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Coronavirus Relief Funds: Binance, Ripple And Others Makes Donations to Fight the Coronavirus Outbreak.

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Last updated on September 11th, 2020 at 10:35 pm

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Cryptocurrencies is now used to help fight the coronavirus pandemic in Nigeria and worldwide. Major crypto companies like binance are doing their part to provide coronavirus support to nations, hospitals, and persons suffering from covid-19. 

Many coronavirus relief initiatives such as coronavirus relief campaign, a Red Cross bitcoin fundraising and others are being employed to raise coronavirus relief funds for affected victims. 

Gaius Chibueze, the CEO of AbitNetwork, a blockchain-based application company announced the donation of 3 Million Naira to help individuals cater for their needs during this hard times.

“I have set aside 3 million Naira I want to give as my own support to members of AbitTrader Community who are my registered students to support this sit at home period.”

Few days back, the blockchain-based mobile application company AbitNetwork, has sent out a communique to it’s employees encouraging them to work from home amidst the COVID-19 outbreak.

There are other global coronavirus relief donations made through cryptocurrency aid programs to fight Covid-19 Outbreak. These relief funds includes:

Binance Coronavirus Crypto Donation:

Binance announced it will be matching donations up to $1 million. “Your $10 donation becomes $20,” the company tweeted. “Help fight coronavirus worldwide, starting with Italy, the USA, Spain and Germany.” 

Going further, the company said that it will donate $1 for every retweet of its ‘#CryptoAgainstCovid’ posting, and will make an additional donation of $1 million should the number of retweets reaches 1 million within seven days.

Bitcoin Fundraiser Coronavirus Crypto Donations:

One of the countries heavily hit by the coronavirus outbreak is Italy. The country has recorded a rapid surge in the number of coronavirus cases, creating a national health emergency. 

Helperbit, a P2P national disaster aid provider, announced on March 12 that Colli Albani Committe of the Italian Red Cross has launched a bitcoin fundraiser to handle coronavirus emergencies.

According to the announcement, the funds raised will be used to “purchase and set-up a second level Advanced Medical Post [AMP] for pre-triage of covid-19 cases.”

See Also: World Health Organization Launches MiPasa, a Blockchain Powered Platform to Fight COVID-19.

Ripple Network Coronavirus Crypto Donations:

Ripple, a blockchain company which helps in processing remittance payments through ripple network also announced that it is joining the fight against the coronavirus pandemic. 

Ripple has donated $200,000 as part of the “crypto donations against COVID-19 pandemic.” The donations according to the company will be done in two ways; one to the “TippingPoint’s COVID emergency response fund” and to “Siliconvalleycf’s COVID Regional Response Fund.”

Hascash Coronavirus Crypto Donations: 

Hashcas Consultants also launched a coronavirus relief initiative involving cryptocurrency is the Corona Fund Index Cryptocurrency (CFIX). 

The coronavirus relief funds is “Inversely backed by the S&P500 market index, CFIX allows traders to profit even on a bear market,” Hashcash claims. 

Hashcash said that 90 percent of the CFIX trading fees will go to the company’s Corona Relief Fund. “The proceeds are then donated to nonprofits actively battling the covid-19 crisis.”

While some other companies are looking to make it’s own “ crypto against COVID-19 donations.” We are encouraged to stay at home and ensure the practice of all the safety measures recommended by Nigeria Center for Disease Control and report any suspected cases in your area to the agency.

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By Tony Chimdiuto

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