Key takeaways:
- Aid organizations have used cryptocurrency to send money and goods to people who can’t use standard banking services because of the crisis.
- CZ, the CEO of Binance, stated that the company is making more significant attempts to assist.
A wide range of places and people have been impacted by the terrible earthquake that struck Turkey on February 6.
The cryptocurrency exchange Binance has stated that it will airdrop USD 100 worth of BNB tokens to all users based in the earthquake’s hardest-hit regions as a response to the tragedy. Proof of Address (POA) entries filed before February 6 in the ten earthquake-affected cities of Adana, Adyaman, Diyarbakır, Gaziantep, Hatay, Kahramanmaraş, Kilis, Malatya, Anlurfa, and Osmaniye will be checked to determine whether users are qualified.
Binance stated that despite the POA method’s potential for imperfect accuracy, it is the best alternative for locating earthquake-affected consumers. The gifts’ combined approximate value is about $5 million, or 94 million Turkish Lira. Additionally, the Emergency Earthquake Appeal includes a public contribution address that Binance Charity has put up for people to give to using a variety of cryptocurrencies, including BTC, ETH, BNB, BUSD, and XRP.
People frequently have trouble using standard financial services after natural catastrophes, especially when they need them for necessities like food and medical supplies. CEO and founder of Binance, CZ, said:
“The recent earthquakes in Turkey have had a devastating impact on so many people and communities. We hope that our efforts will bring some relief to those affected. We are also calling on our industry peers to once again come together to offer support in these times of crisis.”
Since bitcoin transfers are quick, affordable, transparent, and unrestricted, making them ideal for delivering aid in emergencies, their use for sending money to disaster victims is growing in popularity.
Using cryptocurrency to distribute relief after natural disasters is becoming more and more common. For instance, those impacted by the conflict in Ukraine have received assistance using cryptocurrencies. Aid organizations have used cryptocurrency to send money and goods to people who can’t use standard banking services because of the crisis.
Additionally, other organizations inside the cryptocurrency ecosystem are coming up to help the tragic earthquake victims in Turkey. On February 6, the cryptocurrency exchange Bitget revealed that it had donated 1 million Turkish Lira, around $53,000, to relief efforts.
