Home News Bitcoin Indian Cryptocurrency Community Comes Together to Extend Support to Fallen Soldiers

Indian Cryptocurrency Community Comes Together to Extend Support to Fallen Soldiers

March 14, 2019 16:26
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The recent terrorist attack that took place on February 14 in Pulwama Tragedy, saw the death of 44 Central Reserve Police Force (CRPF) jawans, shocking the nation. India united like never before and every Indian came forward to donate in any way they could.

Naturally, the Indian cryptocurrency community, also came forward and showed their solidarity by contributing what they could. Sohail Merchant, the Chief Executive Officer (CEO) of cryptocurrency exchange Pocketbits, spearheaded a Twitter campaign urging investors and hodlers to donate what they could. The campaign started on February 21 (a week after the terrorist attack) and will end on March 15 (tomorrow).

Asked about the campaign, Merchant said, “We had previously done a similar campaign for the Kerala Floods victims. Which had a good response and we collected approx 164k INR in crypto which was used to buy food kits, sanitary pads and some of the funds were donated to the Chief Ministers fund too. And during the Pulwama Tragedy we saw a similar will to contribute among crypto users, some in TG groups and some on Twitter. Hence, we launched this campaign so that the Global Crypto users can help with as little as possible without worrying about converting the crypto to fiat on February 21.”

Crypto-News India had earlier reported that, bitcoin community IndiaBits, and cryptocurrency exchange PocketBits and a Blockchain company BlockHack had collaborated to collect donations through Bitcoin and send it to the people of the flood-ravaged state. The exchange has set up a website to guide cryptoassets holders into sending some monetary help, if they wish to.

At the time PocketBits had said, “We have set up this page to assist crypto token holders from around the globe to contribute to the State’s Chief Minister’s Distress Relief Fund and enable the purchase of goods for transfer to NGOs. All tokens sent will be converted to INR at spot prices every few hours. Half the funds will be wired to the Chief Minister’s fund. The other half will be used to buy goods to donate towards Goonj, We will also be working with regional NGOs (Goonj on Amazon and Anbodu Kochi) to have goods (sanitary napkins, medicines etc) delivered to pick up centres in Bengaluru.”

Acknowledging the contributions, the Home Ministry of India sent a certificate to the cryptocurrency community, thanking them.

Source: IndiaBits

Merchant said, “However this time we did not have enough traction as Most of the martrys families has already received the max 15lakh cap set by the Ministry of home affairs and all we can donate to now is the Corpus fund for the martyrs.
The certificate was issued to us after we donated the amount that we have received till date, and as we do not perceive any more contributions coming in, we decided to stop the campaign on this Friday.” He added that they would be supporting further causes in the future, should the community require assistance.

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