Horizon State has today announced a deal with Blockchain Charity Foundation (BCF) – the non-profit organisation initiated by leading cryptocurrency exchange Binance – that will allow its donations to be distributed in a verifiable and transparent manner.
The Australia- and New Zealand-based blockchain company – which is known for its token-based blockchain voting and decision-making platform – took to Twitter early on Friday to share the news, tweeting the following:
From day 1 our token mechanics have shown our commitment to good causes, with a percentage of all revenue going to charity. We're thrilled to have teamed up with #Binance charity @BinanceBCF to provide transparent distribution of funds! #blockchainforgood https://t.co/vxlBKnhOZz— Horizon State (@HorizonState) May 2, 2019
In essence, what this deal means for Horizon State is they are now able have their 5-10 per cent of revenue set aside for charitable purposes distributed in a transparent way. This is possible thanks to the blockchain-based distribution mechanism operated by the BCF, which allows donations to be tracked on-chain to ensure they end up with their intended recipient.
Speaking to Nugget’s News about his company’s decision to team up with Binance’s BCF, Horizon State co-founder and chief executive Nimo Naamani commended their “commitment to use crypto for good, where it makes a huge difference.”
“The causes they are collecting for are verified and genuine,” he went on to point out. If anyone were in a position to know this, it would be Naamani. Indeed, he later revealed to Nugget’s News that Horizon State “have sent a few of the charities that worked with [his company] last year across to BCF, so they could enjoy access to a larger pool of donors.”