26.10.2020

Bitcoin Community Funds Italian Red Cross Medical Facility to Combat Coronavirus

On April 5, an Advanced Medical Post (AMP) for pre-triage was erected by the Italian Red Cross in Castel Gandolfo, a town near Rome.

Bitcoin (BTC) donations are helping save Italian lives and protect first responders on the front line of the battle against Covid-19, according to Helperbit, a disaster management platform based on blockchain.

Set up in conjunction with the Colli Albani Committee, the AMP was purchased using bitcoin donations that were part of a fundraising campaign focused on the COVID-19 emergency in Italy. The campaign raised €29,350 (around $31,828) in bitcoin.

AMPs are mobile medical centers used in times of crises to assess patients who may be in need of immediate medical assistance. In Italy, they’re helping medical professionals combat COVID-19 by acting as a point of contact for those potentially infected with the novel coronavirus, who then receive testing and advice.

Italy has been among the worst-affected nations during the pandemic. Over 15,800 have now died from the illness – around a quarter of the global total. However, the daily increase in deaths has now started to drop, bringing hopes that the worst may be over.

Beginning on March 13, the donations effort set up by the Colli Albani Committee managed to raise €10,000 ($10,825) in bitcoin in as little as three days.

The BTC funds have been used to purchase materials needed to build the AMP, which is now fully operational.

“We are happy to have turned the received donations into a tangible aid. We are excited to have received so much help from the bitcoin community,” said the president of the Colli Albani Committee, Bruno Pietrosanti, in a Helperbit blog post.

The campaign closed on April 7, having raised more than its target of 3.6873 bitcoin.

Bitcoin News Summary – March 30, 2020

Binance exchange is bringing a new crypto debit card, called Binance Card, to market. While the card currently exists virtually, it will soon be available in plastic form. The card can be funded with either Bitcoin or Binance’s own exchange currency, Binance Coin. The card will be issued by Visa, making it usable just about everywhere in the world, whether on or off-line.

Major crypto exchange, Bitfinex, dropped numerous minor altcoin trading pairs from its platform. While no altcoins were delisted entirely, 87 different trade combinations: for example, the market for exchanging Euro for Verge, have been discontinued.

Software giant Microsoft recently filed a patent for a new type of blockchain. Like Bitcoin, it uses Proof of Work mining but instead of machines performing the work, the human mind and body is the source of hashpower. By connecting participants to biosensors, Microsoft’s design can monitor human energy expenditure related to specific tasks. This human energy takes the place of electrically-powered mining equipment.

KB Kookmin Bank, the largest bank in Korea, is about to launch a custody service for both Bitcoin and Ethereum. Their new platform, titled KB Digital Asset Custody, has not yet announced a firm launch date but it’s expected this year. In another sign of increasing mainstream financial integration, more than 40 German banks have applied to offer similar custodial services. Remember though; not your private keys, not your crypto!

Before we conclude, this week’s “Bitcoin quick question” is are cryptocurrency transactions taxable?

The answer to this question really depends on where you live and pay taxes. Most countries today that have acknowledged Bitcoin as an investment vehicle have clear tax regulations regarding gains made through investing in Bitcoin or other cryptocurrencies.

If you’ve bought, mined or traded cryptocurrencies you may be subject to capital gains tax or income tax if this is your main occupation. It’s best to talk to a tax consultant in your area that is familiar with cryptocurrency taxation.

If you want to learn about how certain countries tax Bitcoin, take a look at the link in the description.

Have a question you want us to answer? Just leave it in the comment section below. And if you want to support our videos, consider using the Brave browser for faster, ad free browsing that can also earn you rewards. Just visit the link in the description below.
coindesk.com

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