Vitalik Buterin, the co-founder of Ethereum, has teamed up with India-based crypto fund Crypto Relief and Sandeep Nailwal, the co-founder of Polygon, to contribute $100 million towards COVID-19 research and the development of medical infrastructure in India.
This philanthropic endeavor aims to address the ongoing pandemic and strengthen the healthcare system in the country.
Under this initiative, Crypto Relief will provide $90 million in USD Coin (USDC) to Buterin and Nailwal, while Buterin will contribute an additional $10 million from his personal funds.
The funds will be distributed with the assistance of Buterin and Nailwal, ensuring their effective utilization in the designated areas.
Addressing the pressing need for long-term solutions to combat COVID-19 and future pandemics, Buterin emphasized the importance of a global approach that combines scientific innovation and practical implementation. The research supported by this donation will primarily concentrate on two key areas.
The first focus area is the investigation of COVID-19 airborne transmission, aiming to enhance medical equipment and infrastructure. This includes improvements in ventilation systems, HEPA filtering, and the exploration of experimental technologies like UVC irradiation.
The second area of research will be dedicated to understanding and managing the long-term effects of COVID-19, commonly referred to as “Long COVID.” Buterin expressed the significance of this aspect, acknowledging the substantial number of individuals experiencing persistent symptoms even after recovery.
To ensure transparent management of the funds, Buterin disclosed that the $100 million will be disbursed to a Gnosis Safe wallet with a specific contract address.
The first donation of $100 million, initially made in the form of Shiba Inu (SHIB) tokens, was deployed by Buterin in late January 2022 or shortly thereafter.