The prevailing Coronavirus crisis is forcing global charities and humanitarian organizations to look towards crypto for better fundraising. Recently, Red Cross Italy, a subsidiary of Red Cross International based in Geneva has announced that it is undergoing a Bitcoin donation drive for raising crucial funds for relief in the country. Italy remains one of the hardest hit countries in the world after China and has been struggling to take care of the increasing number of sick and even dead victims of the deadly virus.
The fundraiser is being held by a partnership of Red Cross Italia and Colli Albani Committee. The proceeds from the activity will be used to erect a second-level trial facility for the Covid-19 virus. A target of 10,000 EUR has been set by the organizers for this event.
Bruno Pietrosanti, president of the Colli Albani Committee said that the fundraising and the resulting medical complex is needed to reduce the burdens on already heavily crowded health facilities around the world. According to the latest count, more than 25,000 cases of Coronavirus have been detected in the country and over 1400 people have already died due to complications resulting from the deadly disease.
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 are also stepping up their efforts to collect Bitcoin funds. Young Srl, a blockchain fintech firm from France and Blockchain Education Network, a non-profit blockchain organization are supporting the efforts by Red Cross Italy. Emiliano Palermo, the head of Blockchain Education Network believes that Bitcoin has higher transparency overall and will help in overcoming the trust barrier people face while donating. Donations to the public address can be tracked and thus the organization can later be held accountable for the usage of funds. This will in turn increase the reputation of crypto and Bitcoin in particular as a viable alternative for sending charity funds to an organization.
There are considerable number of Bitcoin holders in Italy and Europe in general and are requested to contribute to the crucial project. Italy remains one of the worst-hit countries and if the disease is not controlled within the country by rapid testing and flattening of the curve, wide-ranging ramifications may be observed in Europe and even around the world.