The Naver Founder’s Chosen Blockchain Venture: "Making Donation Records Transparent"

Promoting the Development of the 'Givefy' Donation Platform
by Bloom Technology, Happybean, and One Humanity

A global project aimed at enhancing transparency by using blockchain technology to track donation usage in real time is being promoted.

Kwon Hyuk-il, co-founder of Naver, Lee Sang-yoon, CEO of Bloom Technology, and Evan Klassen, CEO of One Humanity Foundation (from left). Photo by Bloom Technology

Blockchain technology company Bloom Technology announced on the 4th that it is collaborating with Kwon Hyuk-il, chairman of Happybean and co-founder of NAVER, and Evan Klassen, CEO of the One Humanity Foundation, to develop a Web3 donation platform called 'Givefy.'

Givefy is a compound word of Give and Finance, representing a new type of donation platform integrated with blockchain technology.

While existing donation systems have faced difficulties in securing trust due to the lack of transparency in the use of donated funds, Givefy enables real-time tracking of donation records using blockchain.

Givefy plans to expand donor participation by partnering with NAVER’s donation platform Happybean. It aims to widely promote social contribution activities together with global influencers engaged in social good and establish a global social contribution ecosystem where participants receive rewards for their activities.

Bloom Technology will support the establishment of a system that safely and transparently manages the flow of donations within Givefy by utilizing its next-generation blockchain protocol, 'Locus Chain.' Locus Chain features high-speed processing capable of handling thousands of transactions per second, a low-fee structure, and data tampering prevention technology.

Example of the GivePie platform screen. Provided by Bloom Technology

One Humanity, a global nonprofit social contribution organization, plans to leverage its network in connection with Givefy to organize social contribution campaigns involving participation from prominent global figures. It will help build Givefy’s global social contribution network by attracting institutions and individuals in need, as well as donors, to the platform.

Kwon Hyuk-il, chairman of Happybean and co-founder of NAVER, leads the Givefy project. He stated, "We will provide a social contribution activity system that anyone in the world can trust and create a new social contribution ecosystem that can actively engage international organizations such as the United Nations (UN) and prominent global figures."

Lee Sang-yoon, CEO of Bloom Technology, said, "Based on the unique technology of Locus Chain, which can process a large volume of transactions at ultra-high speed, we hope to build a more efficient global donation system that contributes to social development."