Can cryptocurrency donations help combat the Coronavirus?
Cryptocurrency and Covid-19 might seem like unlikely bedfellows. However, cryptocurrency users are currently leading a charge to help expedite Coronavirus relief efforts. At present, over 320.0759 BTC donations have made their way to new Binance relief organization Crypto Against Covid.
In a further show of support, the largest mining group on the Ethereum blockchain, are pledging over 6,000 mining rigs to help expedite Coroinavirus research.
Cryptocurrency Donations to Covid-19 Groups are Putting Crypto in the Spotlight
Cryptocurrency market analysts are still waiting with bated breath to see how the Coronavirus crisis will affect cryptocurrency prices long-term. However, while they do so, cryptocurrency itself is benefiting from a Coronavirus PR makeover.
Mainstream media reports on cryptocurrency are almost always negative. Typically, media outlets claim that cryptocurrency is the currency of choice among dark web criminals. Alternatively, reports suggest that Bitcoin mining is contributing to climate change. Recently, though, reports have been much more favorable.
- On March 12th, the Italian Red Cross made public details of a new drive to raise Bitcoin via a fundraiser. All BTC proceeds will be used to provide direct medical assistance to Coronavirus sufferers.
- At present, cryptocurrency exchange Binance is pledging to match all cryptocurrency donations to Crypto Against Covid, up to the tune of $1 million.
- On April 2nd, Hashcash operated cryptocurrency exchange Paybito, began allocating 90% of all trading fees to its own Coronavirus Relief Fund.
How Can You Help Support Covid-19 Research and Sufferers?
At present, the Coronavirus crisis is showing no signs of abating. The fallout from the crisis also promises to have a major economic impact worldwide. This is one that will affect even the most well-insulated of cryptocurrency whales eventually.
Thankfully, it is not just retail investors who are helping support Coronavirus relief efforts. To date, most of the 320.0759 BTC received by groups like Crypto Against Covid, is the result of pledges of support by major Bitcoin whales.
Of Bitcoin donations so far received by Crypto Against Covid, 64.04 BTC ($440,162) has already gone on to directly support Covid-19 relief efforts. More importantly, fundraising is still on-going.
Support Coronavirus Research by Folding@Home
Since the start of the Coronavirus crisis, over 10-million Americans have begun registering for unemployment benefits. For this reason, many people will be unable to donate to Coronavirus fundraising campaigns, even if they want to.
Thankfully, even if you are unable to donate financially, it is still possible to support Coronavirus research in other ways.
Just like Ethereum miners donating CPU power to assist with Covid-19 research, you can do the same with your home computer. This is thanks to the already well-known Folding@Home project.
Could you help fight Covid-19 by sharing idle computer resources? To find out, click here.