Blockchain has become a development trend since its birth over 10 years ago. With the deep understanding of blockchain, its application is more and more extensive. Charity has also become an important direction in blockchain research.
In this context, MGC TOKEN’s first charity gala was held in India. The charity gala was jointly organized by BG-MF from the United Kingdom and MGC TOKEN. Global media friends, core figures of BG-MF, deputy director of BG-MF Charity Center, core leaders of MGC TOKEN India, and global philanthropists had attended the gala. The gala is themed as “charity auction and support for global public welfare”.
For charity, the openness and transparency brought by the blockchain technology can ensure that the flow of funds to the donees is clear and could be checked, and the non-tamperable nature of the blockchain could ensure that financial information will not be tampered, while the anonymity of blockchain could protect the privacy of donors. The introduction of smart contracts at the bottom of the blockchain technology ensures that the funds could be used for their purposes only. For the charity platform, it could improve the platform’s credibility, and also simplify the intermediate processes and reduce the operating costs of the charity activities. All proceeds from this gala will be donated to the BG-MF Charity Center. This donation will be used for youth development around the world, and the BG-MF Charity Center will also allocate a portion of the donation to help the poor in Africa. The source and use of the donation will also be written into the blockchain, and everyone can see where the money is going. This is also a model for the perfect combination of blockchain and philanthropy.
The BG-MF Charity Center has always focused on the healthy growth of young people around the world and is concerned with the development of global public welfare. The emergence of MGC TOKEN allows BG-MF Charity Center to better participate in global philanthropy while making the relationship between donors and BG-MF Charity Center closer.
A total of £500,000 was auctioned at the party, and John Morris, the core figure of BG-MF, handed a £500,000 check to Michael Mein, deputy director of the BG-MF Charity Center.
A lucky draw was introduced to this gala in order to reward the philanthropists, hoping that they can continue to pay attention to charity, and expecting that more people can be attracted to philanthropy.
The successful convening of the MGC TOKEN Charity Gala is not only a model of the combination of blockchain and philanthropy, but also marks the first step of MGC TOKEN in philanthropy. In the future, MGC TOKEN will continue to focus on public welfare and promote development of global philanthropy.
A total of £500,000 was raised that night, and Mr. John Morris handed a $500,000 check to Mr. Michael Mein. The remaining funds were already used to purchase food and daily necessities. The funds raised this time will be written into the blockchain. The fundraiser can clearly see where the money is going.