Thomas Daniels
Sandeep Nailwal, a co-founder of Polygon, has invested over $90 million in healthcare innovation, biomedical research, and climate resilience through his charitable project, Blockchain For Impact (BFI). BFI has also pledged an additional $200 million for upcoming projects that will use blockchain-based philanthropy to change public health.
BFI is presently concentrated on funding healthcare businesses, leading medical research, and bolstering international health systems, according a press announcement provided to crypto.news. The European Biomedical Exchange Program, the Samarth Medical Innovation Program, and the growth of BFI’s BIOME Virtual Network are important projects.
BFI’s main program, the BIOME Virtual Network Program, aims to promote biomedical innovation by creating a collaborative, decentralized ecosystem. BIOME intends to provide direct funding, fellowships, and accelerator programs to 46 startups over the course of the following three years. Additionally, the program will support 50 research projects with over 600 researchers by collaborating with over 15 medical institutions.
Sandeep Nailwal underlined BFI’s goal of using blockchain technology to create scalable, transparent finance solutions that have the greatest possible impact on the healthcare industry. “We’re making sure that every dollar is accounted for and maximized for impact by combining collaborative funding with blockchain’s transparency,” Nailwal said.
Prominent cryptocurrency professionals, such as Ethereum co-founder Vitalik Buterin and former Coinbase CTO Balaji Srinivasan, have donated to Nailwal, who is well-known for starting the COVID Relief Fund for India.
With more than $1 billion in digital assets contributed to charity causes in 2024, crypto philanthropy has increased, according to a recent analysis from The Giving Block. According to the survey, the average cryptocurrency gift increased by 386% from 2023 to $10,978.
UAE-based cryptocurrency company Fasset recently teamed up with Indonesian platform Kitabisa’s Islamic donation arm to enable religious donations in cryptocurrency, specifically through USDT (Tether), as part of a larger trend of blockchain-driven charitable giving.
