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Binance to the rescue, West Japan downpour donation pool

Simran Alphonso

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Binance to the rescue, West Japan downpour donation pool
Source: Pixabay

Binance is known to the be one of the top powerful cryptocurrency exchanges in the world. As the phrase goes ‘With power comes great responsibility’ the group is taking charge of the current disaster in West Japan. The co-founder of Binance, Changpeng Zhao is known by his popular internet name ‘CZ’. The initiative of helping the victims in West Japan was exercised by him.

On 7th July CZ tweeted:

“Our hearts go out to the victims in West Japan. @binance will begin with a $1,000,000 USD equivalent donation in either BNB, BTC, or JPY. We also ask our crypto partners to join us and help our friends in need.”

West Japan is currently under the disasters of torrential rains. The death toll has reached 112, and the count of people missing is shocking. The country is facing massive flooding and landslides which have destroyed homes and has relocated over 10,000 people.

In order to help the victims, Binance has introduced two forms of donation; anonymous and named donation. Binance asked the donors to send ETH or ERC20 tokens that one wants to donate directly to the Binance donation address ‘0xA73d9021f67931563fDfe3E8f66261086319a1FC’.

This is not the first time Binance has stepped towards the betterment of the world. Last month, CZ had put forth the motto of “Not about profits, but about spreading crypto” when Binance launched its first ever Fiat Crypto-exchange in Uganda. As the group is slowly expanding, they’re building their terms of Corporate Social Responsibility [CSR] too.

This gesture of kindness by Binance was also supported by Verge [XVG] currency.

The official account of Verge tweeted:

“A call to unite all communities as a global #crypto family. Let’s come forward to support @japan. Verge Currency will donate all funds to @binance’s effort to support this disaster.

XVG: D7KV88Zg2XNHUtX1DYhMsoHRz1RG9xGSmM

BTC: 1GpPoX5kcPHLsGdw6rL6Cc8azVYhy2JcmK

#WestJapan”

As observed the crypto-community is currently trying to make ends meet and help the affected victims of West Japan.





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Economist Stephen Moore joins project touted to be ‘world’s first decentralized crypto central bank’

Biraajmaan Tamuly

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Stephen Moore; Former Wall Street editorial board member joins new "mini-Federal" cryptocurrency backed entity
Source: Pixabay

Stephen Moore, former member of the Wall Street Journal editorial board and popular economist, recently attempted to join the Federal Reserve. Alas, he was denied the opportunity. Now, the economist is back in the news again.

According to a report by Fox Business, Moore has joined a group of entrepreneurs who plan to kick-start their very own ‘Federal entity’ named “Decentral,” which incidentally will be labelled as the “the world’s decentralized central bank.”

Sam Kazemian, CEO of Decentral, said that the endeavor’s major objective was to create a new type of central bank that would stabilize virtual assets such as Bitcoin and its counterparts. The bank would work on the same lines as the Federal Reserve does for the U.S economy. Decentral plans to carry forward responsibilities in terms of regulating the supply of cryptocurrencies in the market, in the same manner. Apparently, Decentral will also issue its own crypto tokens in the exchange for other digital assets, with the valuation of the token tied to a stable assessment method.

While Moore has been hired as a Chief Economist, it was reported that his role within the company is still “unclear.” Moore said,

“I am really excited about doing this. I hope it makes me rich.”

Moore also drew comparisons between Facebook’s recently unveiled Libra and Decentral’s offer. He stated that the Decentral crypto would offer a payment method that would be pegged to a stable currency and it would present major uniformity and reliability in the digital asset space, which is often divided among other major cryptos.

Moore added that his employment with a cryptocurrency-backed entity did not create a wedge between his work as an economist. In the current scenario, cryptocurrencies have a huge role to play in the economy, in a way not contradictory to Federal Reserve policies, he added.





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