You must have heard about the most severe pandemic of our time which is the Coronavirus that has emerged from China and has spread to all parts of the world within months. Now, we know that the mortality rate of this virus is quite low which means that the majority of the people are immune.
However, the fact that there is no vaccine developed as yet for the pandemic shows that everyone is at risk right now. Also, authorities are saying that a vaccine against this virus would take months if not years to be developed.
However, we have a report from Coindesk revealing that a group of Bitcoiners are taking the matter into their own hands. This is to say that they are trying to develop a vaccine which will be useful to fight against the coronavirus which has been spreading everywhere with no cure in sight. At first read, anyone would think that this has to be a scam since they are accepting donations via bitcoins too but Mark Friedenbach says that this is “not a scam”.
This group is known as CoroHope is funded from the crowd using bitcoins. They are saying that they do have a biologist on board with 10 years of experience who can develop immunity against this virus. Their reasoning for not doing this openly is that the FDA is very slow in development as they need a lot of paperwork.
CoroHope says that “Cryptocurrency is uniquely able to help with this problem because, like us, it’s outside the traditional system. The original backers are bitcoiners, and we’d love to keep working with bitcoin and bitcoin developers on this problem. We need all the help we can get,”
They explain that “FDA-compliant manufacturing is absurdly overregulated: paperwork for the paperwork, quadruple-checking, endless committees … just the worst of bureaucracy. So we can be more nimble,”