Binance Donates Php 3.5 Million Worth of Medical Supplies to PH Hospitals, Paid With Cryptocurrency
Binance Charity wrote on each box of medical supplies, “Kapit tayo, kabayan! Kasama mo kami, at magtutulungan tayo para maghilom ang ating bayan.
Updated on 11:05 to fix the total amount of supplies.
Binance Charity has donated Php 3.5 million worth of medical protective equipment to various hospitals in the Philippines. This is in part of the foundation’s global Crypto Against COVID Campaign, driven by cryptocurrency donations.
(You are reading a newsletter with a tentative title, written by Mike who writes about Bitcoin, Crypto, and Blockchain on BitPinas.com)
Every week we read from news outlets updates on the COVID-19 situation in the Philippines, as well as news of the growing list of companies, non-government organizations, organizations, and projects donating to the country’s fight against the pandemic. One such company is Binance, through Binance Charity, which donated medical supplies, including surgical masks, alcohol, face shields, protective shields, etc to 18 medical and government institutions in the country.
As proof that cryptocurrency can work in these situations, Binance Charity paid the medical suppliers in Bitcoin, BNB, BUSD, and other cryptocurrencies. These suppliers, in turn, converted these cryptocurrencies into Philippine peso through Rebittance Inc., a subsidiary of SCI Ventures, and a virtual currency exchange company licensed by the Bangko Sentral ng Pilipinas (BSP) to convert crypto to Php and vice versa.
Miguel Cuneta, Co-founder of SCI Ventures said the Binance Filipino community team initiated the efforts and they both worked immediately “to coordinate all the suppliers, get the best pricing possible, and ensure that each item had the proper certification and quality.”
“We will also personally distribute the items to make sure it goes to the right people. On behalf of all the beneficiaries, I want to thank Binance Charity foundation for the generous donation and both Binance Filipino team and the SCI team for making this possible.” - Miguel Cuneta, SCI Ventures
When the medical supplies are secured, Binance Charity volunteers from the Binance Filipino community and representatives from Rebittance proceeded to coordinate the delivery to hospitals such as the Philippine General Hospital and Quirino Memorial Medical Center, as well as government institutions such as the health worker division of the Philippine National Police.
Binance Charity also shipped the supplies to Davao City, Cagayan de Oro City, Alaminos City in Pangasinan, Isulan City in Sultan Kudarat, and more.
The entire list of beneficiaries:
Western Hospital Alaminos City (Alaminos City, Pangasinan)
Cagayan de Oro Medical Center (Cagayan de Oro City)
J.R. Borja General Hospital (Cagayan de Oro City)
Rural Health Unit of Candelaria (Candelaria, Quezon)
Philippine General Hospital (City of Manila)
Quirino Memorial Medical Center (City of Manila)
Ilang Davao Barangay Office (Davao City)
Villaroman Memorial Hospital (Ilagan City, Isabela)
Sultan Kudarat Provincial Hospital (Isulan City, Sultan Kudarat)
Lucena Task Force Health Workers (Lucena City)
Office of The Councilor Pasay (Pasay City)
Pasay City General Hospital (Pasay City)
Co Medical-Surgical Clinic (Pasig City)
Pasig City Gen. Hospital (Pasig City)
Pasig Emergency Unit (Pasig City)
PNP Health Workers (Quezon City)
Sta. Rosa Hospital and Medical Center (Sta. Rosa, Laguna)
Rabe Maternity Hospital Medical Center (Taguig City)
Helen Hai of Binance Charity said:
“The most important element of human life is to show compassion and help others as we can, without the limitation or restriction of borders. Blockchain technology enables this in greater capacities than ever before and Binance Charity wishes to bring this to the masses,” - Helen Hai, Head of Binance Charity.
Binance Charity wrote on each box of medical supplies, “Kapit tayo, kabayan! Kasama mo kami, at magtutulungan tayo para maghilom ang ating bayan. #WeHealAsOne #CryptoAgainstCOVID.” (Stay strong. We’re with you, and we’ll help each other in healing the nation.)
The total amount of supplies for distribution are listed below:
KN95 Masks (3,100 pcs)
1-gallon isopropyl alcohol bottles (250 gallons)
PPE suits (2,500 pcs)
Gloves (1,200 boxes)
Faceshields (3,500 pcs)
3-ply surgical mask packs (1,250 boxes)
Protective goggles (2,300 pcs)
Because this is a cryptocurrency transaction, the flow of donation is recorded and shown on the blockchain. Binance Charity is advocating for the transformation of philanthropy through the use of blockchain for more transparency and accountability.
Binance Charity already raised about $4 million in cryptocurrency donations for the Crypto Against COVID campaign, with medical supplies delivered to at aleast 17 countries and regions around the world, including the U.S., Italy, Brazil, Turkey, and more. The entire donation and allocation records can be found here. Binance Charity also donated to those affected by the Taal volcano eruption early this year.