On the 27th of January, Huobi initiated the Huobi Charity program was announced with a setup fund worth of 10 million Chinese Yuan to help the victims with equipment and other relief efforts.
Huobi sends love and support to everyone impacted by the coronavirus. Huobi decides to establish @HuobiCharity Charity,and set up a 10 Million RMB fund to purchase protective equipment and donate to the medical staff working at the frontline.#coronavirus #Wuhan #prayforwuhan pic.twitter.com/2GBhzVOEdE
— Huobi (@HuobiGlobal) January 27, 2020
By the same day, Huobi Charity had delivered 20,000 masks dubbed the N95, crucial to keep the population safe from the Cronoavirus group. The notorious virus is responsible for hundreds of deaths in the country, and so far, there has been no significant cure. The charity program had also promised a shipment of 200,000 sets of protective gear and other equipment necessary for medical staff.
Need for Huobi Charity like projects in cryptosphere
The response was not only timely but also a critical decision on the part of Huobi. It does not only serve the corporate social responsibility purpose for the cryptocurrency exchange but also as a counter-effort against the ill fame crypto community has been working on for quite some time.
The project can be accounted for a long term movement leading to the regulatory and security concerns raised by different governments and authorities.
Blockchain is the future, and the world is embracing it, but at the same time, the fear of the unknown makes progress slow. Enabling charity solutions on the blockchain would help bring transparency to the causes and security of health data.
Experts are already criticizing the Chinese government’s centralized approach towards the recent epidemic in the country collectively dubbed as the “Coronavirus.”
These technologies are already in widespread usage, such as by the likes of Alibaba, SF Express and Apple—why not charities?
Hong Kong-based academic and regulatory expert Syren Johnstone believes that President Xi Jinping is in favor of blockchain; thus, the time is right to adopt what he calls ‘Blockchain+’ solutions to support basic needs such as, medicinal safety.
Johnstone is serving as an executive director of the Master in Laws (compliance & regulation) at the University of Hong Kong. His thoughts in the Oxford university blog is the shared voice with many proponents of blockchain and artificial intelligence programs that can help transform a better future for humanity.
Featured Image by Pixabay