The recent earthquake in Turkey and Syria has resulted in more than 50 000 humans killed and around 84.1 billion USD in damages. The earthquake is considered one of the worst in modern global history.
A lot of help and aid have been provided through different methods and by different organizations such as governments, NGOs, and networks. One special thing is that crypto is being used for the first time in a larger amount and numbers to provide aid. More than 6 million USD of value has been donated in crypto.
Among the more engaged communities and exchanges are Avalanche, Binance, and Bitfinex. The Avalanche Foundation provided around 1 million USD in AVAX. For example, ReFi DAO reports:
"On-chain transaction provides immediate transfers and traceability, proving that a donation landed in the wallet it was supposed to. For these reasons, apart from the mere fact that more people now own crypto than ever, the crypto donations for Syria and Turkey have already exceeded $5.9 million
Another emerging trend in aid is the use of blockchain-enabled quadratic funding (QF) that includes a matching pool to incentivize additional donations.
partnered with to match the $25k fundraising goal in a quadratic funding round until March 20 to support NGOs providing humanitarian aid in southern Turkey. Another case is also action by Vitalik Buterin, an ETH co-founder who has donated more than 227 000 USD in ETH as aid donation.
This historical moment shows how crypto can be used to help people and for human empathy and solidarity.
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