cryptocurrencies is increasing the potential for intervention in local emergencies.
Leading this operation was Binance Charity, which has planned a direct and transparent distribution of aid to thousands of beneficiaries involved in the extreme events that have affected the region.
How those eligible for Binance assistance in Taiwan are selected: requirements and steps
The support program includes the delivery of BNB, Binance’s native cryptocurrency, to residents of the most affected provinces, including Changhua, Yunlin, Chiayi, Tainan, and Kaohsiung.
To ensure speed and security in distribution, Binance has introduced a verification procedure called POA (Proof of Address). This consists of documentary confirmation of the residence address.
What is POA verification? In detail, users must upload an official document that certifies their residence — such as a utility bill, a bank statement, or an administrative communication — to be included in the list of beneficiaries.
- Proven residence in one of the affected provinces
- Conclusion of the POA verification on Binance by the established date
- Possession of an active Binance account
Users who had completed the verification process before August 8, 2024 will be included in the first round of assistance. It is therefore essential to promptly update personal information directly through the platform.
Those who meet the requirements will receive 80 dollars in BNB. These will be automatically credited to the Binance wallet if the verification takes place by August 8, 2024.
The distribution of aid is structured in different phases, with the aim of reaching as many affected people as possible.
- First tranche: 80 dollars in BNB, reserved for those who complete the POA verification by the initial deadline.
- Second tranche: 30 dollars in BNB available for an additional 15,000 beneficiaries who complete the verification between August 8 and 20, 2024; payments will begin on August 14.
It must be said that transparency is guaranteed: only users with regular POA verification will actually receive the aid. The funds will be credited directly to the Binance wallet, simplifying the steps as much as possible and reducing waiting times.
According to an official report updated in June 2024, over 95% of the donations disbursed by Binance Charity in Asia were received within 48 hours of verification.
This is not the first experience for Binance in the field of digital humanitarian assistance.
FAQ: which emergencies does Binance respond to with its donation program?
In recent years, Binance Charity has developed a network of international interventions to help people involved in natural disasters and emergencies, distributing funds in cryptocurrency immediately.
- 2023: distribution of 100 dollars in BNB to Turkish users affected by the earthquake
- Over 1.5 million dollars sent to Myanmar and Thailand in response to natural disasters
- Active projects also in Kenya, Sudan, and other African and Asian nations
An interesting https://twitter.com/cz%5Fbinance/status/1944764736391852138?ref%5Fsrc=twsrc%5Etfw reveals that during 2024 there were over 69,360 people benefiting from Binance Charity donations in Africa and Asia, thus consolidating the organization’s reputation as a reliable partner for digital solidarity.
The initiatives of Binance Charity are aimed at natural disasters such as floods, earthquakes, and floods affecting vulnerable populations.
The intervention mechanism remains constant: a formal check of the identity and residence of the users involved, followed by the direct sending of BNB through the Binance platform, in order to offer tangible and easily traceable support.
To facilitate access to aid, Binance accepts various types of documents for proof of address, including:
- Recent bills addressed to the user
- Bank statements highlighting the address
- Official administrative letters or communications
It is important that the data is complete and readable, to avoid delays or exclusions. The documentation will be carefully examined by the Binance team, which, by verifying each request, ensures that the funds are truly intended for the affected people.
Despite the ongoing distribution of gifts in BNB to support users involved in emergencies, Binance is still engaged in several legal disputes concerning previous leadership, including the former CEO Changpeng Zhao.
The latter was indeed sentenced to four months of detention for violations related to money laundering, after reaching a plea agreement with U.S. authorities in 2023.
The increasingly central role of blockchain in international solidarity
Although initially the company had contested the accusations, the episode led to a process of governance review.
In this context, however, there has been no slowdown in Binance’s humanitarian commitment, which continues without interruption to support international support projects.
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Even in the presence of such critical issues, Binance has reaffirmed its determination to support populations threatened by extraordinary events, focusing on the effectiveness of digital and transparent donations as a modern form of assistance.
Thanks to the distribution of BNB funds in response to the flood emergency in Taiwan, Binance Charity strengthens its position as a protagonist in the evolution of digital solidarity.
The streamlined procedures, rapid transfer of funds, and “on-chain” verifications are profoundly changing the ways in which the global community intervenes in crises, redefining the standards of humanitarian aid.
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The challenge remains to effectively combine technological innovation and a concrete social impact, demonstrating that cryptocurrencies are not just an investment tool, but can become an effective means to offer real support to those in need.
According to a report by the World Economic Forum in 2024, the use of blockchain in social sectors is growing by 40% year over year, highlighting a consolidated trend in the digital solidarity sector.