The philanthropy of the blockchain is gaining momentum, with the blockchain for the impact (BFI) exceeding $ 90 million in health care benefits, biomedical research and climate resilience.
The initiative, founded by the co-founder of Polygon, Sandeep Nailwal, also reserved an additional $ 200 million for future efforts, signaling the growing role of cryptocurrency in global donations.
Crypto donations gain traditional traction
The expansion of BFI aligns with the broader trends of philanthropy based on cryptocurrencies. According to a recent report of the donation block, global crypto donations exceeded $ 1 billion in 2024. For the most part, clearer regulations and increasing non -profit acceptance of digital assets have led overvoltage.
Currently, more than 70% of the main American charitable organizations accept cryptography donations. Health and medical initiatives represent 14% of contributions. Analysts predict that cryptographic philanthropy could reach $ 2.5 billion by the end of 2025.
BFI takes advantage of this change by integrating the transparency and decentralized blockchain funding funding model to meet the systemic challenges of health care and climate action. The initiative aims to ensure that funds effectively achieve their planned objectives, avoiding bureaucratic delays that often hinder traditional charity efforts.
Among BFI’s notable projects is its partnership with Selco Foundation. The company has seen an investment of $ 6 million accelerating the solarization of 25,000 public health centers in India. The initiative, which could have taken a decade to implement by conventional means, considerably improved the reliability of medical services.
In a press release shared with Beincrypto, BFI revealed that the launching plans for large -scale programs to maintain its impact. Its flagship initiative, the Virtual Network BFI-Bioma program, aims to support 46 startups through grants, scholarships and partnerships with 15 medical faculties over three years. The program should initiate more than 600 researchers in more than 50 projects.
The European biomedical exchange program will also help Indian startups navigate international regulations and secure investment in venture capital.
“We are building evolutionary systems to transform health care for generations by combining blockchain transparency with collaborative funding,” said Nailwal.
With an additional $ 200 million reserved for future projects, BFI aims to extend its scope in medical research, the development of startups and climate resilience. Meanwhile, the challenges surrounding cryptographic philanthropy become more pronounced.
Challenges for philanthropy crypto
However, crypto donations have also raised concerns about illegal funding. According to a Chainalysis report, the rebel group HTS in Syria received donations from crypto before winning the victory in the Syrian civil war.
This case highlights the double -edged nature of the philanthropy of cryptography, where digital assets can be used for humanitarian causes and harmful activities.
In South Korea, universities have struggled to manage cryptocurrency donations due to regulatory uncertainties and tax complexities. This led to hesitating to accept the contributions of digital assets despite their potential for financing research and scholarships.
Adding to complexities, the FTX, an exchange of assimilated crypto, recently increased its legal actions, depositing 20 prosecution targeting political gifts and fraudulent transactions linked to the collapse of the FTX. This reflects the wider risks associated with unregulated cryptography donations and the need for transparency in the philanthropy of digital assets.
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