The future of giving is digital

Bangkok (September 13, 2023) – Binance Charity, the philanthropic arm of the leading global blockchain ecosystem Binance, today unveiled key findings from a survey conducted in honor of International Day of Charity. Aimed at understanding the evolving landscape of charitable giving, the survey relies on responses from 1126 individuals – represented by both Binance users and the broader public – to offer actionable insights that will guide Binance Charity’s future initiatives to better align with public sentiment on philanthropy.

Key Takeaways From the Survey

● While traditional donation methods like cash, checks, and credit cards continue to be popular, accounting for 43% of preferences, the survey uncovers a surging interest in blockchain-based charitable contributions. A significant 32% of respondents indicate cryptocurrency as their favored method for giving.

● The survey unveils a sturdy base of crypto-based donations and philanthropy already in action. While a 71% majority have never used digital currencies for charitable donations, 29% have already embraced this new avenue for giving, underscoring the expanding acceptance of cryptocurrencies in philanthropy.

● When asked why cryptocurrencies are gaining favor, respondents pointed to three core strengths of blockchain technology. An impressive 37% praised its capacity for providing transparency, while 32% appreciate its efficiency and cost-effectiveness. An additional 2% recognize blockchain's unique ability to enhance accountability with verifiable tracking from donor to recipient.

● Binance Charity's survey uncovered the most critical factors influencing people's decisions when choosing a charity to support:
○ Transparency and accountability: This factor stands out as a non-negotiable for 27% of respondents, emphasizing that ethics and open reporting are pivotal in earning donor trust.
○ The cause itself: Nearly 26% of participants are moved to action by the charity's specific mission, proving that a clearly defined purpose can be a powerful draw.
○  Impactfulness: An additional 18% focus on the measurable impact a charity has made, indicating that demonstrable results matter in this age of data-driven decisions.

● When examining the fields that capture the public's choice of a charitable cause, the survey highlights the following preferences:
○ Humanitarian relief: 22% of respondents underscore the importance of timely aid in crises.
○ Education: 20% of respondents highlight a collective aspiration to elevate society through knowledge.
○ Health: Almost neck-and-neck with education, 19% of respondents have a universal concern for well-being.

● Additionally, the survey investigates the public’s level of charitable engagement. A majority of respondents, 51%, indicate they contribute when time and resources permit. Impressively, 20% of participants identify themselves as committed philanthropists, actively seeking opportunities to make a meaningful impact.

How Binance Charity Empowers Global Good

The survey conducted by Binance Charity provides valuable insights into the landscape of charitable giving, confirming a rising trend in the adoption of cryptocurrencies for philanthropy. These findings directly influence Binance Charity's ongoing initiatives designed to make a meaningful global impact. From emergency relief efforts to educational programs and health initiatives, Binance Charity continues to harness the power of blockchain technology to transform philanthropy. 

Binance donated $10 million in cryptocurrency for crisis relief in Ukraine and launched the first-of-its-kind Binance Refugee Card to offer a fast, cheap, and secure way of transferring urgent funds to people in need. Binance also donated $5 million for relief directly to victims of the earthquake in Turkey.

Binance Charity’s educational initiatives, supported by Binance Academy, span five continents with over 57,000 graduates in partnership with top academic and vocational institutions, including Women in Tech and Utiva. This work includes tech and blockchain scholarships and has a core focus on women to address the gender gap that persists in the industry. 

Additionally, Binance Charity’s "Crypto Against COVID'' campaign donated $5.7 million in crypto for healthcare, allowing a delivery of over 2 million PPE items and 500,000 vaccines globally. 

Binance Charity is also pioneering crypto-based philanthropy by empowering non-profit organizations worldwide to accept crypto donations using Binance Pay or any DeFi wallet.