Italy’s Red Cross launches BTC coronavirus fundraiser

16 Mar 2020

Italy’s Red Cross and the Colli Albani Committee are increasing donations from Bitcoin and other cryptocurrencies to combat the coronavirus pandemic in the country, with support from Helperbit.

Funds raised from this campaign will allegedly be utilised to set up a second-level advanced medical station for pre-triage of coronavirus cases in Italy, Coin Telegraph reports, and is predicted to reach a target of €10,000 to purchase the required medical equipment for the initiative.

The rest of the funds will be used to cover medical staff fees associated with the project.

Colli Albani Committee president, Bruno Pietrosanti said they need to relieve the pressure on hospitals due to the rise in cases and reduced places remaining in Italy’s hospitals.

Blockchain startup Pietrosanti, working alongside Helperbit stated: "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."

Furthermore, the campaign is supported by a fintech startup, Young Srl, that operates in the crypto sector to support community projects, and non-profit organisation Blockchain Education Network Italy.

Andrea Ferrero, CEO of Young SRL, talked about the use of blockchain in this fundraiser: "I strongly believe that blockchain technology is more effective and transparent to support this type of initiative. Young is a company that aims to create or exploit innovative models to improve existing procedures and we will always be at the forefront in supporting charitable projects, such as the Red Cross one." 

Representative from Blockchain Education Network Italy, Emiliano Palermo showed the importance of such platforms, which offer “transparency” in donations.

At the time of writing there have been more than 1,800 fatalities in Italy from coronavirus.