03-16-2020 icon

Italy: Red Cross Launches Bitcoin Fundraiser to Fight Coronavirus

By Sagetwriter

The Italian Red Cross in partnership with the Colli Albani Committee and Helperbit – a blockchain platform for charities, are raising donations in Bitcoin and other cryptocurrencies as they look to combat the coronavirus epidemic in the country.

According to reports, the proceeds from the crypto donations will be used to set up a second tier advanced medical post for pre-triage COVID-19 cases in the country. The program targets €10,000 in donations to buy necessary medical equipment and infrastructure, with excess to be used for payments of medical staff.

Across Europe, Italy currently ranks as a priority-struggling nation with the virus. Infected cases in the country are over 17,000 persons; with economic and activities grounded and more citizens resorting to self isolation.

Speaking on the Bitcoin fundraiser, Bruno Pietrosanti President of the Colli Albani Committee stated:

“We believe that an innovative fundraising tool like Bitcoin can help us find the necessary economic resources, that are very difficult to obtain in this historical moment.”

Pietrosanti added that the program will further reduce the pressure on Italian hospitals due to the number of infected patients.

More Crypto Organizations Join Fight Against Coronavirus

Crypto exchanges, entrepreneurs and other industry players have continued contributions in form of education and donations to countries affected by the Covid-19 outbreak.

In Italy, Young Srl – crypto focused fintech firm and the Blockchain Education Network Italy (an NGO that shares information about Bitcoin and blockchain in Italy), have all come out to support the Red Cross cryptocurrency project.

Crypto and Blockchain technology have both been pitched as better alternatives for charity donations as they offer “transparency” in funding courtesy of their trace-ability feature.

Did you know? In October 2019, UNICEF launched a cryptocurrency fund which now accepts Bitcoin (BTC) and Ethereum (ETH) donations.