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Blockchain Entities Want to Help Turkey Donating Cryptocurrencies After Earthquake

Author

Jonathan Gibson

Tags

Reading time

3 mins
Last update

Author

Jonathan Gibson

Tags

Category

Breaking / Crypto News

Reading time

3 mins
Last update

Author

Jonathan Gibson

Tags

Reading time

3 mins
Last update

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Blockchain entities have signed a request in order to help people in Turkey after today’s earthquakes. The goal is to have a cryptocurrency wallet for the country to accept donations in virtual currencies. This is similar to what happened with Ukraine at the beginning of the war in February 2022. 

Blockchain Entities Want to Donate Crypto to Victims of Turkey’s Earthquake

Multiple blockchain entities, companies and projects have signed a petition in order to request Turkey to create a cryptocurrency wallet to receive donations from people all around the world. This comes after two recent earthquakes that hit the south of the country and that affected Syria as well. More than 2,300 people have been confirmed dead after these earthquakes. 

Many organisations in different countries are already working in order to help Turkey and Syria deal with some of the costs of the reconstruction of these regions and to help the victims that have been affected by these earth tremors. 

The cryptocurrency community has shown interest in helping Turkey and Syria. Several crypto exchanges, including Binance, Gate.io and Bitfinex have also shown their intention to donate money to those in need through aid packages. If the Turkish government releases a crypto wallet, then there will be a large number of users that would like to donate some crypto and Bitcoin to help people. 

The question is whether Turkey or Syria will decide to open dedicated crypto wallets for people to donate and for other companies to send funds there. This is going to make it possible for local brigades and rescue teams to have the necessary funds to find victims and them. Let’s not forget that hospitals have been also affected and many of them are full due to the current situation. 

This is not the first time that the crypto community works together in order to help people around the world. For example, in February 2022 and early March, the Ukrainian government set up a crypto wallet to receive donations. This happened right after the start of the war when Russia attacked multiple cities in Ukraine and started an invasion that lasts until today. Millions of dollars worth of crypto donations were gathered in just a few days. 

Cryptocurrency exchanges and other companies have been many times involved in donation campaigns to help people that needed it, especially in developing countries. These initiatives have helped the crypto ecosystem show that the world can be united when terrible things happen without having to rely on large centralized parties (which will then take their fees and commissions to transfer funds across borders). 

Crypto funds sent today to Turkey or Syria could be used immediately to fund the needs of thousands of individuals that lost their homes or that have been affected by the Earthquakes. Experts say that there could be future smaller earthquakes and that this could have a negative effect on buildings that have not been fully destroyed but that could be taken down if another strong tremor takes place in the region.