Crypto relief Fund to provide aid for Covid-19 relief work in India
Now with all this Covid-19 crisis in India , it’s heartening to hear stories like these that are not just about human kindness but of crypto love(: , where blockchain is used to aid people. This shows that some big whales have a soul, and it reminds me that subconsciously I was once a fan of the founder of Ethereum, Vitalik Buterin for solid reasons.
Well, perhaps the credit should now actually go to the co- founder of Polygon, Sandeep Nailwal as he set up a “crypto-COVID” relief fund. The proceeds of this fundraising campaign benefit NGO’s like giveindia, an NGO that is on ground doing Covid-19 relief work.
Tweet from Sandeep Nailwal
Sweet crypto love when Indians are getting no support from the Govt. at these tough times
This is very sweet news, to people like me, not just because I am a crypto enthusiast, because such noble efforts are put forth at a time when our own Government let us down, with Indian Government not spending money to fund the needs of it’s people and struggling businesses. The lives that are lost and the suffering of people mean nothing to authorities.
There is a fund called the PM Cares fund, where a lot of donations were collected for the Central Government to spend but that fund remains obscure, unaudited, with no disclosure on the contributions received by the fund and its donators. So, with all the news of this chaos of rising Covid cases, lack of beds, oxygen, and deaths , this news filled my eyes with tears and brought a smile to my face.
This Covid-19 relief fund is transparent, audited and regulatory compliant
All the crypto donations received in this Covid-19 crypto relief fund can be tracked and verified.
Moreover, Sandeep has ensured that the relief fund would be regulatory compliant and transparent with audits with India’s leading chartered accountants @Vacpad overseeing those aspects. This means that there will be an account that transparently reveals all details about this relief fund - from the donations received, donators, with details on how these funds got used as well(: .
Tweet from Sandeep Nailwal
The Crypto fund has attracted contribution from crypto celebrity - Vitalik Buterin
Tweet of Vitalik Buterin
Vitalik Buterin has donated 100 ETH and 100 MKR to this fund, that amounts to about 2,59,273$ worth of ETH and 4,23,266$ worth of MKR that cumulatively amounts to Rs 51,253,156 in fiat currency of India - India Rupee. Wow… Thankyou Buterin, this means a lot to us Indians!!
Crypto love showered on India even though its Government has shown hostility towards crypto
NFT Plazas's tweet
The odd thing is, crypto aid is coming to India for Covid19 relief when the Indian Government has adopted an hostile stance towards crypto, with no clarity on whether they intend to ban cryptos or harshly regulate it(with heavy taxes of course, impoverishing us).
This crypto relief episode shows the potential of crypto to do good
Government officials and others keep saying cryptos can be used for money laundering and for doing illicit transactions etc but this story proves that cryptos can be used for good purposes as well. Now, just like crypto funding has enabled fast, transparent funding for Covid-19 relief work, similarly crypto funding can facilitate fundraising for startup business entities tomorrow. It’s very clear that crypto has more potential to do good than bad.
A question to my readers does this inspire you to want to do something good as well?
Thank you for reading, this post is full of crypto love for each and everyone of you.
