The co-founder of Polygon Labs, Sandeep Nailwal, announced that the decentralized philanthropic organization Blockchain for Impact (BFI) has already allocated more than 90 million dollars for projects focused on healthcare.
Nailwal is also the founder of Blockchain For Impact, and he revealed that BFI has another 200 million dollars committed to future projects.
BFI in particular is supporting healthcare startups, research, and climate efforts globally, and among its projects are included key efforts to bring solar energy to 25,000 healthcare centers and a supply of 68 million dollars for syringes and equipment during the COVID-19 pandemic.
Future projects aim to promote biomedical research, healthcare innovation, and climate resilience.
Polygon and Blockchain For Impact aim to improve global healthcare
Blockchain For Impact is a pioneering philanthropic organization founded by Sandeep Nailwal, co-founder of Polygon.
BFI leverages blockchain technology to tackle global challenges in healthcare and sustainable development, focusing on transparency, efficiency, and lasting impact.
Thanks to strategic partnerships and innovative programs, BFI aims to be at the forefront of decentralized philanthropy, leading a positive change on a global scale.
His approach leverages blockchain technology to achieve greater transparency, efficiency, and scalability, and is setting new standards for decentralized donations.
Nailwal stated:
“Our fundamental mission is to guide a strategic philanthropy that is forward-thinking, transparent, and innovative by creating scalable systems capable of transforming healthcare for generations. By combining the transparency of blockchain with collaborative funding, we ensure that every dollar is accounted for and maximized for impact”.
The philanthropic initiatives
BFI recently launched its first program, the BFI-BIOME Virtual Network Program (BIOME), designed to create a dynamic virtual network for biomedical innovation.
In the next three years, this program aims to empower more than 46 startups through Kickstarter initiatives, scholarships, and support for innovators, establishing partnerships with over 15 medical colleges and leading more than 50 research projects to engage a community of over 600 researchers.
In particular, the financing from BFI has already had a measurable impact in India, where it has enabled, for example, the solar powering of public health centers (PHC).
BFI played a fundamental role in initiating the enormous fundraising of the SELCO Foundation to bring solar energy to over 25,000 healthcare facilities, with its initial investment of 6 million dollars.
96% of healthcare operators report an improvement in patient care, while an 83% reduction in vaccine waste has been achieved thanks to stable refrigeration.
Furthermore, to address access to healthcare in flood-prone regions, BFI has co-financed the hospital ship in Assam, which is a floating hospital serving 450,000 people annually with 24/7 medical assistance, maternal health services, and emergency surgeries.
It has also deployed 12 health fellows throughout Meghalaya, in partnership with UNICEF, and has implemented human-centered design solutions to address public health challenges.
During the COVID-19 pandemic, it allocated 68 million dollars in relief funding, purchasing 128 million syringes for India’s vaccination program through a 15 million partnership with UNICEF, and providing essential medical equipment and emergency facilities.
The future goals of Polygon and Blockchain For Impact to revolutionize the healthcare industry
Among the future initiatives stands out the Samarth Medical Innovation Program, a grant that brings together medical colleges and engineering institutes to develop commercially viable healthcare products in key areas such as cancer research, antimicrobial resistance, and medical device development.
There is also the European Biomedical Exchange Program, a residency program for Indian biomedical startups, which provides access to European regulatory expertise and venture capital networks to support global expansion.
Another future project is the BFI-BIOME Virtual Network Expansion, one of the largest collaborative biomedical research networks in India, which brings together leading institutions such as IISc Bangalore, BITS Pilani, IIT Bombay, and CCMB to accelerate digital innovation.
Crypto Philanthropy
A recent report by The Giving Block highlights the rapid growth of crypto philanthropy, with over 1 billion dollars in donations recorded in 2024.
According to the report, over 70% of the major charity organizations based in the United States now accept crypto, with education (16%) and healthcare/medicine (14%) among the main recipients.
Given that donations in criptovalute are expected to reach 2.5 billion dollars by 2025, BFI is leveraging the transparency and efficiency of blockchain to ensure that these funds produce tangible and high-impact results in areas such as medicine and climate action.