KaJ Labs Announces 1st Distribution of Funds for Social & Racial Equality Justice, Allocates Additional $40M (Litho) Over 10 Years to Non-Profit Groups in the U.S.

SEATTLE, May 25, 2022 /PRNewswire/ -- In 2020, KaJ Labs pledged to contribute $50 million over 10 years to non-profit organizations that support racial and social justice. On the second anniversary of that pledge, KaJ Labs announced that the organization will distribute a portion of its funds from the 2020 Social & Racial Equality Justice pledge to the NAACP and the National Homelessness Law Center.

Distributions will be made in Litho and USD fiat. The monetary awards also coincide with the 2^nd year anniversary of the murder of George Floyd on May 25, 2020. KaJ Labs is committed to awarding $50 million over 10 years to African-American non-profits working to make core changes.

KaJ Labs will allocate an additional $40 million over a 10-year period to non-profit groups working toward racial justice and equity in the U.S. The funds will come from Litho's social responsibility vault.

"I think blockchain, specifically true DeFi applications, will play a big role in removing bias in several of our daily human interactions," said Joel Kasr. "By building decentralized, trustless services and products, we truly believe we can take bias out of lending, leasing, short-term credit, fundraising, investing, and many more business sectors that impact our daily lives."

KaJ Labs launched the Lithosphere.network to address several bottlenecks hindering mainstream Web3 adoption but also as a means of addressing deep rooted bias & empowering underrepresented communities globally. This donation reaffirms KaJ Labs' commitment to social justice and equality, along with Lithosphere's position and allocation of Litho towards social responsibility causes and philanthropy.

Lithosphere's first distribution of funds to the NAACP and the National Homelessness Law Center is part of its ongoing commitment to social and racial justice causes. The platform will provide donors, volunteers and nonprofits with greater accessibility, more flexibility, and faster transactions to further the missions of social justice and equity.

About KaJ Labs
KaJ Labs is a decentralized research organization focusing on Artificial Intelligence and blockchain technology. We're driven to create innovative products that work for the greater good around the globe.

About Lithosphere
Lithosphere is a next-generation platform for cross-chain decentralized applications powered by AI and Deep Learning.

Media Enquiries
Juliet N.
Phone: (707)-622-6168
Email: [email protected]
KaJ Labs Foundation
4730 University Way NE 104-#175
Seattle, WA 98105
Website: https://kajlabs.org
Website: https://lithosphere.network

SOURCE KaJ Labs

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