How It Works
Frequently asked questions
What is the COVID-19 Blockchain Fund?
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.
Where is this fund invested and converted to fiat currencies?
Is there a minimum donation?
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.
Is there any way to keep track of the donations? How can I stay updated on your work?
Why should I support the Blockchain Fund? Why not the National Relief Funds?
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.
How much COVID-19 Blockchain Fund keeps to cover its operational costs?
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.
Where is COVID-19 Blockchain Fund based and operated?
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.
How can I contribute?
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.