The devastating earthquake that struck Turkey on February 6 left a devastating trail, affecting many communities and individuals.
In response to the tragedy, cryptocurrency exchange Binance announced that it will airdrop $100 worth of BNB tokens to all Binance users residing in areas hardest hit by the earthquake. The process of identifying eligible users will involve checking Proof of Address (POA) submitted before February 6 in ten cities affected by the earthquake, including Adana, Adiyaman, Diyarbakir, Gaziantep, Hatta Iraq, Kahramanmaras, Kilis, Malatya, Sanliurfa and Osmania.
Although the POA method may not be 100% accurate, Binance said it believes it is the best option for locating users affected by the earthquake. The estimated total value of the donations is approximately USD 5 million (TRY 94 million). Binance Charity also set up a public donation address to encourage individuals to donate to the emergency earthquake appeal using a variety of cryptocurrencies including BTC, ETH, BNB, BUSD, and XRP.
Individuals often face challenges accessing traditional banking services following a natural disaster, especially when they need it most for basic needs like medical supplies and food. To combat this, the use of cryptocurrency transfers to provide financial assistance to disaster victims is gaining popularity as transfers are fast, cost-effective, transparent and unlimited, making them ideal for providing assistance in emergencies.
Cryptocurrencies are increasingly becoming a solution for providing aid in the aftermath of disasters. For example, regarding the war in Ukraine, cryptocurrencies have been used to provide aid to those affected by the war. Aid groups are using encryption to deliver financial aid and supplies to people who have been left without traditional banking services due to conflict.
Organizations within the crypto ecosystem are stepping up to support the hapless victims following the earthquake in Turkey. On February 6, cryptocurrency exchange Bitget announced that it had pledged 1 million Turkish lira to aid disaster relief efforts to help those affected by the earthquake.
