In a welcome move, Ethereum co-founder Vitalik Buterin has announced a contribution of tokens worth $6,50,000 towards a COVID relief fund created by a fellow Indian Blockchain entrepreneur, Sandeep Naliwal.
Through his Twitter handle, Buterin thanked Sandeep Naliwal of Polygon for creating a relief fund seeking help from the crypto community. He also confirmed donating tokens towards Covid relief and asked others to particiapte.
The said funds will be used to provide oxygen to the needy and would also cover the cost of vaccines for the needy and the poor population. India is facing the second wave of Covid pandemic and has reported the highest daily cases in recent months.with record number of casualties due to lack of adequate medical infrastructure.
The support coming in from the crypto community is a welcome step. It is crucial because the Indian crypto currency market is still in the embryonic stage. The government has been highly unsupportive. It recently brought in a legislation to ban cryptocurrencies. As such, a Covid relief fund from the crypto community can be crucial to the future prospects of Indian crypto market.
Steps like this coming from the leading members of the global crypto community have also been grabbing attention of global organizations like Unicef which has not shied away from commending such efforts.