Ethereum co-founder Vitalik Buterin and Polygon co-founder Sandeep Nailwal are collaborating to deepen COVID research and improve medical infrastructure development in India via local fund Crypto Relief Fund, reported Cointelegraph.
Nailwal and Buterin will help direct $90 million from the fund to various research organizations. Buterin wants to contribute another 10 million US dollars from his own pocket. The fund will transfer the money to the two crypto billionaires to ensure compliance with Indian laws.
Some of the funds have already been invested in fighting the COVID-19 pandemic in India through “emergency humanitarian aid”. Crypto Relief is community driven. The fund had raised a total of $473 million through November of last year.
Buterin: Global solution for pandemics is needed
The Ethereum developer tweeted on June 8 that COVID-19 remains a major risk in India and did not rule out “future pandemics” which he believes will remain an important factor. To fight pandemics effectively, people need a “global solution” that combines practical implementation and scientific innovation.
He added that much of the COVID research will focus on airborne transmission of the virus by improving medical devices. This includes improving air filtration, ventilation and experimental technologies such as UVC radiation.
Short- and long-term effects of COVID
Buterin said the other important area of research is the long-term effects of COVID. He claims that many people suffer from very long-term symptoms, which is a big problem, so more research is needed in this area.
The Ethereum co-founder explained that the donation would be paid out to a Gnosis Safe wallet via a public wallet address. At the beginning of last year, he donated US$100 million, initially to Shiba Inu (SHIB).
The latest initiative is one in a series of philanthropic efforts by the Russian-born crypto billionaire. In April last year, he donated $5 million in ether to Aid for Ukraine to support the war-torn country.
#Ethereum #Polygon #cofounders #donate #millions #COVID #research