[Photo] BC Card held a business partnership agreement ceremony on "building a donation platform using blockchain" with the Green Umbrella Children's Foundation and E4NET at BC Card headquarters in Jung-gu, Seoul at 10 a.m. on September 30. (From the left side) BC Card CEO Choi Won-seok, Green Umbrella Children's Foundation Chairman Lee Je-hoon, and Ephonet President Lee Soo-jung are attending the ceremony.

Is my donation really delivered and used well to those in need? Wouldn't the organization that executes donations in the middle embezzlement or abuse it by beneficiaries?

If BC Card builds a new donation platform, donors' concerns about transparency in donations are expected to be resolved. Through the blockchain, it will become possible to check how donations are being used in all processes such as fundraising, distribution, and use.

BC Card (CEO Choi Won-seok) announced on September 30 that it has signed a business partnership agreement with the Green Umbrella Children's Foundation (Chairman Lee Je-hoon) and E4NET (CEO Lee Soo-jung).

The business agreement ceremony, which was held at BC Card headquarters in Jung-gu, Seoul at 10 a.m., was attended by officials such as Choi Won-seok, CEO of BC Card, Lee Je-hoon, chairman of the Green Umbrella Children's Foundation, and Lee Soo-jung, CEO of E4NET.

Until now, there have been cases in which blockchain technology has been partially applied in the process of raising and executing donations. On the other hand, some pointed out that it is necessary to secure trust in the details of use because beneficiaries still receive donations in cash.

Based on this agreement, each company will establish a complete donation platform for the first time in Korea that guarantees the entire process from fundraising to beneficiary use by combining card payment and blockchain technology.

All processes such as fundraising, distribution, and use are transparently managed through the only blockchain-based donation platform in Korea that applies ISO standards. In particular, donations are charged with BC prepaid cards instead of cash and delivered to beneficiaries, so donors can also check whether they are used properly in real time.

Customers who want to deliver donations to beneficiaries with BC prepaid cards can select the campaigns they want to support on the website of the Green Umbrella Children's Foundation and the CHERRY app and pay as much donations as they want in various ways, such as cards and account transfers. The service is scheduled to open within this year. (The donation delivery method may be changed depending on the contents of the campaign.)

“We will continue to strengthen ESG management leadership by securing transparency in donation management by establishing a platform that combines card payment functions and blockchain technology”, said by BC Card CEO Choi Won-seok.