Ehtereum co-founder Vitalik Buterin issued a transfer certificate of 100 ETH and 100 MKR, valued at approximately US$606,110 (approximately Rs 450 crore) for COVID-19 relief in India. Ethereum is an open source blockchain software established in 2014, used to establish contracts on the blockchain. Due to its use in the production and transfer of non-fungible tokens (NFT) (digital collectibles), recently It has attracted a lot of attention in the news. Can be uniquely identified and held by individuals. Ethereum has a currency called Ethereum, which is the second largest cryptocurrency in the world after Bitcoin.
Given the scale and scope of the tragedy caused by the coronavirus in India, many rescue operations have sprung up, ranging from individuals giving time to help people coordinate and find resources to companies that donate oxygen and other emergency supplies. People all over the world will also support India, and Buterin’s donation should help encourage the global cryptocurrency community to make a difference here.
Tech founder on his Twitter account Published A pair of links to EtherScan. EtherScan is an independent platform for sharing blockchain data built for Ethereum. The platform shows that the total market value of 100 MKR (Maker) and 100 ETH (Ether) transactions exceeds $600,000 or more . 450 million.
In the tweet, Buterin thanked Indian technology founder Sandeep Nailwal for organizing the COVID-19 relief fund, and also thanked Indian technology investor and entrepreneur Balaji Srinivasan for promoting this campaign.
I can’t sit down anymore. I will conduct a Covid relief campaign to replace the situation in India.
Need help from the global crypto community.
I will be solely responsible for transparency, use of funds and regulatory compliance
If you want to donate: 1/n
-Sandeep-Polygon (previous Matic network) (@ sandeepnailwal) April 24, 2021
According to Nailwal’s tweet, he plans to use the funds to obtain oxygen, food, and possibly even the cost of vaccines for the poor, and he has pledged to publicly announce all expenditures to achieve complete transparency.
Although you cannot use cryptocurrencies like these to directly fund relief efforts, because they are not widely accepted as currencies, but nonetheless, these tokens have a high market value around them. Bitcoin is the largest and most famous, but many other Bitcoins including Ethereum, Litecoin and more recently Dogecoin are in high demand. At the time of writing, the Bitcoin price is Rs. 37,12,394, while Ethereum currently sells for Rs. 1,63,519, Litecoin will cost you Rs. 16,829 buy a unit. This means that the funds can be used to generate large amounts of funds, which in turn can be used to respond to this crisis.
Although Buterin appears to have made donations in his personal capacity, the Ethereum Foundation has also made major donations in the past. According to reports, the foundation donated 1,125 ETH to UNICEF last year, valued at US$262,000 (approximately 1.9 million rupees at the time). Prior to this, the foundation donated approximately US$150,000 (approximately Rs 1 crore at the time) of Bitcoin and Ether to UNICEF’s experimental cryptocurrency fund in 2019.
A UNICEF spokesperson said in a press statement that the fund has been used to invest globally, and donations from 2020 have been used to invest to mitigate the impact of the COVID-19 crisis. According to the report, UNICEF operates in start-ups in countries such as India, Argentina, China and Turkey.
An Indian start-up company StaTwig is one such recipient. The company is currently working on a project described on its website as a “vaccine ledger”, which can be used for vaccine unit-level traceability, detection of expired products, cold chain monitoring, etc. .