ⓘ Featured image: COVID-19 Blockchain Fund co-founder; Rishabh Kapoor (L) and Nischal Arvind Singh

It has been close to a quarter month of the period since WHO declared Coronavirus as a pandemic and a Public Health Emergency of International Concern. Amid the outbreak and the lockdowns implemented by a number of governments across the world to stop the pandemic spread – new challenges have arisen.

Fortunately, a number of NGOs and trusts are building funds to accumulate means of help and support for the needy across the world. Apart from this, a number of corporates, business personalities, celebrities and philanthropists donated for Coronavirus relief including Ratan TATA, Azim Premji, Jack Dorsey, Sarah Blakely, Akshay Kumar, Salman Khan, Bill Gates, and Abdul Rahim Al Zarooni (Chairman and board member of the Zarooni Group, UAE) – just to name a few.

Notably, there are certain blockchain enthusiasts who have come up with a fair idea of leveraging cryptocurrency as a means of crowdsourcing to fight COVID-19. These include a number of NGOs, entrepreneurs and firms. One of such blockchain or crypto-based COVID-19 funds is the COVID 19 Blockchain Fund that aims to support the most affected nations. The fund has a dual mission. Firstly, to set a real-world example of using Cryptocurrency for tackling a global real-world problem and secondly, encouraging mass adoption of cryptocurrencies and blockchain.

The initiative has been started by Amsterdam-based entrepreneurs Nischal Arvind Singh and Rishabh Kapoor to assist the citizens of the USA, South Korea, European Union, UK (NHS supported), India, Lebanon, Syria, African regions and more. The company encourages crypto owners to join the movement and donate in cryptocurrency to help the needy across the world amid the pandemic situation. The fund is currently accepting donations in Bitcoin, Ethereum, Ripple, Tether and Bitcoin Cash on the global level.

In a conversation to LAFFAZ about the COVID 19 Blockchain Fund, Nischal said,

“Overall, the COVID 19 Blockchain Fund aims to support the widely accepted economic damage, occurring through and after the COVID-19 crisis. It is estimated by various experts that the impact of the pandemic will last between six months to multiple years. With millions of people unemployed and in need of urgent support, we hope that this amalgamation of Blockchain technology, cryptocurrency and the general community will come together as a global avenue to suppress the impact of the pandemic.”

Adding to which, Rishabh said,

“We’ve started this movement to support every nation on the planet in the coming years, considering the fact that the employment rate at present is larger than ever, surpassing the ‘Great Depression’ of 1929. Your support is critical in order to reach diversified stakeholders. From national funds to local relief funds and diverse support groups; we hope to create a trusted platform to serve everyone.”

Six months down the line, the fund has planned to make a concentrated effort in reaching out to major entities within the cryptocurrency community; especially the established companies. And will also conduct a number of fundraising campaigns and events around physical items and digital performances. On top of that, the COVID 19 Blockchain Fund also aims to collaborate on last-mile financial empowerment of actors on the ground.

“The ‘COVID-19 Blockchain Fund’, encourages the crypto community to actively participate in a time of global crisis, especially from bounty hunters. Kindly spread the word among the crypto community, ICO funded blockchain startups, Cryptocurrency exchanges and OTC providers; to come forward and participate as a ‘Corporate Donor’ in the novel cause.” said Nischal to LAFFAZ

In the coming years, in accordance with the use cases, there is a possibility of launching a token based on the assets generated by the fund and given to people for generating passive income, in testing times.

“We would hope to encourage using this token for purchasing goods and services locally, for supporting its financial value. Also, we are looking to launch entertainment-based platforms, for engaging people and supporting the fund-raising process. Finally, we are always open to new ideas and feedback from the community, along with local ambassadors supporting the mission globally.” Nischal told LAFFAZ

To donate or have more information, visit the official homepage of COVID 19 Blockchain Fund