SINGAPORE JULY 3, 2019 / EMURGO – Official Cardano partner and commercial arm EMURGO is pleased to kick-start as a founding partner of a strategic Charity Alliance, “Pink Care Token Project,” along with other blockchain projects, enterprises, and commercial ventures. This Charity Alliance intends to improve the health and economic empowerment of one million young women in underdeveloped nations, by addressing the issue of period poverty that has limited access to sanitary products and hygienic practices.
The Pink Care Token Alliance aims to fulfill its objective by implementing the usage of blockchain-based philanthropic solutions to more effectively tackle fixable societal issues in underdeveloped nations through the introduction of charity initiatives. This alliance is supported by each of the founding partners in addition to main founding partner Binance Charity Foundation - the official philanthropic arm of the world’s leading cryptocurrency exchange Binance. The overall objectives of the Pink Care Token Alliance align seamlessly with EMURGO’s deep commitment to social responsibility by assisting those in need in our communities and the underdeveloped world at large with resourcefulness and useful utility.
The Pink Care Token Project will issue a redemption-only stablecoin, Pink Care Token (PCAT), that will be pegged to a year’s supply of sanitary pads instead of a fiat currency. With blockchain-based solutions being enabled, there will be full transparency, reduced intermediary parties, and minimal transaction costs, among other benefits, which will allow funds to have a more powerful effect on the young women that need it the most in underdeveloped nations compared to traditional charity-giving methods.