Through Blockchain For Impact Sandeep Nailwal and his Polygon co-founder have distributed $90 million to improve healthcare research and development. Apart from providing $90 million BFI has committed an additional $200 million to support medical research and new healthcare businesses along with climate protection work.
BFI uses blockchain technology to support public health system development across the world through its organization. The Samarth Medical Innovation Program leads BFI efforts to advance healthcare innovation alongside the European Biomedical Exchange Program and BIOME Virtual Network Expansion by using blockchain for healthcare technology development.
BIOME Program to Fund 46 Healthcare Startups
BIOME Virtual Network Program serves as BFI’s most important project. Throughout the following three years BIOME plans to help 46 healthcare startups by offering funding programs and mentorship projects. BIOME will partner with 15 medical facilities to run 50 research projects that involve 600 researchers from all over the world.
As the head of BFI and Polygon co-founder Sandeep Nailwal points out blockchain technology lets philanthropists better show where their money goes. Through the union of blockchain openness and shared giving methods we guarantee that every donated dollar serves its best purpose according to Nailwal.
Sandeep Nailwal supports blockchain giving by starting India’s COVID Relief Fund which received major cryptocurrency donations from Vitalik Buterin and Balaji Srinivasan along with others. According to a recent Giving Block report cryptocurrency donations to charities surpassed $1 billion in 2024. According to the report donors made 386% larger donations in 2024 compared to 2023 and the typical amount given was $10,978.
Board-level charity organizations around the world are now using blockchain technology to accept donations at scale. Fasset from the United Arab Emirates and Kitabisa from Indonesia joined forces to accept USDT for Islamic donations which demonstrates widespread adoption of cryptocurrencies in humanitarian work across nations.
Through its $200 million healthcare initiative BFI moves Nailwal closer to his goal of creating a scalable blockchain system for transparent philanthropy that benefits healthcare and medical research.
