How It Works

Question 1

What is the COVID-19 Blockchain Fund?

Answer

The COVID-19 Blockchain Fund is a campaign to bring the blockchain community together and combat the coronavirus. The global community is invited to donate through cryptocurrency in this fund. A donor can broadly choose which geography she or he wants to support and track it on the blockchain. Further, cryptocurrencies will be converted into fiat currencies of the respective country and wire transfer to the national relief fund.

Question 2

Where is this fund invested and converted to fiat currencies?

Answer

The project and wallets are owned by 'Shankara Advisory' and assisted by company advisors.The company is incorporated in Amsterdam, Netherlands and has a primary focus on ‘trading and investing’ cryptocurrencies. KVK number: 75936224 VAT number: NL535564995B01. Currently, we have active and 100% verified wallet addresses from global exchanges.

Question 3

Is there a minimum donation?

Answer

No, in principle there is no minimum donation. However, for the exchange in India with Tether cryptocurrency, a minimum of 5 USD has been set. A minimum of 10 USD is encouraged, as there might be some limitations due to the exchange fee and cost converting from cryptocurrency to fiat currency.

Question 4

Is there any way to keep track of the donations? How can I stay updated on your work?

Answer

We record all transaction on the blockchain, making the process transparent and reliable. You can stay updated on our work by signing up to get updates by email and following us on Twitter, Facebook or the Telegram channel.

Question 5

Why should I support the Blockchain Fund? Why not the National Relief Funds?

Answer

Cryptocurrency by default on its blockchain-enabled platform provides transparent and immutable records of donations. We only accept the donation in cryptocurrencies for building trust and transparency within the community. By supporting, you are not only building solidarity; but also the adoption for cryptocurrencies. Our Blockchain Fund is 100% trackable and transparent. Ultimately, we will be supporting the most reliable public and national funds. Please share and help spread the word for us! Everything counts, as the coronavirus is not a short term pandemic.

Question 6

How much COVID-19 Blockchain Fund keeps to cover its operational costs?

Answer

We deduct 5% of total donations received by the fund, to cover the exchange fee (cryptocurrency to fiat currency) and the cost of operating the system. For every donation of $ 1, $ 0.95 will transfer to the beneficiary.

Question 7

Where is COVID-19 Blockchain Fund based and operated?

Answer

Our office is currently based in Amsterdam, Netherlands. Currently, we are working for Europe, India, the USA, Syria, lebanon, African Union and South Korea. We chose to work in these countries, as they are the most affected. For example, India has a large population that is living in extreme poverty and yet is reachable through global cryptocurrency exchanges and blockchain-based payment systems. We will consider raising funds for additional countries when we can increase our presence and outreach within the cryptocurrency community.

Question 8

How can I contribute?

Answer

Welcome! Your interest is much appreciated. Kindly follow these steps. 1. Choose the geography you would like to support. For example, you could contribute to the USA and at the 'USA COVID-19 fund' wallet addresses.
2. Send the chosen cryptocurrency into the respective wallet address only.
3. For further targeted support, in an email or wallet remark; kindly mention a ‘City' or ‘State'. For example, 'New York' could be a remark, for the USA targeted donation. Please mention your transaction ID in the email.