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Binance signs MoU with Ugandan government to help country’s underprivileged children

Sarvesh Kumar



Binance: Signs MOU with the Uganda government to help the children's of the country
Source: Pixabay

The philanthropist arm of Binance signed an agreement with Safe Future, an NGO started by Uganda’s Minister of Presidency, on May 30. This MoU was signed to complement the Ugandan government’s efforts in the field of education.

Ali Kirunda Kivenjinja, the Deputy Prime Minister and the Minister of East Africa Community Affairs, attended the signing ceremony and said,

“Binance Charity Foundation showcases transparency powered by blockchain and encourages Uganda to embrace the new technology.”

HE Edward Kiwanuka, Vice-President of Uganda, also expressed his gratitude towards Binance for supporting the education of the children in the country.

The project is titled ‘Binance for Children Special Impact Education Project Uganda’. Minister of State for Cooperatives said that the project will be of great help for the government and will contribute towards achieving “Millennium Development Goal 2″.

According to Mula Anthony, the CEO of Safe Future,

“Binance for Children project would provide a brighter future for 100,000 children Safe Future will be responsible for project implementation and will ensure the delivery of  meals (breakfast and lunch), solar panels, sanitary pads, school supplies, LED screens, and other much-needed items to 160 schools in Uganda. For instance, the project aims to install solar panels and grant school supplies for 50 schools, with more specific plans for the other schools to follow as BCF and Safe Future work further under the MOU.”

Binance in the past had launched a pilot project, Binance Lunch for Children, in Kampala, back in February 2019. Zcoin was the sponsor of the initiative and it fed close to 257 children and put 53 students back in school. At a later stage, 10 more schools were roped in to provide lunch to them, with contributions from Tron, IOST, and Binance.

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I am a journalist here at AMBCrypto. I cover news on prices of various coins in the crypto-verse and also work on the latest news of coins like - Bitcoin| Ethereum| Litecoin and more.


ErisX goes all hands on deck to launch a Bitcoin Futures market




ErisX goes all-hands on deck to launch a Bitcoin Futures market
Source: Unsplash

ErisX’s CSO, Matt Trudeau, detailed the company’s four important plans for the future, which includes launching a spot market, to secure a Bit License, DCO, and to launch a futures market.

ErisX currently has a DCM contract, which is a Derivative Contract Market that allows ErisX to run a CFTC-regulated futures exchange. However, ErisX aims to get a DCO [Derivatives Organization], which will effectively allow it to run a CFTC-regulated clearinghouse. A clearinghouse would mean that ErisX can take control of the custody of the assets and clear and settled trades.

The CSO explained the benefit of this, stating,

“There is some efficiency for firms like producers [like mining companies]; if they need to hedge their inventory or need liquidity on a spot market, they could do that conveniently on a single platform. “

Trudeau added that from the “post-trade standpoint” and “the collateral management standpoint,” ErisX would have cash, crypto, and the futures, all stored in their clearinghouse. This would boost efficiency since it would be available for all customers under a single platform. The CSO added,

“… so there is some efficiency in terms of managing collateral, if you don’t have assets on  multiple platforms, it can all be in our clearinghouse.”

Apart from the aforementioned plans, Trudeau added that the crypto-industry needs to mature more and that ErisX plans to make a significant contribution to that. He added,

“The market is professionalizing and we think that in terms of what institutions are expecting from a trading/custody experience, we will bring some of the solutions to the market and that’s really the foundational pieces that they are looking in order to build their businesses on top of us.”

Apart from ErisX, LedgerX has also received a go-sign from the CFTC to settle Bitcoin Futures in Bitcoins. Other exchanges include Intercontinental Exchange’s Bakkt and Seed CX.

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