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Italian Red Cross Launches Bitcoin Fundraiser in order to combat Coronavirus

The Italian Red Cross and the Colli Albani Committee are raising donations through Cryptocurrencies, namely Bitcoin, to help fight the country's Coronavirus (COVID-19) pandemic.

Proceeds from the campaign will reportedly be used to set up a second-level advanced medical post for pre-triage of COVID-19 cases across the country. It is assumed to reach its goal of 10,000EUR to buy required medical equipment and infrastructure. The remaining funds will be used to help cover fees for the medical staff involved in the project.

President of the Colli Albani Committee, Bruno Pietrosanti, said that they need to ease the pressure on hospitalisations due to the increase in infected patients, and the reduced number of places available in Italian hospitals for sufferers of other issues.

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

"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."

The campaign is also supported by Young Srl, a Fintech startup that engages in the cryptocurrency sector to support community actions, and by Blockchain Education Network Italy, a non-profit organization that reveals 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.

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