CHERRY, the nation's first blockchain-based charity platform, has surpassed 8 billion won in cumulative donations, spurring the change in the donation flow of society.
Launched in December 2019, CHERRY took about 11 months to achieve 3 billion won after achieving 1 billion won in sponsorship within 15 months of its launch. The achievement of 8 billion won in sponsorship is the achievement in about two months after surpassing 7 billion won in cumulative sponsorship within three years of the launch of the CHERRY charity platform.
So far, a total of 334 organizations have conducted 1,632 donation campaigns through CHERRY. Donors have donated a cumulative 120,833 cases, and not only individuals but also businesses can donate through CHERRY.
CHERRY is pushing the limits of existing donation systems through blockchain technology. When a donor makes a donation, it is recorded in real time on the blockchain when, to whom, and how much it was used through the organization's report. As transparent transactions take place through blockchain technology, many sponsors believe in CHERRY and donate to CHERRY.
CHERRY is especially popular among young people. The new technology called blockchain was able to attract the attention of young people who were less interested in donations in that it felt close to young people and gave them a high sense of trust. Moreover, a simple payment system that allows donations to be made just by clicking through the CHERRY app without a difficult process has also led to donations from middle-aged and elderly people.
CHERRY charity platform CEO Lee Sujeong said, "Since the launch of CHERRY, CHERRY has been able to grow because there have been many sponsors so far," adding, "CHERRY will lead transparent and warm donations with blockchain technology and will develop to further flow good influence on society."