CZ Announces Plan to Donate 500 BNB Each to Myanmar and Thailand

In a recent post, CZ announced his plan to donate 500 BNB each to Myanmar and Thailand. But there's a catch—he wants to do it transparently.

Crypto billionaire and Binance CEO Changpeng Zhao (CZ) is known for his philanthropy, and he recently announced on Twitter that he plans to donate 500 BNB each to Myanmar and Thailand.

However, CZ also had a specific request. He asked if there is an on-chain donation system with a decentralized identity (DID) that could handle the distribution of the funds.

If not, he said he would rely on Binance to make sure the coins get to the right people.

“I will donate 500 BNB each to Myanmar and Thailand,” CZ announced. “Is there a transparent on-chain donation system with DID? If not, I will rely on @Binance and @Binance_TH_ to distribute.”

This isn’t the first time CZ has used crypto to support humanitarian efforts. Binance Charity has been involved in several global aid initiatives, including disaster relief and education projects.

This time, his focus is on Myanmar and Thailand, two countries that have faced economic struggles and natural disasters.

His question about an on-chain donation system highlights the growing need for transparency in charitable giving. With blockchain technology, every transaction is recorded, allowing donors to see exactly where their money goes.

This could be a game-changer for distributing aid.

CZ’s concern is understandable. Traditional donation systems are often opaque, leaving room for misuse. An on-chain system with DID would ensure that the funds reach the intended recipients without middlemen taking a cut.

If such a system doesn’t exist yet, CZ is prepared to use Binance’s resources to handle the donations.