Viral Made: Cryptocurrency Takes On Coronavirus
While many may argue that the title of the article smells of clickbait (and it does) we do have something important to say on the issue so please read on. As coronavirus topped 1 million known infections globally today the death rate from coronavirus COVID 19 surged past 50,000. The virus has hit counties in Europe such as Italy and Spain particularly hard and everybody is hoping that those countries represent lessons learned not the future that we have to look forward too.
As coronavirus continues to spread and we all hope that our perspective lockdowns are effective in slowing the curve many in the crypto space have launched their own initiatives to fight the Disease. We have written about many of them in recent days including Comeback Kid Tezos (XTZ) launching a program,, NRG also committed $2 million in another initiative as well as btc users crowdsourcing a DIY coronavirus vaccine.
These are just a few we have written about but there are many more. Here are 3 more initiatives launched in the crypto space to fight coronavirus:
Italian Red Cross Launches Bitcoin Fundraiser
Italy has been one of the hardest hit countries as coronavirus continues to kill nearly 1,000 peole per day. On March 12, as the death toll was ramping up, Helperbit, a P2P national disaster aid provider announced the Italian Red Cross’ Colli Albani Committee had launched a bitcoin fundraiser to help in the fight against coronavirus.
According to Helperbit the money raised will be used to “purchase and set-up a second level Advanced Medical Post [AMP] for pre-triage of covid-19 cases. The target of €10.000 [$10,972] will be used to purchase the core infrastructure and medical equipment for the project. Any surplus will be used to provide medical staff with the personal protection they need.”
It only took 3 days for the project to surpass its goal of €10,000. Project organizers stated in an email: “We don’t stop here, we reopen the fundraising campaign with a new goal: to complete the AMP core structure with the accessories necessary for emergency operations, such as a defimonitor. Regarding the second level Advanced Medical Post for covid-19 pre-triage, we are proceeding with the purchase of the material to be ready for its deployment in the local area.”
Bruno Pietrosanti, president of Italian Red Cross’ Colli Albani Committee stated: “We need to ease the pressure in hospitalizations, as the number of infected people is increasing and there is a reduced number of available places within hospital facilities. 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.
Binance Charity Launches $5 million “Crypto Against Covid”
Binance Charity recently launched a $5 million coronavirus relief campaign called “Crypto Against Covid.” The campaign has already received 37 donations, amounting to a total of 175 BTC, according to its website. Donations can be made in either BNB, BTC, BUSD or XRP.
Binance increases our donations to $5,000,000 USD to help fight #coronavirus worldwide, starting with Italy, US, Spain, Germany…
— CZ Binance (@cz_binance) March 25, 2020
According to its website Binance Charity launched its “Binance for Wuhan” project in December 2019 following the initial outbreak of coronavirus in China. The Company committed to a donation of $10,000,000 RMB (~$1.4M USD) worth of medical supplies to support the battle against the virus in China. Today, BCF is launching a global campaign, “Crypto Against COVID,” to address this worldwide concern. Binance Charity will make the initial upfront donation of $1 million USD in BUSD, and set up a wallet for public donation. Binance will convert the BUSD to fiat and purchase supplies from vetted suppliers and ship the supplies to the targeted hospitals in affected countries.
As of March 20, 2020, Binance Charity has delivered 366,000 pairs of gloves, 56,800 masks, 9 sterilizers, 173 barrels of disinfectant (around 5 tons), 5,280 bottles of hand sanitizers, 20,000 testing kits, 7,850 protective suits, 20,000 pairs of goggles, 388 oxygen concentrators, and 1000 germicidal lamps to over 300 hospitals and medical teams in multiple provinces/cities including Hubei, Sichuan, Guangxi and Shanghai. Binance Charity Foundation leads this mission, searching for qualified medical supplies from all over the world and directly delivering them to as many hospitals in infected areas as possible.
Crypto: Corona Fund Index Launched
Recently the Corona Fund Index Cryptocurrency (CFIX) was launched by global software company Hashcash Consultants which claims to have a presence in 26 countries and more than 100 enterprises use its products. According to Hashcash Consultants 90% of the CFIX trading fees will go to the company’s Corona Relief Fund. They stated the fund is “Inversely backed by the S&P500 market index, CFIX allows traders to profit even on a bear market. Last word we heard the crypto will be listed on Hashcash’s U.S.-based crypto exchange, Paybito and is scheduled to start trading against tether USDT today.