Italian Red Cross Launches Bitcoin Fundraiser to Combat Coronavirus

Published at: March 14, 2020

The Italian Red Cross and the Colli Albani Committee are raising donations Bitcoin and other cryptocurrencies to fight the country's coronavirus pandemic with the support of Helperbit, as announced on March 12.

Goals of the new campaign

Proceeds from the campaign will reportedly be used to set up a second-level advanced medical post for pre-triage of COVID-19 cases in the country, and it is expected to reach a goal of €10,000 to buy the necessary medical equipment for the infrastructure. 

The remaining funds will be used to cover the fees of the medical staff that will be involved in the project.

Bruno Pietrosanti, president of the Colli Albani Committee, said that they need to ease the pressure on hospitalizations due to the increase in infected patients and the reduced number of places available in Italian hospitals:

On carrying out the initiative alongside Helperbit, a blockchain startup that offers a platform for charities, Pietrosanti added the following:

"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 supporting the fundraising campaign by the Red Cross

The campaign is also supported by Young Srl, a Fintech startup that operates in the cryptocurrency sector to support community initiatives, and by Blockchain Education Network Italy, a non-profit organization that divulges information about Bitcoin and blockchain in Italian territory.

Andrea Ferrero, CEO of Young SRL, commented on 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." 

Emiliano Palermo, a representative from Blockchain Education Network Italy, highlighted the importance of these platforms, which offer "transparency" in donations, amid the emergency in the country.

Current situation in Italy on coronavirus cases

As of press time, the death toll from coronavirus in Italy has passed 1,200, with more than 17,600 cases reported, according to official data.

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Blockchain
Bitcoin
Cryptocurrencies
Coronavirus
Italy
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