Amid the worsening effect of the pandemic on India, cryptocurrency veterans are helping the country step up its defense against the deadly disease by donating digital assets. Numerous prominent crypto-related individuals, including the famous Vitalik Buterin, one of the co-founder of Ethereum, has contributed digital tokens towards coronavirus aid in the Asian country.
Reportedly, Burterin donated as much as one hundred Ethereum tokens and the same amount of MKR, which are estimated to be worth around $650k. Meanwhile, some other donors included Sandeep Nailwal, the founder of Polygon, and Balaji Srinivasan.
— vitalik.eth (@VitalikButerin) April 24, 2021
Although the world’s most populous country survived the first wave of the pandemic outbreak, the second wave has been destructive and challenging the country’s beleaguered health care systems. For the fifth straight day, India has been recording an increase in daily infections.
Meanwhile, the health experts have expressed concerns over the shortage of essential medical supplies, including oxygen cylinders. So far, the country of 1.3 billion people has recorded a total of 17 million confirmed cases.
The donations from the crypto owners came after Polygon’s founder created a digital fund for the Asian country. The aid fund accept payments in Dogecoin, Bitcoin, Ethereum, Ripple, and Tezos.
The crypto entrepreneurs described it as a big step forward in using the technology to help the country in crisis and expressing hopes that in the future, it could help boost the startups in India.
So far, the status of cryptocurrencies remain uncertain in India, with the supporters continuously lobbying the government over its special effects on the local economy.