The past few years have been very tough for many people around the world. As the Covid-19 spread in every corner of the world, many people lost their jobs, were stuck in their homes, and had to find other ways for income.
Recently, Binance, a cryptocurrency exchange, and Cooperative for Assistance and Relief Everywhere (CARE), a global NGO focused on porverty eradication, have announced that they have partnered up to come up with 2 pilot programs that are aimed at delivering crypto-based vouchers to the members of the most affected community by the Covid-19 pandemic in Kenya.
In the joint statement, it can be read that the companies will distribute crypto vouchers to Village Savings and Loans Associations, which are dealing with the impact of the pandemic in Kenya. It is not only Kenya where the vouchers are being distributed.
The company has recently announced that they are planning to distribute vouchers for vulnerable women in Ecuador as well, with the help of Celo, which is a blockchain company focusing on mobile phones in emerging markets such as Ecuador.
The statement of CARE shows that the vouchers will be facilitated in partnership with Binance, through the Blockchain Charity Foundation. In addition, CARE also said that it is partnering with the University of California, Lab for inclusive Fintech, and many other companies that will assist the design and will provide help to come up with other effective options to deliver aid in developing countries.
The pilot program
While announcing the program, CARE talked about some of the objectives of the pilot. According to the statement, it includes assessing tech readiness of VSLAs and vendors, the pilot will also support the focus groups to better understand the importance of the technology and the barriers of trust and information associated with them, as well as the opportunities that stablecoins have to offer.
CARE previously had also worked with other crypto exchanges, Ripple, and launched a Crypto Fund for Humanitarian Aid, a fund that works towards raising as much as $10 million before the end of 2022.
The main aim of the fund is to help those in need the most. CARE has been very active with its programs over the past few years, specifically after the spread of the Covid-19 pandemic. In 2020, the NGO managed to reach as many as 90 million people in over 100 countries around the world with its humanitarian relief and poverty-fighting programs.
There are numerous cryptocurrencies accepted by the NGO, including Bitcoin, Ethereum, LiteCoin, Gemini Dollar, ox, UMA, BUSD, and many others.
The importance of crypto
Such programs are another example of how important cryptocurrencies can be in numerous different sectors. The steps taken by the company are another great example of how people of different walks can use cryptocurrencies for helping others.
Over the past few years, the crypto market has become particularly popular around the world. It is used by many people around the world, including in Africa, for investment. When it comes to the crypto trading market, Binance is one of the leading companies, which offers numerous services to traders.
Binance exchange is using by millions of crypto traders around the world. Thanks to Binance and other crypto exchanges like it, crypto is becoming easier to access for everyone. One very popular feature of this crypto exchange is the Binance bot. Binance bot trading is very popular among investors, as it offers traders the ability to analyze the price movements in the market in a very short time.
On the other hand, without using trading robots, it could take investors hours to interpret the market data and make informed decisions. Apart from market analysis, this bot can be used for actual trading purposes as well.
Established in 2017, Binance is one of the largest cryptocurrency exchanges in the market providing traders numerous cryptocurrencies. In terms of the trading volume, Binance is currently the largest crypto exchange.
Due to the further development of crypto exchanges, trading is becoming more accessible for everyone around the world. As of now, it takes just a few minutes for crypto investors to become part of the market. All you need to do is to download the application, open an account, deposit funds, and start buying and selling cryptocurrencies.
CARE & its programs
CARE is one of the major international humanitarian non-governmental organizations that has been very actively working for decades to provide help to those in need. The company is known for delivering long-term international projects that are aimed at bettering socio-economic situations around the world. Established in 1945, CARE is known for being one of the largest and oldest humanitarian aid organizations fighting against global poverty.
Its current program in Kenya is thought to be very important for the country, especially because of the ongoing Covid-19 pandemic. The country suffered a lot over the past two years and with many of the industries closed, many people lost their jobs.
The steps taken by CARE are aimed at empowering women of Kenya and helping them get back to their daily lives.