Ethereum co-founder Vitalik Buterin, along with India-based crypto fund Crypto Relief and Polygon co-founder Sandeep Nailwal, have pledged $100 million towards COVID-19 research and medical infrastructure development in India. The collaboration aims to tackle the ongoing COVID-19 pandemic and prepare for future pandemics.
The Donation
The donation will be split between the three parties involved, with Crypto Relief donating $90 million in USD Coin (USDC) and Buterin providing $10 million from his own pocket. Buterin and Nailwal will then help distribute the funds. Crypto Relief will transfer the funds to Buterin, ensuring compliance with local laws.
The first installment of the donation has already been deployed towards tackling the COVID-19 pandemic in India through emergency humanitarian relief. Crypto Relief is a community-run fund that has delivered financial relief to India during the COVID-19 pandemic.
The Cause
According to Buterin, COVID-19 and future pandemics will continue to be a large risk in the 21st century. He believes that a global solution is necessary, combining frontier scientific innovation and on-the-ground implementation. A significant portion of the COVID-19 research will focus on airborne transmission by building better medical equipment, including improving ventilation, HEPA filtering, and experimental technologies like UVC irradiation.
Another main research area will focus on Long COVID, which refers to the high number of people experiencing long-term symptoms after being infected with COVID-19. Buterin believes that Long COVID research should continue to be a primary focus.
The $100 million donation will be disbursed to a Gnosis Safe wallet using a specific contract address.
Buterin’s Philanthropic Efforts
This isn’t the first philanthropic effort by Buterin. In April 2022, he sent $5 million worth of Ether (ETH) donations to “Aid for Ukraine” to assist its defence against Russia’s invasion in February 2022.
As of November 26, Crypto Relief has managed to raise $473 million in funds, according to the firm’s website. Cointelegraph reached out to Crypto Relief to get an up-to-date figure, but did not receive an immediate response.
Conclusion
The $100 million donation towards COVID-19 research and medical infrastructure development in India is a significant contribution towards tackling the pandemic. The collaboration between Buterin, Crypto Relief, and Nailwal aims to find a global solution to mitigate the risks of COVID-19 and future pandemics. The donation will focus on improving medical equipment and Long COVID research, which are critical areas in the fight against the pandemic.