South Korean company SK C&C has unveiled plans for a donation platform that's based on a Ripple blockchain fork. Moreover, the platform can support a stablecoin linked at a 1:1 ratio to the won, as well as a utility token.

South Korean news daily Chosun reported regarding the company’s initiative on August. 9. Per the report, the donation platform remains strictly within the planning phase. SK C&C head Lee Sun-min explained that problems with regulation and infrastructure development present barriers to launching their projected platform:

"Since SK is a company, we cannot pursue profits in won stablecoins. Regulative problems don't seem to be resolved, too [...] It's hard to create a platform ecosystem [...] Not simply a single company can do it. We are presently searching for a corporation to create a platform ecosystem.”

As far as the details of the donation system are concerned, the platform — dubbed “ChainZ” — can rely on the won-backed stablecoin Social value Coin (SVC) for making donations, and use the utility token Social value Power (SVP) to reward benefactors.

As per the report, people who donate SVCs to some cause can receive a thousandth of their total in SVPs. As an example, the report says that donating 50,000 SVCs can lead to receiving 50 SVPs. SVPs will supposedly be accustomed to get merchant items.

SK C&C is that the company of SK group with services in multiple aspects of trade as well as IT, logistics, finance, and communications and media. The firm has AN annual revenue of $53.8 billion per Owler.

Blockchain for social good

As antecedently reported by Top Market Group, the Binance Charity Foundation declared that they'd plan to unharness a token to support women’s health in July. As per the announcement, 46 organizations, as well as Ripple, partnered to promote the “Pink Care Token” (PCAT) for supporting women’s health in developing countries. PCAT is issued on Binance Chain as a redemption-only token, which can go towards a year’s supply of sanitary supplies. The first cargo of supplies is scheduled for mid-July and can be sent to an area in Uganda.

To know more on Cryptocurrency and Blockchain events, follow us on Facebook, YouTube,  Twitter, LinkedIn, Reddit, Telegram, BitcoinTalk, and we are also on Medium now