BFI allocates $90M and pledges $200M for health initiatives

Blockchain For Impact (BFI), a charity founded by Polygon (CRYPTO:MATIC) co-founder Sandeep Nailwal, has committed $90 million to advance biomedical research, drive healthcare innovation, and enhance climate resilience.

Additionally, BFI plans to allocate an extra $200 million to support healthcare startups, expand biomedical research, and strengthen public health systems.

BFI's initiatives have already made a significant impact in India's healthcare sector, including funding solar-powered public health centers, a floating hospital in Assam, and relief efforts during the COVID-19 pandemic.

The organisation's use of blockchain technology ensures transparency and accountability in its philanthropic efforts, allowing all donations to be tracked and verified on-chain.

"All donations received by BFI can be tracked through blockchain... Anyone, be it donors or communities, can see where the money goes," Sandeep Nailwal noted.

This approach has led to tangible results, such as improved healthcare services and reduced vaccine wastage.

BFI's efforts are part of a broader trend in crypto philanthropy, which saw over $1 billion in donations in 2024.

The Giving Block reported that more than 70% of top US-based charities now accept crypto, highlighting the growing acceptance of digital donations for their transparency and efficiency.

The organisation's future initiatives include the BFI-BIOME Virtual Network Program, designed to support biomedical innovation through partnerships with medical colleges and research projects.

This program aims to invest in 46 startups and drive over 50 research projects, further solidifying BFI's commitment to healthcare innovation.