Polygon co-founder, Sandeep Nailwail, has made a significant impact on the healthcare sector by donating over $90 million through his donation fund, Blockchain For Impact (BFI). The organization has also pledged an additional $200 million for future initiatives, aiming to support healthcare innovation, biomedical research, and climate resistance.
According to a press release from crypto.news, BFI has allocated more than $90 million towards funding initiatives in the healthcare sector. The organization is prioritizing funding for healthcare startups, biomedical research, and efforts to strengthen the public health system through blockchain philanthropy. Some of the initiatives supported by BFI include the Samarth Medical Innovation Program, the European Biomedical Exchange Program, and the BIOME Virtual Network Expansion.
The BIOME Virtual Network Program is BFI’s first program aimed at advancing biomedical innovation through a growing virtual network. Over the next three years, BIOME will support more than 46 startup firms through kick-starter initiatives, fellowships, and innovator support. Additionally, the program will partner with more than 15 medical colleges to drive 50 research projects involving over 600 researchers.
Sandeep Nailwail, the founder of BFI and co-founder of Polygon (MATIC), expressed his mission to create scalable and transparent on-chain systems that can further advance healthcare initiatives for future generations. He emphasized the importance of combining blockchain’s transparency with collaborative funding to ensure that every dollar is accounted for and maximized for impact.
Nailwail is known for launching a COVID Relief Fund for India, which received donations from prominent figures in the crypto community such as Ethereum co-founder Vitalik Buterin and former CTO of Coinbase Balaji Srinivasan. The recent report from The Giving Block on crypto philanthropy highlighted that over $1 billion in crypto assets were donated to charities in 2024 alone, with the average crypto donation amount increasing significantly compared to previous years.
In a related development, UAE-based crypto firm Fasset collaborated with Indonesian charity platform Kitabisa’s Islamic donation partner to facilitate religious donations paid through cryptocurrency, specifically in USDT. This partnership showcases the growing trend of using cryptocurrency for charitable donations and highlights the potential for blockchain technology to revolutionize philanthropy.
Overall, Sandeep Nailwail’s generous donation to healthcare through BFI demonstrates the positive impact that blockchain technology and crypto philanthropy can have on advancing healthcare innovation and supporting important causes.