Blockchain For Impact (BFI), a charity established by Polygon co-founder Sandeep Nailwal, has committed $90 million to advance biomedical research, driving healthcare innovation, and enhancing climate resilience — a development that could spur blockchain’s adoption for charity initiatives.
The Polygon co-founder’s BFI plans to allocate an additional $200 million to support the growth of healthcare startups, expand biomedical research, and strengthen the public health systems.
BFI has backed several impactful projects in India’s healthcare sector, including Solar-Powered Public Health Centers (PHCs), a floating hospital in Assam to aid communities in flood-prone areas, the UNICEF Healthcare Innovation Partnership, and relief funding during the COVID-19 crisis. Their further initiatives will place a greater emphasis on healthcare innovation and research.
Incorporating blockchain technology can make philanthropic efforts more transparent and accountable thanks to the ledger’s verifiability, according to Sandeep Nailwal, Founder of Blockchain for Impact and co-founder of Polygon.
Nailwal told Cointelegraph:
“All donations received by BFI can