BC Card, Korea's First Complete Blockchain Donation Platform Established

ChildFund Korea and Eponet Establish Platform for Donation via Cards
Transparent Recording and Disclosure of All Donation Execution Details

[Asia Economy Reporter Ki Ha-young] BC Card is launching a new donation platform where every detail of the donation execution stage is recorded and disclosed.

On the 30th, BC Card announced that it signed a business partnership agreement with Green Umbrella Children’s Foundation and Eponet to 'build a donation platform utilizing blockchain.'

Through this agreement, a donation platform integrating BC Prepaid Card and blockchain technology was established, creating the first complete blockchain donation platform in Korea that guarantees transparency in the use of donations.

Although blockchain technology has been partially applied in the donation collection and execution process before, there have been ongoing concerns about trust in the use of donations since the funds were delivered to beneficiaries in cash. However, when donations are provided via BC Prepaid Card instead of cash, it becomes possible to verify the actual usage by the beneficiaries.

Furthermore, donors who had concerns about distrust in donation management are expected to be reassured. Through the only blockchain-based donation platform in Korea applying ISO standards, all processes including collection, distribution, and usage are transparently managed. Additionally, donors can check usage details anytime via applications (apps) if they wish.

Customers who want to deliver donations to beneficiaries via BC Prepaid Card can select the campaign they want to support on the Green Umbrella Children’s Foundation website and the Eponet Cherry app, then pay the desired amount of donation through various methods such as card or bank transfer. This service is scheduled to open within the year.

Choi Won-seok, CEO of BC Card, said, "By building a donation platform incorporating card payment functions, we will secure transparency and strengthen ESG (Environmental, Social, and Governance) management leadership," adding, "We will continuously contribute to spreading a culture of sharing that customers can trust."

This content was produced with the assistance of AI translation services.