Many Texas residents continually speculate that when someone drops a cup full of ice, there are many reasons to interrupt their studies – severe winter storms are so rare that authorities often don’t have the opportunity to clean up icy and salt streets.

However, what happened last month at Lone Star State was no joke. Millions of people have witnessed a week of sub-zero storms, many impassable streets, bursting water pipes and days without electricity. By mid-February, the Texas Electricity Reliability Board, or ERCOT, was forced to shut down large swaths of the state’s independent power grid, causing people to burn furniture, gather with all their clothes, or set up tents in their living quarters. field. To keep warm.

One of the biggest problems was water. With temperatures dropping below zero overnight and remaining so for several days, many homes and apartments were completely flooded and destroyed, causing people to flee in the midst of a storm, when many roads were unsafe and shops were unable to supply the materials first necessary. , Has been disabled. From supply cars.

Unfortunately for Texas, soaring temperatures now – Austin topped 70 degrees Fahrenheit just a week after the winter nightmare began – mask the economic hardship people face in the wake of the storm. Even so, the cryptocurrency may offer at least partial relief from the economic downturn for some of those affected.

In the capital of Texas, the Austin Disaster Relief Network, or ADRN, created cryptocurrencies in response to the storm. The organization now accepts Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Zcash (ZEC), Gemini Dollar (GUSD), Basic Attention Token (BAT), Chainlink (LINK), and 0x (ZRX). )), Storj (STORJ), Dai (DAI) and Amp (AMP) to help uninsured families fleeing destroyed homes or facing financial hardship after a storm.

Since cryptocurrency donations became active last Wednesday, the organization has only received one over-the-air payment of around $ 700. This donation (along with a donation of paper currency) enabled ADRN to assist more than 1,000 families displaced by the hurricane. Water damage from storms. The organization says there may be more than 4,000 families in the Austin area who still need help.

“We intend to accept donations in cryptocurrencies almost forever,” said Michael Gisch, chief financial officer at ADRN.

One of the services the organization provides is providing money directly to families to purchase petrol and other necessities in the form of prepaid Visa gift cards. Many Austin residents do not have the ability to work from home, and cannot work for up to a week while the streets are covered in ice, resulting in the loss of many salaries.

However, ADRN CEO Daniel Geraci believes that sending a cryptocurrency could be an option for future disaster scenarios, such as the recent storm, where neither the organization nor those affected can travel safely to provide funds in person. Geraci said he “never really thought about cryptocurrencies at that point,” as it was evident that the organization was facing more pressing problems. However, he believed technology was a way to “bring in money from a catastrophic disaster quickly enough to help all of our families in need.”

Giving Block is also helping victims of the Texas Winter Storm. The donation portal has created a $ 100,000 page called Bitcoin for Texas. When organizations integrate with the Giving Block, they can choose to store their donations in cryptocurrency or convert them into legal currencies. It was alleged that ADRN took a position on the latter.

“This is a tough fight, raising money, when all the cameras are off,” Geraci said. “We are preparing for new catastrophic events […] We are moving from a central plan to a decentralization plan.”

Source: CoinTelegraph

LEAVE A REPLY