The goal of the partnership is to raise $2 billion to speed the vaccination process through some of the world’s poorest countries, with the Qtum Chain Foundation committing to match the total number of vaccines raised by Vaccine Forward.
Vaccine Forward is a Swedish-based initiative aiming to fight this inequality having raised over 12k vaccinations ever since its start and has now looked for the support of the blockchain and crypto industry in collaboration with Qtum Chain Foundation, which has provided half of the total vaccinations.
Elisabeth Thand Ringqvist, Vaccine Forward founder, referred to the partnership by stating:
“As a grass-roots organization, Vaccine Forward is proud to receive the biggest donation so far, effectively doubling the amount of raised vaccinations, from 6 000 to 12 000 with Qtum’s donation. We are also very happy for Qtum’s challenge to the Blockchain-space at large to do the same.”
The organization depends on private and corporate donations to make it possible to help countries who need the vaccines to ensure the health of their citizens, which are distributed via the Global Vaccine Alliance (GAVI).
Soon, donors will also be able to contribute to this mission by making donations using cryptocurrency directly on Vaccine Forward’s website, facilitating the process for people around the world who might not be able to donate with fiat otherwise.
Crypto As a Tool for Equality
While developed countries have moved forward with vaccination efforts, countries with poor economies and strong political relationships have struggled to vaccinate their citizens, creating a high level of inequality among a pandemic that affects all countries equally.
One of the pillars of the crypto movement on its inception and till this day has been to provide people around the world with access to financial services and platforms without the need for centralized authorities having power over them, which has made crypto a lifeline for residents of countries under extreme poverty, dictatorships, or economic sanctions.
Cryptocurrency has been used by organizations like AirTm to help citizens from countries like Venezuela to receive economic assistance from people abroad by bypassing legal sanctions and economic restrictions placed by their country and foreign governments, highlighting some of the benefits of decentralization.
Similarly, projects designed to allow charities to receive donations from interested parties have also become increasingly popular in the crypto ecosystem, which has proven to be invaluable for charities over the last years.
Qtum Co-Founder, Jordan Earl, referred to the potential the industry has to help the transition out o the pandemic by saying:
“We hope that we can inspire our industry to do the same and also match Vaccine Forwards fundraising to help in the effort of vaccinating people who need it the most. We at Qtum are global problem solvers with an open platform and therefore, I think the grass-roots organization Vaccine Forward is an amazing solution to a complex global problem.”
The Qtum Ecosystem Continues to Grow
Qtum has experienced increasing success over the past year, which has not only been reflected by its cryptocurrency’s gain in value but also by the expansion of its ecosystem.
The most recent news came in the form of an announcement of its commitment to provide Filecoin with smart contracts capabilities through the Qtum network, something that while not only benefits users of the platform but also Qtum itself as part of its portfolio controls about 10% of Filecoin’s mining power.
Great Options for New Markets
Qtum is also looking into launching NFT support to compete against networks like Ethereum by offering lower prices, which has been an increasing pain for projects running on the Ethereum network.
With major networks like Cardano, Polkadot, and Ethereum getting closer to the release of their next updates, Qtum is looking forward to becoming a major competitor in the growing crypto ecosystem.
The network’s coin, QTUM, has gained over 700% in value over the last year according to Coingecko data, with a 90% over the last month which has seen most of the big projects in the crypto market go through a bearish trend.