Polygon co-founder, Sandeep Nailwail’s donation fund, Blockchain For Impact, has exceeded $90 million in funding for healthcare innovation. BFI has also committed an additional $200 million for upcoming projects.
As per a press release shared with crypto.news, Blockchain For Impact has allocated over $90 million towards advancements in healthcare, biomedical research, and climate resilience. Moreover, the organization has pledged an extra $200 million for future endeavors.
Currently, BFI is focusing on supporting healthcare startups, biomedical research, and initiatives that aim to enhance the public health system through blockchain philanthropy. Some of these projects include the Samarth Medical Innovation Program, the European Biomedical Exchange Program, and BFI’s BIOME Virtual Network Expansion.
The BFI-BIOME Virtual Network Program, the organization’s inaugural initiative, is designed to promote biomedical innovation through an expanding virtual network. Over the next three years, BIOME will assist more than 46 startup companies through kick-starter programs, fellowships, and innovator support. Additionally, it will collaborate with over 15 medical colleges to drive 50 research projects involving 600+ researchers.
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Founder of BFI and Polygon (MATIC) co-founder, Sandeep Nailwal, expressed that the organization’s goal is to develop scalable and transparent on-chain systems to advance healthcare initiatives for future generations.
“By leveraging blockchain’s transparency and collaborative funding, we ensure that every dollar is utilized efficiently for maximum impact,” Nailwal stated.
The Polygon co-founder gained recognition for initiating a COVID Relief Fund for India, which received contributions from prominent figures in the crypto space like Ethereum (ETH) co-founder Vitalik Buterin and former CTO of Coinbase (BASE) Balaji Srinivasan.
According to a recent report by The Giving Block on crypto philanthropy, over $1 billion in crypto assets were donated to charities in 2024 alone. The report highlighted that the average crypto donation amounted to $10,978, marking a 386% increase compared to 2023.
Most recently, UAE-based crypto firm Fasset collaborated with Indonesian charity platform Kitabisa’s Islamic donation partner to facilitate crypto donations for religious purposes, specifically in USDT (USDT).
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