Ethereum co-founder, Vitalik Buterin, has joined forces with India-based crypto fund Crypto Relief and Polygon co-founder Sandeep Nailwal to contribute $100 million towards COVID-19 research and medical infrastructure development in India.
In a significant move, Buterin and Nailwal will receive $90 million in USD Coin (USDC) from Crypto Relief, while Buterin himself will contribute an additional $10 million.
Collaboration for COVID-19 Relief
Vitalik Buterin and Sandeep Nailwal have come together to support COVID-19 research and medical infrastructure in India.
Crypto Relief, a community-run fund in India, will transfer $90 million in USD Coin (USDC) to Buterin, ensuring compliance with local regulations.
Buterin, in addition to his collaboration, will personally contribute $10 million towards the cause. Together, they will facilitate the distribution of the funds to make a substantial impact.
Focus on COVID-19 Research
Buterin emphasized the need for a global solution to combat not only the current COVID-19 pandemic but also future pandemics.
He believes that a combination of frontier scientific innovation and on-the-ground implementation is crucial in mitigating the risks associated with these infectious diseases. The allocated funds will primarily support COVID-19 research in two key areas.
Addressing Airborne Transmission
A significant portion of the research will concentrate on tackling COVID-19 airborne transmission by enhancing medical equipment.
This includes improving ventilation systems, implementing HEPA filtering, and exploring experimental technologies like UVC irradiation.
Buterin recognizes the importance of advancing these measures to minimize the spread of the virus and protect public health.
Understanding Long COVID
The second research area focuses on Long COVID, a condition where individuals experience persistent symptoms long after the initial infection.
Buterin highlights the urgent need to address the long-term effects of COVID-19, as a substantial number of individuals continue to face such symptoms.
By dedicating resources to Long COVID research, they aim to develop a deeper understanding of the condition and identify effective treatments and interventions.
Deployment and Initial Donation
To manage the allocated funds, a Gnosis Safe wallet will be utilized, with a specific contract address provided by Buterin.
The first $100 million donation was initially deployed by Buterin in late January 2022, primarily in the form of Shiba Inu (SHIB) tokens. Since then, efforts have been focused on leveraging the funds to provide emergency humanitarian relief and further COVID-19 research initiatives.
