Italy Turns To Bitcoin to Fight Coronavirus As EthCC Paris Attendees Contract Covid-19

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The Colli Albani Committee and the Italian Red Cross are now raising donations in Bitcoin and other cryptos to curb the country’s coronavirus pandemic. They are supported by Helperbit, as announced on March 12.

Aims of the campaign

Funds acquired from this campaign will supposedly be utilized in the set up of a second-level advanced medical post to cater to the pre-triage of COVID-19 cases in the country. The kitty is projected to reach a target of €10,000 to purchase the essential medical equipment for the infrastructure.

The funds that remain will be used to cater to the fees of the medical staff that will participate in the project. The president of the Colli Albani Committee, Bruno Pietrosanti, said that they intend to minimize the pressure on hospitalizations.

The committee turned to this strategy because of the rapid increase in the number of infected patients and the reduced number of places available in various Italian hospitals. These developments have presented challenges for experts and authorities as they strive to curb the virus menace.

While commenting about partnering with Helperbit blockchain startup that provides a platform for all genuine charities, Pietrosanti said:

“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.”

Other organizations involved in the campaign

A Fintech startup that operates in the crypto industry to support community initiatives, Young Srl supports this campaign. Also, Blockchain Education Network Italy, which is a non-profit organization that publishes and broadcasts information about blockchain and Bitcoin in Italian territory, is participating in this worthy initiative.

The CEO of Young SRL, Andrea Ferrero, commented about the use of a blockchain platform 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.”

A representative from the Blockchain Education Network Italy, Emiliano Palermo, explained the importance of these platforms that provide total transparency in donations during the emergency in the country. The death toll from the coronavirus pandemic in Italy is rising steeply and has already passed 1,200, currently with over 17,600 cases reported according to official data.

EthCC Paris attendees encouraged to get tested

As Italy languishes in the aftermath of the spread of coronavirus, other European countries are also struggling. France is not spared as it is evident from the increasing number of COVID-19 patients who had attended the Ethereum Community Conference (EthCC) conference in Paris.

Currently, seven EthCC attendees are confirmed to have contracted the virus, which highlights the pressing need for all the attendees of this event to go for testing. The EthCC conference was held between March 3 and March 5 several days before President Macron’s government banned all public gatherings of over 1,000 people in France.

TorusLabs co-founder, Zhen Yu Yong, was the first confirmed case among those who attended the EthCC conference. On March 11, he tweeted that he had been diagnosed with coronavirus.

Zhen requested all who had interacted with him at the EthCC conference and the ETHLondon hackathon at the end of last month to get tested. He said:

“I fell ill yesterday and have just been diagnosed with #COVID2019. Everybody who had close contact @EthCC_ or @ETHLondon with me should take extra precautions and/or get tested.”

Seven confirmed EthCC cases on March 15

Six additional cases were confirmed among those who attended the EthCC conference on March 14. The infected people include investment bank Werner Jacob, independent Afri Shoedon, Atpar’s Johannes Pfeffer, the author of the ERC-777 token standard Jacques Dafflon, Gnosis’ Marco, and a person with an undisclosed identity.

Companies compelled to announce coronavirus mitigation strategies

The New York Department of Financial Services (NYDFS), on March 10, sent letters to every regulated institution operating with cryptos requesting them to hand over comprehensive ‘preparedness plans’ for risks linked to the coronavirus epidemic. The regulator said:

“It is critical that each regulated entity establish plans to address how it will manage the effects of the outbreak and assess disruptions and other risks to its services and operations.”

Crypto companies must notify the NYDFS when their positive net worth falls below a needed threshold above their minimum stipulated capitalization, according to the letter. The pandemic outbreak has caused many crypto conferences to get canceled or postponed. Even the DC Blockchain Summit, the Paris Blockchain Week, and Bitcoin 2020 were not spared.

Several other conferences have migrated online, trying to survive through the pandemic. ConsenSys 2020 and London Blockchain Week are some of such meetings.

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