Italian Red Cross Announces Bitcoin Donations to Battle Coronavirus

The Italian Red Cross and the Coili Albani Committee are raising funds in Bitcoin and other cryptocurrencies to battle the country’s coronavirus epidemic with the help of Helperbit, according to March 12 announcement.

Tasks of the new campaign

Funds raised from the campaign will reportedly be leveraged for setting up a second-level advanced medical post for pre-triage of coronavirus cases in Italy, and it expects to accumulate €10,000 to purchase the necessary medical equipment for the infrastructure.

The remaining funds will be used to pay the medical staff which will work for the project.

Bruno Pietrosanti, president of the Colli Albani Committee, explained that the country needs to decrease the amount of hospitalizations as the number of infected patients grows, which leads to shortage of places available in Italian hospitals.

Speaking about running the initiative in cooperation with Helperbit, a blockchain firm which provides a platform for charities, Pietrosanti 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.”

Other organizations support the fundraising initiative by the Red Cross

The project is also supported by Young SRL, a fintech company which works in the cryptocurrency space to support community initiatives, and by Blockchain Education Network Italy, a non-profit organization which promotes blockchain technology and Bitcoin in Italy.

Andrea Ferrero, CEO of Young SRL, spoke about the use of blockchain in the fundraiser:

“I strongly believe that blockchain technology is more effective and transparent to support this type of initiative. Young is a company that aims to create or exploit innovative models to improve existing procedures and we will always be at the forefront in supporting charitable projects, such as the Red Cross one.”

Emiliano Palermo, a representative for Blockchain Education Network Italy, stressed on the crucial role of these platforms which allow to maintain “transparency” in donations, amid the emergency in the country.

Coronavirus in Italy: current situation

Reports indicate, that the death toll from coronavirus in Italy has surpassed 1,200, and more than 17,600 cases were recorded.