Mar 4, 2020 09:31 UTC
Mar 4, 2020 at 09:31 UTC
CoronaVirus to get funds through XTZ Prize Pool
The outbreak of the coronavirus is one of the most devastating pandemics that is to take its toll over mankind. Claiming nearly 3000 lives to date it is one of the worst diseases that is to strike mankind. There are a numerous number of people who are relying on international support to tackle the problem as it is going out of hand as we speak.
Where are the drawbacks?
Now when it comes to allocating funds it is not small, but extremely large amounts of money that needs a proper methodology to reach the affected. Looking at cash as an alternative, there is a high chance that the disease may spread via cash handling and many of the experts feel that it is best to keep cash in the quarantine.
Now there is a huge demand to find an alternative to regulate cash flow and many of them feel that using digital payments is the best and most efficient way to transfer cash and use it for day to day basis. Looking at the importance of handling digital money, Developers from Tezos stepped up and created an XTZ prize pool.
What is Tezos planning to do?
The main motive behind the company to forward to such a move is mainly to facilitate the movement of XTZ coin. This will be a great method for the company to also improve business transactions with its organization and technology.
The company is also looking forward to awarding the users with a huge prize pool of the XTZ token as an exchange towards their contribution to coronavirus research. This will greatly increase the drive within the scientists to find an immediate solution. There are a lot of innovative solutions that will come out of this venture and this will drastically influence the ways in which the people in the XTZ network will perceive cryptocurrency and its usage.
Many are still skeptical about how this will actually turn out and many feel that there are a lot of other ways in which this could actually turn out. There is a lot of definite space and time in which the people can make improvements to the existential research scenario of the coronavirus but with some rewards involved it is totally a different case and scenario.
Till now the accumulation in the prize pool is around 340 XTZ which will come around nearly $930 US dollars.