Ethereum co-founder Vitalik Buterin is working with India-based crypto fund Crypto Relief and Polygon co founder Sandeep Nailwal to send $100 million towards COVID-19 research and medical infrastructure development in India.
Buterin and Nailwal will receive $90 million in USD Coin (USDC) from Crypto Relief, while Buterin will provide $10 million out of his own pocket to further the cause. The two will then help distribute the funds.
According to a January 2022 Twitter post from Nailwal, Crypto Relief will transfer the funds to Buterin in order for the India-based crypto fund to remain in full compliance with their local laws.
The first installment went towards tackling the COVID-19 pandemic in India through “emergency humanitarian relief.”
Crypto Relief describes itself as a community-run fund which has delivered financial relief to India during the COVID-19 pandemic.
Buterin explained in a June 8 Twitter post that COVID-19 and “future pandemics” will continue to be a “large risk in the 21st century.” According to Buterin, we need a “global solution” that combines “frontier scientific innovation” and “on-the-ground implementation.”
Last year @CryptoRelief_ led by @sandeepnailwal allocated $100m to Covid research projects I wanted to fund
Sandeep and I discussed and jointly concluded these and other projects are high-impact and need follow through grants. Hence we decided to put $100m more to these projects
— vitalik.eth (@VitalikButerin) June 8, 2023
Buterin said much of the COVID-19 research will focus on COVID-19 airborne transmission by building better medical equipment.
“This includes improving ventilation, HEPA filtering, and experimental tech like UVC irradiation,” he said.
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Author: Brayden Lindrea
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