Locus Chain Foundation Donation MOU signed with five charitable organizations in Africa, India, and Afghanistan
The Locus Chain Foundation, the key player in the development of new-concept, new-generation blockchain platform Locus Chain, announced that it has recently signed MOUs with charitable organizations in India, Africa, and Afghanistan to participate actively in their charity activities.
The charitable organizations that signed cooperation agreements with the Locus Chain Foundation are ibello Foundation operated by Nigerian Prince Franklin E. Omene, Sai sanjeevani Charitable Trust, Kashba Youth, and Human Welfare Trust in India, and Ahmed Masood Foundation in Afghanistan. With the agreements, the Locus Chain Foundation will join in the efforts of these charitable organizations in the areas of health, relief, education, and welfare of the underprivileged groups of society. The Locus Chain Foundation also revealed that it would use the Locus Chain platform as donation currency and for the operation of charity funds; thus contributing to the efficiency and transparency of fund operation, which had long been regarded as a major problem among the charities.
The Locus Chain Foundation believes that the application of blockchain technology to the charity activities and operation of charity funds will help the charitable organizations concerned improve the efficiency and transparency of fund operation as the entire process ranging from fund raising to administration will be shared by all those who participate in the charity programs. Such will eventually lead to increased fundraising and expanded scope of beneficiaries.
“We believe that true charity should involve multi-party cooperation for the promotion of basic education in addition to charity-related activities,” said Yi Sang-yun, CEO of the Locus Chain Foundation. He went on to share his view and plan for collaboration between charity supporters and charitable organizations, “We will commit ourselves to this part of charitable activities through close cooperation with more charitable organizations and try harder to help reduce the educational inequality by region and the gap between rich and poor in various ways,” he vowed.