Klever
  • Home
  • Global
  • Exchange
  • Wallet
  • Education
  • NFTs
  • Announcements
  • Opinions
  • Marketcap
No Result
View All Result
  • Login
  • Register
Klever News
  • Home
  • Global
  • Exchange
  • Wallet
  • Education
  • NFTs
  • Announcements
  • Opinions
  • Marketcap
No Result
View All Result
Klever News
Home Global

$1 Billion Raised To India Covid Crypto Relief Fund

by Harish Kumar
June 7, 2021
in Global
Reading Time: 4 mins read
3k
A A
0
Share on FacebookShare on Twitter

India’s Covid crypto relief campaign raised over $1 billion to date, proving how cryptocurrencies can bring transparency to philanthropy and have an immediate real-world impact on the ground.

Indian crypto entrepreneurs have come together to do their part as India struggles to contain the coronavirus. With impressive billion-dollar results.


Leading the crypto drive to help Covid-19 patients is India’s Crypto Covid Relief Fund. The donations they receive are being used to provide healthcare and essential needs to those fighting Covid-19. The footwork for the fund has been laid down by some of the most trusted names in the cryptocurrency ecosystem.

Sandeep Nailwal, co-founder of Polygon (formerly Matic), which aims to bring significantly improved scaling solution to Ethereum using an adapted version of Plasma with PoS-based side chains, took to Twitter on April 24 announcing that he is setting up a Crypto Covid relief fund.

You might also like

K5: a bright future ahead with the community being the biggest inspiration 

K5: a bright future ahead with the community being the biggest inspiration 

February 3, 2023
7.3k
Klever is your go-to DeFi solution 

Klever is your go-to DeFi solution 

February 1, 2023
7.3k

Naiwal called on the global cryptocurrency community to assist while he has taken responsibility for transparency, fund usage and regulatory compliance.

The relief fund accepts donations in several different cryptocurrencies including Bitcoin, Ethereum and ERC20 tokens, Tron and TRC20 tokens , Binance Smart Chain (BNB), Ripple, Cosmos, Solana, Litecoin, Tezos and Doge.

To keep record of the contributors, Nailwal has shared a Google Form. The form has basic personal info such as name, contact details (email, WhatsApp, Telegram, Twitter, etc), transaction link.

Naliwal also reached out to India’s top crypto exchanges WazirX, CoinDCX and Bitbns to convert the donations to fiat in order to be able to help people more efficiently on the ground. As more people joined the initiative, a group on Discord was created, workflow was organised on Airtable, and a transparency dashboard was created.


A bank account with digital bank FV Bank was also created and talks for FCRA approvals were finalised. The Foreign Contribution (Regulation) Act (FCRA) regulates acceptance and utilisation of foreign funds to prohibit activities deemed negative or detrimental to national interests.

India’s top chartered accountant in crypto DeepakV (@Vacpad) is leading the regulatory and audit part of India’s crypto covid relief campaign.

Top contributors to this campaign from the global crypto communities are Vitalik Buterin, Justin Sun and Balaji among many others, as cricket stars donating through crypto include Brett Lee and Pat Cummins.

On April 30, the fund transferred $999,900 or Rs 7.4 crore to ACT Grants that aims to provide oxygen for everyone with over 50,000 oxygen concentrators across the country.

The fund was also used to donate oxygen cylinders. On May 5, the fund volunteers came to know of the Operation Samudra Setu-II, under which the Indian Navy was carrying 1,000 oxygen cylinders donated by Kuwaiti government. There was still space for 3,000 more in the ship. So, the fund donated an additional amount to fill those cylinders and many NGO’s and foundations across different Indian states has received the grants under Crypto covid relief campaign

Indian crypto entrepreneurs and global crypto communities have shown the power of crypto philanthropy to the entire world through India’s Covid Crypto Relief fund amid India’s battle with the second wave of #COVID19 by raising  $1.039 billion till date.

The development shows the true potential blockchain technology has in transforming the global charity sector and methodology, while having an immediate and real-world positive impact on the ground. 


