Founded by Sandeep Nailwal, a co -founder of Polygon, BFI (Blockchain for Impact) has developed biomedical research and invested $ 90 million to improve medical innovation and climate regeneration.
The BFI of the co -founder plans to assign an additional $ 200 million to support the growth of medical startups, expand biotechnology research, and strengthen public health systems.
The BFI has supported some influential projects in the Indian medical sector, including the local community in the region where floods are easily occurring, the UNICEF Healthcare Innovation Partnership and the Solar Public Health Center (PHCS), a floating hospital of Assam, which helps to raise relief funds during the Covid-19 crisis. Their additional initiatives will focus on medical innovation and research.
Integrating blockchain technology can make charity more transparent and responsible thanks to the possibility of verification of the ledger.
Nailwal told Cointelegraph.
“All donations from the BFI can be tracked through the blockchain. The final transfer to the non -profit program is caused by banks, but all financial stages are transparently displayed on our website. All financial data can be visualized and NGO details are posted to confirm the burden independently.”
Nailwal added: “As such, we delivered $ 16 million to the channel for covid-19 slogans in India, and we followed the same approach to the Indian government through UNICEF during Covid-19, including $ 15 million in the Indian government.”
“Anyone named donor or community can see where the money is going. It appears in the result. 96% of medical workers say that the vaccine was reduced by 83% because of the improvement of treatment and the stable refrigeration.”
Source: Given block annual report
According to The Giving Block’s report, BFI shows the rapid growth of cryptocurrency charity, and there is a $ 90 million donation representing 9%of all cryptocurrency donations traced worldwide in 2024.
This survivor matches the possibility of deformation of digital donations to increase the transparency and efficiency of the fund assignment. According to the same report, more than 70% of the top 100 charity -based charity organizations are now accepted.
relevant: Cryptation donation exceeded $ 1B in 2024 -Report
Global charity organizations are accepting encryption donations.
The charity is gradually accepting CRYPTOCURRENCY donations because the transparency of the blockchain leaders can openly track donations and reduce the transaction fee of charity transactions compared to the FIAT -based donation.
In addition to the United States, charitable groups around the world accept encryption donations, including large -scale charity groups such as the British Red Cross and the Singapore Red Cross. Save The Children, the world’s best non -profit organization, has received $ 8.6 million for encryption donations.
Source: Save the children Website
As the adoption of cryptocurrency increases, we need a safe and observed solution for non -profit organizations. The given block announced a partnership with Gemini on March 13, which believes that artificial intelligence can help to make the charity’s encryption more safer.
Encryption donations are likely to improve charity sales. According to Fast Company’s reports, non -profit organizations with strong performance in transparency have increased the average donation by 53% in the following year compared to these unprecedented organizations. As the donation transparency is improved, the will of the donor also increases.
As the encryption market continues to grow, more and more encryption donations are expected to be accepted in more organizations. Giving Block estimates that the 2035 encryption donation is about $ 89.27 billion.
https://www.youtube.com/watch?v=Fykm3ka_lzu
Additional report of ZOLTAN VARDAI.
magazine: Encryption is changing the way humanitarian agencies provide aid and services.