The fund raising event was conducted to battle the nation’s coronavirus epidemic with the backing of Helperbit.
The amount raised will supposedly be utilized to establish a “second-level advanced medical post for pre-triage of COVID-19 cases in Italy” and is anticipated to attain an objective of €10,000 to purchase the requisite medical hardware for the framework.
The rest of the amount will be utilized to pay fees of medical personnel that will take part in the venture.
Bruno Pietrosanti, president of the Colli Albani Committee, stated that they had to reduce the stress on hospitals due to a rise in infected patients and the decline in available space in Italian hospitals.
Regarding the measures taken in partnership with Helperbit, a blockchain firm that provides a charity platform, Pietrosanti stated:
“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 initiative is backed by Young Srl, a financial technology firm that is focused on community efforts organized by members of crypto industry, and Blockchain Education Network Italy, a not for profit organization that provides crucial info about Bitcoin and blockchain in Italy.
Andrea Ferrero, CEO of Young SRL, explained the benefits of blockchain in fundraising:
“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, an executive from Blockchain Education Network Italy, underlined the significance of these platforms, which provide “transparency” in grants, amidst the urgency in the country.
Unfortunately, over 1,200 people have lost their lives in Italy due to coronavirus and over 17,600 cases have been confirmed.