FOODBANK, a fast rising cryptocurrency token which launched 4 weeks ago is about to make its first charity donation to a foodbank. Launched on the Binance Smart Chain, FOODBANK is a crypto token that was born from its creators’ frustration at the growing number of foodbanks popping up in the UK and other developed countries.
In a series of weekly AMA’s “Ask Me Anything” broadcasts on the FOODBANK Telegram group, FOODBANK’s Creator and Chief Executive Officer, Chris Penman explained the thought behind setting up this new charity token. Chris says “FOODBANK was started as a reaction to the growing number of foodbanks currently in existence in what should be rich countries. Countries where despite the apparent national wealth, even those working two jobs somehow do not earn enough to feed their families. FOODBANK was started I guess out of frustration and bewilderment that someone working a full time job in the UK or USA or other “first world” country could actually find themselves unable to pay for food. How can that even be possible?”. Chris goes on to say, “FOODBANK was created to see if perhaps, we, the crypto community could fund local foodbanks and help our own local communities.”
You’ll note the word LOCAL in there. Chris’ dream for FOODBANK is that the funds raised actually go to foodbanks LOCAL to the major holders of the token or indeed to groups of holders with a large joint holding of the token. Chris notes that “There are many tokens where the charity is in some far off land and people you do not know and where any funds raised are spent without the holders seeing the actual benefit of the work the cryptocurrency is doing.” Having invested in such projects in the past he feels that major token holders should be able to see the work the project does and feel the pride in the work their investment is doing. In a world where there is so little hope, Chris wants his investors to see that they can make a difference.
With $20000 already in the token’s charity wallet, FOODBANK are ramping up to make their first “small” charity donation. Fittingly this will be to the foodbank Chris would normally donate to, the one behind the token’s creation. Future donations Chris advises “will need to be local to the major token holders. You can’t tell people you’re going to do something then not do it! We have major holders in Vietnam, Pakistan, India, The US and the next donation could go to any of those locations, we’ll just have to wait and see”. Chris goes on to explain that “Another consideration is how we take money out of the token in order to actually give to charity, without crashing the token. I need to remember that while for me this is a charity token, for the token holders, this is an investment. I’ve invested in numerous tokens myself over the years where the Dev has taken huge chunks of money out the token to buy Teslas, sponsor nascar teams and run huge advertising campaigns all to the detriment of the token holder’s investment, that can’t happen here”.
So, who is Chris Penman? Well, he’s a quiet, shy individual who has written an amazon bestseller and who runs two Engineering Consultancies. While drinking a no frills americano, dressed in blue jeans and a company T-shirt, Chris admits that being CEO of a cryptocurrency has made him far more visible than he is comfortable being. Chris notes that he “didn’t appreciate how visible (he) would be to the token holders, I’m on Telegram to some extent almost constantly and during the AMA’s literally anyone from anywhere in the world can ask me anything. It takes some getting used to. I’m used to sitting in an office designing showrooms for Lamborghini or McLaren or overseeing someone’s house design. My normal business is fairly anonymous, FOODBANK has made me far more visible”. A husband and father of a one year old girl, whose name is at the start of the tokens code – go take a look, Chris is a man who is used to hard work and more importantly used to delivering on his promises.
For more information visit https://foodbankcrypto.org/ or follow them on Twitter @foodbankcrypto or join their Telegram group @Foodbank_crypto
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