Decentralized Organization Helps Victims of COVID-19

2020-03-20 12:14:01 - Estonia - (PR Distribution™)

How to protect yourself from COVID-19? A decentralized community helps victims of the insidious virus.

The World Health Organization (WHO) declared as of  March 11 COVID-19 is officially a pandemic, and pointed to the fact that over 256,000 cases of the coronavirus  are present in over 169 countries and territories around the world and the sustained risk of further global spread is imminent.

In these turbulent times Covid19.Insure has been established - a self-governed mutual assistance fund that allows people to help the families of the victims of COVID-19 and insure their lives at the same time. 

Participants can contribute $20 - $100 to the fund and will be covered up to the amount of $100,000 in the case of death from coronavirus.

The uniqueness of this service lies in the fact that the period of "mutual assistance" is limited to 12 months. All funds that remain in the fund after this period will be automatically redistributed among all participants.

All interaction processes between the participants are controlled by a smart contract implemented by the ETHEREUM public blockchain, which stores the collected funds and distributes and  pays according to the participants' voting. All rules, transactions, payments, distributions are transparent and accessible to all participants.

This project is an example of the construction of the so-called P2P (peer-to-peer) or decentralized autonomous "organizations", for the functioning of which there is no need for a central "governing" body.

At the same time, this project can be considered as the most “transparent” charity project in which participants can help relatives of victims of the COVID-19 virus.

Reference: Covid19.Insure is a fund built on the principle of a decentralized autonomous organization, which aims to help relatives and friends of coronavirus victims using modern blockchain technology. The fund’s activities have a pronounced social character, the services of which are needed both in entire regions and countries with the rapid spread of COVID-19, and in countries with low infection rates. Covid19.Insure fund is scheduled to be technically ready by the 5th of April and available all over the world. This project has been incubated with active support of Startup.Network and technically enabled by Ambisafe

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