On July 15, 2019, Binance Charity Foundation (BCF), the blockchain-enabled charity platform and official philanthropic arm of the global cryptocurrency exchange Binance, distributed 1,100 Pink Care Tokens (PCAT) and delivered 1,100 packs of reusable sanitary pads to 1,100 girls at Busalamu Secondary School in Bukanga Sub-County, Luuka District, Uganda as part of their plans to alleviate period poverty.
This delivery follows the announcement of 47 organizations in the Pink Care Token alliance, all working together to empower 1 million women in developing countries by providing better feminine hygiene. The delivery event was graced by Hon. Mbayo Mbulakubuza Esther, the Minister of the Presidency of Uganda.
Iris Du, Director of Binance Charity, delivers the sanitary pads alongside the Minister of the Presidency of Uganda, Hon. Mbayo Mbulakubuza Esther
Babel Finance is the main donor for the first batch of deliveries to young women in Lukka, Uganda. Their donation will be backed by the issuance of 10,000 PCAT, which can provide 10,000 girls in the Lukka district with 10,000 packs of reusable sanitary pads, sufficient for one year’s usage. BCF plans to deliver 50,000 packs of reusable sanitary pads to 50,000 young women in Uganda by the end of this year.
Pink Care Token is a value-stable coin issued on Binance Chain, pegged with one year’s supply of sanitary pads for one girl. Once girls receive Pink Care Token from Binance Charity, they are able to exchange it to sanitary pads from local suppliers.
Pink Care Token mechanism
The public tender was announced on Binance Charity’s official Twitter account from June 20-25. AFRIpads, a Ugandan local sanitary pads manufacturer, eventually won the bid. The affordable price and reusability of their product indicates the sustainability of their supply to this program. According to Afripads, this is the first-of-its-kind project using cryptocurrency to sponsor menstrual health products for young women. The traditional industries have started to realize the power of blockchain and cryptocurrency. Binance Charity also hopes that by selecting a local manufacturer, we can help grow the local economy and secure jobs for the locals.
Hon. Mbayo Mbulakubuza Esther, the Minister of Presidency of Uganda, graced the delivery event. She said, “I want to extend my great appreciation to Binance Charity Foundation and the [Pink Care Token] alliance for your support on this meaningful initiative. Today, we give out sanitary pads to 1,100 girls, and this donation will support them for one year. I believe our joint effort will allow more girls in Uganda to stop dropping out and to focus on studying. Change will start here today.”
Flex Yang, Founder and CEO of BabelFinance
Through a video message aired during the event, BabelFinance Founder and CEO Flex Yang addressed his wishes for the girls he supported through his generous donation. He said, “It was a great privilege to join this program, and I hope the girls can grow happy and healthy.” He firmly believes that cryptocurrency can make the world a better place by transmitting transparent love to the people in need. As a result, 10 schools in Lukka district will be named BabelFinance Pink Care Schools, which tells us how thankful the community has been.
The reusable sanitary pads delivered to the 1100 girls.