The Italian Red Cross and several other concerned firms have partnered to launch a new fundraising medium to accept Bitcoin donations to combat Coronavirus.
How will the Italian Red Cross utilize the Bitcoin donations?
The Italian Red Cross initiative can now receive Bitcoin and other crypto donations to help fight the new COVID-19 strain. WHO recently declared the coronavirus outbreak a pandemic.
Donated bitcoins will reportedly be used to set up a second-level advanced medical post. This will be for pre-triage of COVID-19 cases in Italy. Moreover, Bitcoin donations are expected to reach €10,000 and will be used to buy the medical pieces of equipment.
Furthermore, the remaining funds will be used to cover the fees of the medical staff that will be involved in the project. Invariably helping the work of the Emergency Room and thus avoiding to expose the hospital staff to infection.
Bitcoin a tool in fighting pandemic
Helperbit, a blockchain startup that offers a platform for charities, explained that Bitcoin is a necessary tool to fight the coronavirus. Bruno Pietrosanti, President of the Colli Albani Committee, also said:
“We believe that an innovative fundraising tool like Bitcoin can help us find the necessary economic resources, that are very difficult to obtain in this historical moment.”
He added that his platform joins the initiative to play it part and ease the pressure on government hospitalizations. Mainly due to the high number of infected people recorded an increase in infected patients. Also the few numbers of available in spaces in Italian hospitals.
Other organizations supporting the fundraising campaign
This campaign is supported by Young Srl, a Fintech startup that operates in the cryptocurrency sector to support community initiatives. The campaign also has the backing of Blockchain Education Network Italy. This is a non-profit organization that divulges information about Bitcoin and blockchain in Italian territory.
Andrea Ferrero, CEO of Young SRL, commented on the use of blockchain in this fundraiser:
“I strongly believe that blockchain technology is more effective and transparent to support this type of initiative. Young is a company that aims to create or exploit innovative models to improve existing procedures and we will always be at the forefront in supporting charitable projects, such as the Red Cross one.”
Notably, other crypto platforms are also giving their quota to help combat the spread of coronavirus. Binance recently pledged to donate 10 million Chinese Yuan to fight the recent outbreak of coronavirus.
While Huobi launch Huobi Charity to help provide help to the victims of Wuhan coronavirus. Also, cryptocurrency exchange, Binance donated $1.5 million to help coronavirus victims.
What do you think about the Italian Red Cross accepting Bitcoin donations to fight coronavirus? Let us know in the comment section below.