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Donation of Rs. 4.5 Crores for COVID-19 relief in india Ethereum co-founder

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Vandana Mrigwani

CBW -External Analyst

INDIA

May, 04 2021

May, 04 2021

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Vitalik Buterin, the co-founder of Ethereum posted proof of transfer of 100 ETH and 100 MKR. Its value is approximately $606,110 (roughly Rs. 4.5 crores), for utilization in COVID-19 relief in India. 

 

Ethereum, the open-source Blockchain software initiated in 2014, is used to build agreements on the Blockchain. It has in recent times been in the news a lot as of its use in the making and transferring of non-fungible tokens (NFTs). It has digital breakables that can be uniquely recognized and held by individuals. 

 

Ethereum has a currency named Ether that is the second-largest cryptocurrency in the world after Bitcoin. Given the scale and prospect of the tragedy that coronavirus is affecting India, various relief efforts have sprung into action.  

 

It supports in ranging from individuals, giving their time and serving people to managing and finding resources. It helps companies in donating money for oxygen and other emergency supplies. 

 

Additional Information: 

 

On his Twitter account, the technology founder announced a pair of links to Ether Scan, an independent platform for sharing Blockchain data built for Ethereum, which displayed a transaction of 100 MKR (Maker) and 100 ETHS (Ether), that hold a collective market worth of over $600,000, or over Rs. 4.5 crores. 

 

Although Buterin looks to have made this donation in his private capacity, the Ethereum Foundation has also made significant donations in the past. 

 

Previous year, the foundation donated 1,125 ETHS to UNICEF which was at the time deserving $262,000 (close to Rs. 1.9 crores at the time). 

 

Before that, in 2019, the foundation donated around $150,000 (approximately Rs. 1 crore at the time) in Ethem and Bitcoin to UNICEF's research crypto fund. 

 

One such receiver is the Indian start-up StaTwig, which is presently working on a project defined on its website as a Vaccine Ledger, which can be used for unit-level traceability of vaccines, the discovery of expired products, cold chain observing and more. 


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Vandana Mrigwani

CBW - External Analyst

INDIA

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