Blockchain for Impact, a donation fund for Sandeep Nailwail, co-founder of Polygon, is over $90 million for healthcare innovation. The BFI has also pledged an additional $200 million for future initiatives.
Blockchain for Impact has allocated more than $90 million in funding for the healthcare sector, biomedical research and climate resistance innovation, according to a press release sent to Crypto.News. Not only that, the organization has pledged an additional $200 million for future initiatives.
At this time, BFI is prioritizing funding healthcare startups, biomedical research and other efforts that are working to strengthen public health systems through blockchain philanthropy. These initiatives include the Samarth Medical Innovation Program, the European Biomedical Exchange Program, and BFI’s proprietary Biome Virtual Network extension.
The BFI-Biome Virtual Network program is the organization’s first program aimed at promoting biomedical innovation through growing virtual networks. Over the next three years, Biome will support over 46 startups through Kick-Starter initiatives, fellowships and innovator support. Additionally, we will partner with over 15 medical universities to drive 50 research projects involving over 600 researchers.
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The founder of Sandeep Nailwal, co-founder of BFI and Polygon (Matic), said the organization’s mission is to create a scalable, transparent on-chain system that can further advance healthcare initiatives for future generations.
“By combining blockchain transparency with joint funding, we ensure that every dollar will win and maximize the impact,” Nailwal said.
Polygon’s co-founders are known for launching the Indian Covid Relief Fund, which has won donations from major cryptographic figures such as Ethereum (ETH) co-founder Vitalik Buterin and former Coinbase CTO Balaji Srinivasan.
A recent report from Crypto’s charity gift block found that over $1 billion in crypto assets have been donated to charities in 2024 alone. The report said the average crypto donation was $10,978, an increase of over 386% compared to the 2023 average.
More recently, UAE-based Crypto Firm Fasset has collaborated with Islamic Donation Partners of Indonesia’s charity platform Kitabisa to promote religious contributions paid through cryptocurrency, particularly at USDT (USDT).
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