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Press Release

Cryptocurrency vs COVID-19: Bloomzed Project Founder Allocated $ 10 Million to Fight Against Coronavirus

Reading Time: 4 minutes by on May 1, 2020 Press Releases

Today, there is almost no place in the world left untouched by COVID-19. People suffer losses, businesses are counting their damage. The IMF assessed the economic impact of COVID-19 and considered the observed global downturn to be the worst since the Great Depression of the 1930s. The pandemic plunged the world into crisis and had a negative impact on industry, tourism, trade, stock markets, and cryptocurrencies. After the WHO officially announced the coronavirus pandemic, almost all investment mechanisms in the world responded with a decline. The Dow Jones, FTSE, and Nikkei indexes posted the biggest quarterly falls in the first three months of 2020 since 1987. The stock market was going through its worst days in the previous decade. The cryptocurrency market also sunk.

The fall in the rate of bitcoin and altcoins was not so rapid against the background of the fall in the rates of traditional assets. And to date, we can see the growth of digital assets. However, small projects that weren`t ready to take such a blow had to withdraw from the game. The ICO market actually collapsed. Only strong players remained in power. One of those who continued to implement their plans was the Bloomzed fintech project, which is developing a universal payment tool. The current situation has forced the project team to put aside their work and direct their efforts to a more important mission.

Bloomzed Facing a Global Threat

Today, the IMF says that the world economy will shrink by 3% this year, which is the worst performance since the Great Depression of the 1930s. According to the IMF’s most optimistic forecast, global economic growth could reach 5.8% as early as next year if the pandemic ends in the second half of 2020. The IMF notes the vital importance of quarantine measures and social distancing measures for achieving these indicators. In addition, more funds should be allocated to health systems and financial support for employees and businesses. The organization called on the world to work together to get out of this situation with the least losses.

The Bloomzed project team decided to support this global initiative. So, its founder, Elchin Suleymanov, a businessman, mentor with many years of experience, as well as a speaker at various events, including blockchain conferences, stressed that today it is very important for everyone, especially the business community, to support the idea of the IMF to unite the world in the face of the common threat. But how can we unite when today the world is divided not only by geographical boundaries, but also by forced boundaries of social distance? Thinking about this topic, studying the events taking place in the world, the Bloomzed team found a solution.

“High 5”

The current isolation conditions are introduced in order to slow down the spread of the virus. For many, this state of affairs is a real test. The Bloomzed team set themselves a task that they had to think about: how to unite people with a common goal that will be aimed at supporting the world community in the fight against COVID-19, while brightening their time in isolation, and providing an opportunity to get financial benefits? The result of this work was the “Bloomzed’s High5 Covid -19 Relief Movement” – charity movement, initiated by the project team. The movement consists of three directions: “Limited Charity Token Offering”, “Challenge to Businesses”, and “Social Challenge”.

“Limited Charity Token Offering” is a limited charity token offering of the Bloomzed project (BZT). The Bloomzed founders decided to allocate a limited number of BZT tokens – 2 million tokens at a price of $5 per coin, and implement them for charitable purposes. All funds collected from the sale of tokens in the period up to 31.05.2020 will be directed to international funds that are engaged in fighting the spread of COVID-19 and eliminating its consequences. Token holders will be able to use them inside the Bloomzed platform, make partial or full payment for the services of the project’s partner companies, and sell them on one of the exchanges where the token is traded – TAGZ, COINSBIT, P2PB2B, EXRATES, PROBIT.

“Challenge to Businesses” and “Social Challenge” are two types of challenges, united by the common name – “High 5”. These directions of the charity movement of the Bloomzed project are its more interactive, designed to draw attention to the global problem of the coronavirus pandemic and its consequences. The idea of the challenge is that everyone, whether a representative of a large business, a private entrepreneur, or an ordinary person, can contribute to the fight against COVID-19, give their “high five”, and draw public attention to this important issue.

Both directions imply the need to record a video message or take a photo dedicated to the “High 5” movement and post it on social networks under the appropriate hashtag. At the same time, the appeal within the “Challenge to Businesses” should be devoted to what exactly this company or private entrepreneur can offer in the fight against COVID-19. For example, the payment for goods or services can be cancelled and significant discounts can be provided for the period of isolation. It will be possible to help people and the movement this way, as well as attract public attention. To participate in the “Social Challenge”, you must pass a virtual “High 5” to five friends, marking them under a post with the video or photo. It is important to use hands, gloves, and the image of a hand. The more creative the content, the more likely it is to receive a prize from Bloomzed and its partners.

So, the idea of the “High 5” movement is to attract as many people as possible to the problem of fighting this large-scale disease called COVID-19. The challenge allows everyone to understand what role they are ready to play in this fight – to support the movement financially or to help with the spread of information and promotion in social networks. The main thing here is not to remain indifferent!

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