CertiK joins Binance Charity in alliance to unveil a stablecoin for the alleviation of period poverty
July 3, 2019 — CertiK joined Binance Charity Foundation (BCF), the blockchain-enabled charity platform and official philanthropic arm of the global cryptocurrency exchange Binance, today announced the first strategic alliance of 47 companies and organizations as founding partners to introduce ‘Pink Care Token’ (PCAT). In the frame of the period poverty campaign, the alliance aims to empower 1 million women in developing countries to improve feminine health and wellbeing. The first delivery of Pink Care Token and sanitary pads is scheduled for mid-July in Uganda, graced by the minister-level politicians from Ugandan Government.
“Pink Care Token is the first social-impact stablecoin issued on Binance Chain. A part of our mission is to promote the adoption of cryptocurrencies, and I think charity is one of the most effective ways to demonstrate their value and make them available to the people in need,”
- said Changpeng Zhao (CZ) — CEO and Co-founder Binance.
The ‘Pink Care Token’ is a redemption-only token issued on Binance Chain that is pegged to one year’s supply of sanitary pads instead of a fiat currency. By introducing this innovative value-stable token, the alliance members hope to bring the original value of money to the crypto space. and the token will alleviate period poverty with 100% transparency, zero corruption, and minimal transaction costs.
CertiK was glad to do its part and join a consortium of 45 other leading blockchain companies.
“By forming the first alliance between cryptocurrency and traditional industry, we aim to deploy the alliance’s strength to shape a brighter future for all human beings, especially the bottom billions,’’
“After all, it all comes down to human and values. We hope the Pink Care Token Alliance will combine technology with the best parts of human nature — creativity, empathy, and stewardship, which lifts humanity into a shared sense of dignity.”
- said Helen Hai — Head of Binance Charity Foundation.
CertiK is proud to join the initiative, which reinforces Binance Charity’s existing work in Uganda where it started the “Binance for Children” initiative. This program follows to aid the many young women in Uganda cannot afford sanitary pads, but use cassava leaves during their periods, leading to infections and general uncleanliness.
CertiK is a blockchain security company founded by Computer Science professors from Yale University and Columbia University to prove the security and correctness of smart contracts and blockchain protocols.
In partnership with grants from IBM and the Ethereum Foundation, CertiK has developed a proprietary Formal Verification technology to apply rigorous and complete mathematical reasoning against code. This process ensures algorithms, protocols, and business functionalities are secured and working as intended across all platforms.
For more information: certik.org
About Binance Charity Foundation
Binance Charity Foundation is a nonprofit organization, dedicated to achieving global sustainable development by unlocking the power of blockchain. BCF develops and tests viable solutions that address the root cause of social problems to guide people out of the poverty trap.The foundation is initiated by Binance, the world’s largest cryptocurrency exchange by trading volume, headed by Helen Hai, UNIDO Goodwill Ambassador, in collaboration with Marie-Louise Coleiro Preca, Former President of Malta, as the Chair of the Advisory Board.
For more information: https://www.binance.charity