Sincerely,

Harish Kumar

Biotech Engineer & Researcher as well as Klever’s Customer Support Agent in India

Previous Post

Market Update: KLV up +3.61% to $0.0687, BTC at $36,542 (+1.47%), ETH at $2,830 (+4.15%)

Next Post

KLV To Be Listed on SimpleSwap with 300+ Trading Pairs

Harish Kumar

Harish Kumar

I'm an India-based writer covering Blockchain Technology, Web 3.0, and Cryptocurrency regulation. Enterprise adoption of cryptocurrencies, and more. Follow me on Twitter @harishvibhuthi or get in touch at harish@klever.io 

Related Stories

K5: a bright future ahead with the community being the biggest inspiration 

K5: a bright future ahead with the community being the biggest inspiration 

by Maluh Bastos
February 3, 2023
0
7.3k

Klever K5 Wallet’s launch has been the buzz in the last few days. The new and improved Klever Wallet app...

Klever is your go-to DeFi solution 

Klever is your go-to DeFi solution 

by Maluh Bastos
February 1, 2023
0
7.3k

The DeFi world is growing fast. Therefore, having a trustable and effective platform to navigate this universe can help users...

Time to start using K5: learn how to migrate to the new Klever wallet app version

Time to start using K5: learn how to migrate to the new Klever wallet app version

by Maluh Bastos
January 31, 2023
0
7.3k

KleverChain’s launch in 2022 was one of the biggest accomplishments for the Klever Ecosystem.  Klever’s very own blockchain is bringing...

Use cryptocurrency and blockchain for transparent and secure voting

Use cryptocurrency and blockchain for transparent and secure voting

by Warren Manuel
January 30, 2023
0
7.3k

The integrity of democratic voting systems is crucial for the functioning of a healthy democracy. In recent years, there has...

Next Post

KLV To Be Listed on SimpleSwap with 300+ Trading Pairs

El Salvador - The First Bitcoin Nation?

Download Klever Wallet Download Klever Wallet Download Klever Wallet
ADVERTISEMENT

Recommended

Ethereum

Coin of the Week: Ethereum (ETH)

November 14, 2021
7.5k
Tron (TRX)

Coin of the Week: Tron (TRX)

May 19, 2022
7.5k

Popular Story

  • Stand a chance to win your share of 10,000 KLV

    Stand a chance to win your share of 10,000 KLV

    8335 shares
    Share 3334 Tweet 2084
  • Test drive Klever Wallet, K5 and Win 1000 KLV & 1 KFI

    7021 shares
    Share 2808 Tweet 1755
  • Bitcoin battles back from record losses to $21,000

    5914 shares
    Share 2366 Tweet 1479
  • Klever showcases its blockchain ecosystem on a Time Square billboard

    5358 shares
    Share 2143 Tweet 1340
  • K5 adds new blockchain and KleverSafe support in the latest Android version

    5070 shares
    Share 2028 Tweet 1268

Follow us on Twitter

Klever News

Join the Klever community
Growing together we are stronger.
Be sure to follow us on social media to stay up to date.

Categories

  • Announcements
  • Coin of the Week
  • Education
  • Exchange
  • Games
  • Global
  • Hardware Wallet
  • Market Updates
  • NFTs
  • Opinions
  • Sponsored
  • Wallet
Download Klever Wallet Download Klever Wallet Download Klever Wallet
ADVERTISEMENT

Recent News

K5: a bright future ahead with the community being the biggest inspiration 

K5: a bright future ahead with the community being the biggest inspiration 

February 3, 2023
Klever is your go-to DeFi solution 

Klever is your go-to DeFi solution 

February 1, 2023
  • Sponsored Content
  • Advertise
  • Contact Us
  • RSS Feed

© 2022 Klever News - Premium Crypto news & insights by Klever Finance.

  • Login
  • Sign Up
No Result
View All Result
  • Home
  • Global
  • Exchange
  • Wallet
  • Education
  • NFTs
  • Announcements
  • Opinions
  • Marketcap

Welcome Back!

Sign In with Google
OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Sign Up with Google
OR

Fill the forms below to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00
Go to mobile version