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$50K Set To Be Distributed In Indonesia by Huobi Charity

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The charity arm of the Huobi exchange has made an announcement today. This announcement is in regards to the initiative it launched in order to distribute aid in Indonesia as it fights the COVID-19 pandemic.

Working Alongside ICAESCC

The Huobi Charity will work in partnership with the Indonesia-China Association of Economic, Social and Cultural Cooperation, or ICAESCC. This partnership will distribute aid to the country through the medical supply donation, monetary contributions, as well as the use of blockchain technology to help healthcare organizations.

As an immediate measure, Huobi Charity will donate an approximate of $50,000 worth of Huobi Token to ICAESCC. These tokens will be used to purchase medical supplies for the hospitals of Indonesia.

Cause Of Grave Concern

The vice president of Huobi Group’s global business, Ciara Sun, gave a statement regarding the coronavirus pandemic and its impact. In particular, Sun stated that it’s affected every person in every part of the world, going further to say that it spanned nationality and socioeconomic status, as well.

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On the 31st of March, Indonesia was forced to close its borders to foreigners. This came after a study from the University of Indonesia had shown that the country could have a potential death toll of 240,00 by the end of April this year, should no action be taken. As it stands now, the study the university had published estimated that various degrees of direct intervention could reduce the deaths down incredibly, down to as little as 12,000 and as much as 48,000.

Asking For Global Aid

Sun stated that a concerted effort is needed from the country as a whole in order to help protect the millions of lives at risk, as well as the healthcare workers at the front lines. As such, Sun urged the crypto and blockchain communities of the world to help contribute to Indonesia’s fight against the COVID-19 pandemic.

As it stands now, the Indonesian subsidiary of Huobi had developed an online portal for donations. Through this portal, users can donate both crypto and fiat to ICAESCC in order to help with the efforts.

As it stands now, Huobi Indonesia has been slated to work alongside ICEASCC to both promote the platform itself and act as its administrators. Furthermore, this platform will be leveraged to distribute medical supplies and is available in Chinese, English, and Indonesian.

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      A journalist, with experience in web journalism and marketing. Ali holds a master's degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.