Qtum Quantum Chain Foundation, the organization, constituted to protect the privacy and confidentiality of the user information have made a public announcement regarding its donation of a substantial amount of 200,000 yuan to the Hubei Charity Federation. The donation has been made to aid the remedial efforts for virus epidemic prevention and control.
According to the reports, the collected funds will be invested in the welfare activities in the epidemic-stricken area of Wuhan. The funds will be disbursed for the following purposes:
- For the purchase of epidemic prevention medicinal supplies
- Offer pension to the families who suffered a loss of members due to the epidemic spread
- Providing financial aid to volunteers with respect to insurance, purchase of protective gear and living allowances.
- Managing hospital services
After the successful eradication of the epidemic, the remaining funds shall be used for providing the people with public well-being training, dietary supplements, etc. The funds pooled in will not only be employed for the welfare initiatives in the Wuhan province but also in other provinces and cities that are severely affected by the epidemic spread.
Ever since the news of the spread of Coronavirus in Wuhan has been making rounds, the crypto industry has actively participated in the restoration and relief initiatives. Recently, the world’s leading cryptocurrency exchange, Binance, announced that it would be donating $1.44 million for the noble cause. The exchange also launched a charity donation initiative to collect medical supplies for the coronavirus victims.