Magnitue 5 Earthquake Hits Morocco on 8th September 2023
A magnitude 7 earthquake on the Richter scale, categorizes as “major.” hit major cities in Morocco on 8th September 2023 leading to a devastating loss of life currently at a toll of 2000 causalities.
As aid relief for those affected in Marrakech alone the country’s fourth-largest city.keeps puring in, Cryptocurrency exchange Binance has pledged millions of dollars in BNB According to an announcement, made on september 11th.
Binance will airdrop up to $3 million in BNB to users identified as living in the affected areas.
Changpeng Zhao, founder and CEO of Binance, called the earthquake “devastating” for the Moroccan people and said his heart goes out to the country.
He also urged for users unaffected by the incident to distribute the funds to those most in need as he took to X( former Twitter) to make the announcment.
Our hearts go out to the people in Morocco🇲🇦#Binance to donate $3,000,000 in #BNB to our users in Morocco🇲🇦
— CZ 🔶 Binance (@cz_binance) September 11, 2023
We standby our users in times of need. Stay strong. 🙏https://t.co/lQzLvhuuQ3
Distribution of the Aid
Binance said it will identify users in the region using a proof-of-address protocol completed before the disaster.
Users in the Marrakech-Safi province, the most affected region, will receive $100 worth of BNB directly to their Binance accounts.
For those users outside of the Marrakech-Safi area, Binance plans to airdrop $10 in BNB each. It expects nearly 70,000 Binance users living in the country to receive some level of aid starting Sept. 12.
It also said it created a public wallet address that is accepting contributions for additional aid, which can be made in BNB, Bitcoin
Crypto A Veichle for Efficient Aid and Donation Distribution
In March, Binance carried out a similar aid scheme to those affected by the intense earthquakes that hit the Turkey-Syria border region, also with $100 airdrops in BNB tokens.
Crypto has been increasingly been used as a medium through which aid is made accessible to victims of disasters and as a means of charity.
This is mainly due to the ease and efficiency at which these funds can be distributed without all the bureaucracy of the traditional financial system.
Many other platforms have taken this initiative since and started to use blockchain technology and crypto as a means of giving and providing support to disaster stricken areas. Some of these entities include, The Sandbox, Bitget, Tether and Gate.io, among others.
