CHERRY is a Blockchain startup looking to offer a trustworthy and efficient solution for people to donate through their Blockchain-based fundraising platform. There has been a growing lack of trust in charities across the globe. The main reason is that most charities lack transparency in their operations, including how the donations are used. Many donors remain unaware of how their contributions are utilized, creating a significant trust barrier in fundraising efforts. CHEERY offers a fundraising platform for charities that donors can trust because all donations are tracked using an end-to-end Blockchain-based system.
As previously highlighted, trust and transparency is a huge factor when it comes to donations. A commonly overlooked fact is that a substantial portion of donations often goes towards administrative expenses rather than directly supporting the intended cause. These administrative fees are hidden from the public. Building on the importance of trust and transparency in donations, Cherry seeks to address this very issue. They want to create a platform where a large portion of the funds go to those in need instead of salaries, overhead, and marketing.
There have been many instances of fraud, mismanagement, and scandals associated with charities. One bad charitable organization can tarnish the reputation of the whole industry. It is vital for future charities to provide a clear, measurable outcome for their programs. In a digital age with many charitable organizations and online platforms, those using an end-to-end Blockchain platform like CHERRY would be the only way for donors to see for themselves how their funds are being used.
The focus on trust and transparency separates CHERRY from other fundraising platforms. They have gotten a lot of attention not only in the charitable sector but also in the Blockchain industry. To date, the company has raised $9 million in donations through over 1900 campaigns by over 380 charities. The key to their success lies with their microtracking system which allows donors to know when and where their donations have been delivered using Blockchain technology. Therefore, the whole donation flow is recorded on the Blockchain where donors can track each step of their donations.
By using Blockchain technology, CHERRY offers a transparent ledger of transactions. Through this ledge, donors can track their contributions in real-time, ensuring their donations reach the intended cause without any intermediary manipulation. Once recorded on the ledger, all transactions cannot be altered or deleted. In addition, people from anywhere in the world can donate to causes they support without concerns about international fees or currency conversions.
CHERRY also is looking to expand their services by offering users ways to not only donate but also earn rewards. Some of their top features include:
CHERRY plans to expand into Japan and soon to the United States. Their model includes providing subscription-based operational services to businesses and corporations interested in conducting their own charitable initiatives. CHERRY oversees and manages these campaigns, leveraging their platform to facilitate these efforts. Yanolja, renowned as one of South Korea’s leading travel and leisure startups, has initiated the use of Cherry’s kiosks within their offices as a pilot. This initiative marks a significant step towards potential collaboration. Currently, both entities are engaged in strategic discussions to explore the prospects of forming a partnership.
CHERRY is actively seeking a global marketing and sales partners to distribute their products globally. Their commitment to innovation and philanthropy is evident in their upcoming project: the 2024 launch of their Charity Shopping Mall. This online platform will allow charities to sell products, with Cherry earning a small commission on each sale. CHERRY will take a small commission for every sale. This forward-thinking strategy positions CHERRY at the forefront of blending technology with philanthropy.
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