SK C&C to Provide Digital Currency Issuance and Operation Services

Yesterday SK C&C announced that it would provide blockchain-based local digital currency issuance and operation services through its own blockchain platform Chainjet. The new service was created by combining the existing Chainjet platform with the donations platform Warm Change and the Social Value (SV) program that is tied with Warm Change.

Through the new service, local governments can issue local currencies as Social Value local money, similar to how donations made on Warm Change are done exclusively with Social Value Dollars (SVD).

A representative from SK C&C explained that through the new blockchain-based service, it would be possible to handle everything from issuing the local currencies and promoting local social welfare and public interest projects to creating abstract social value by connecting local organizations.

The biggest listed advantage of the local/regional digital currency issuance service is that it can be highly customized. Any digital currency program launched from the new service can offer discounts or additional digital currency rewards such as cash back for purchases using the digital currencies as a way to incentivize their use.

Digital currencies made on the platform can be returned as a tax-deductable donation to a charity approved by the local government. These donations could be used as rewards for local volunteers or as charity for the needy. The Warm Change donations platform will play a pivotal role in that aspect of the new service.

Users will also be able to create their own donations or crowdfunding campaigns. This is a capability provided again by the Warm Change platform. In this way, the service acts as a grassroots charity platform where other users on the platform can make donations to the campaign they design.

Users will be able to create their own digital currency wallet by accessing SV local currency web app and signing up for membership. They can also track every step their donations make on the service will clear transparency in order to ensure that their charitable donations are being used in good faith.

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