New stable coin called ‘The Pink Care Token’ attempts to give women worldwide access to sanitary products. Created by Binance, also showing support is TRON [TRX] and Ripple [XRP].
.@Tronfoundation is proud to join #PinkCareToken alliance with @BinanceBCF, @binance to support sanitary pads to address #periodpoverty. Donate to https://t.co/vGFYK4Vmev, and help 1 million young women live with dignity. @cz_binance. #TRON #TRX $TRX pic.twitter.com/292MoHsG33
— Justin Sun (@justinsuntron) July 3, 2019
The coin, being created by Binance Charity Foundation, is using blockchain to give 1 million women access to free sanitary products. More than 46 companies and organizations have joined together to create a “social-impact stablecoin” to reduce period poverty. The Pink Care Token plans to allow people to donate money to a token that can be exchanged for sanitary products.
“After the women receive the token, they will use the token to redeem their sanitary pads at the supplier,” Athena Yu, executive director of the Binance Charity, explained to Decrypt. “The supplier will come to the school to distribute the sanitary pads to each girl.”
Uganda will be the first of many places where the Pink Token will go live, sometime later this month. A widespread problem, certain cultures alienate and ostracize women who menstruate, and with lack of resources often prevent young women from going to school or work, hindering their socializing, all over the world.
Blockchain being used makes this extremely interesting, as NGOs and other organizations that typically just give out free sanitary products are often wrought with corruption, leading to no accountability of where the donations have ended up. Blockchain provides simple accountability and ensures the funds go to the right people. The charity is currently exploring other countries where girls suffer from period poverty–and crypto donation is accepted–with the aim of rolling out the project in other countries.