Vitalik Buterin and Polygon’s Nailwal to Send $100M for COVID-19 Research
- Ethereum co-founder Vitalik Buterin and Polygon co-founder Sandeep Nailwal will work with India-based fund Crypto Relief.
- Crypto Relief will send the Ethereum co-founder and Nailwal 90 million USDC for COVID-19 research.
- Buterin announced that he will add $10 million from his own pocket to fund the research on COVID-19.
- He aims for a “global solution” that combines “frontier scientific innovation” and “on-the-ground implementation.”
The co-founder of the Ethereum blockchain, Vitalik Buterin, will work with the co-founder of the Ethereum scaling network, Polygon, Sandeep Nailwal, along with a crypto fund based in India, Crypto Relief, to send close to $100 million towards the research of COVID-19. The funds will be used to develop medical infrastructure to study and develop aid for the pandemic in India.
It is crucial to note here that Buterin and Nailwal will together get 90 million USD Coin (USDC), a stablecoin issued by Circle, while the Ethereum co-founder confirmed that he will provide an additional $10 million from his own pocket for the COVID-19 research. The two co-founders will work together to distribute the funds.
As per a post on social media platform Twitter by Nailwal in January 2022, it is imperative for Crypto Relief to send funds to Buterin to comply with the laws of the land. The first wave of funds to tackle COVID-19 in India was pushed via “emergency humanitarian relief.”
The Crypto Relief fund is responsible for providing relief to the Indians affected by the pandemic and describes itself as a community-led fund. Buterin noted in a June 8 Twitter post that COVID-19 and “future pandemics” will continue to be a “large risk in the 21st century,” and therefore, a “global solution” that combines “frontier scientific innovation” and “on-the-ground implementation” is needed.
“We need to find public health solutions that respect people’s rights and freedoms, are widely accessible, and ensure that we not only stay alive and healthy but have enjoyable lives that are worth living,” noted the Ethereum co-founder.
Buterin also added in his Twitter thread that studying the transmission of COVID-19 via air will be a major part of the research, and prevention will be implemented by building better medical infrastructure, including “improving ventilation, HEPA filtering, and experimental tech like UVC irradiation.”
As reported earlier by Bitnation, Buterin recently commented on the usage of cryptocurrencies in the form of payments, stating that crypto has more options than fiat and is highly underrated. He explained that crypto payments are more convenient than their fiat counterparts, aside from being censorship-resistant.
A crypto journalist with over 3 years of experience in DeFi, NFT, metaverse, etc. Parth has worked with major media outlets in the crypto and finance world and has gained experience and expertise in crypto culture after surviving bear and bull markets over the years.
