Out of all of the announcements cryptocurrency exchanges have made over the last month or so, this has got to be my favorite. On Tuesday, a Canadian cryptocurrency exchange, Einstein, announced that it plans to tackle the fentanyl epidemic. This, of course, is not an epidemic one would have thought a crypto exchange would have focused on solving, but that doesn’t mean this isn’t a good thing.
Canadian Cryptocurrency Exchange vs. Fentanyl
Einstein, a Vancouver-based exchange, announced that it wants to work with other crypto startups around the globe to help fight the fentanyl epidemic. The announcement was made yesterday at the Blockchain for Business and Government conference in Toronto. In 2016, the synthetic drug was responsible for 66% of overdose-related deaths in the United States. But it’s worse in Vancouver, which is why it makes considerable sense that a crypto exchange in the city is trying to do something about this problem. In 2016, Vancouver saw 922 drug overdose deaths, all of which fentanyl was responsible for.
Essentially, Einstein is looking to get its hands on a list of wallet addresses that are linked to fentanyl arrests and indictments. Christine Duhaime, Einstein’s chief anti-money-laundering officer, also stated that the firm wants to form partnerships with other exchanges in order to create a global database of “bad wallet holders.”
What’s the Goal?
The firm wants to stop their customers from sending cryptocurrency to these “bad wallets” from their exchange accounts. Duhaime believes that creating a blacklist of wallets would be the firm’s way of giving back to society. While fentanyl is rarely paid for with cryptocurrencies, it is still refreshing to see other industries trying to tackle this problem, aside from the healthcare industry and the police force.
It is an epidemic that has haunted the world and the Canadian city over the past two years, and I’m so glad to see that people are still fighting for ways to reduce the presence of the drug in society. I can only hope other cryptocurrency exchanges and startups see the importance of this endeavor and take Einstein up on its offer for partnership.
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Featured Image: indicrypto.com