A South Korean holdings company has reportedly forked Ripple in an effort to develop donation platform.

SK C&C has recently revealed its plan for a donation platform that is based on Ripple Blockchain fork which will be a stable coin linked at a 1:1 ratio to the Korean Won.

According to a local mainstream news outlet the donations platform is still strictly in the planning phase as there are still certain issues that needed to be addressed before the project can move forward.

The head of the company, Lee Sun-min has revealed that issues with regulations and infrastructure development presents barriers to launching their proposed platforms and is currently looking for a company to build for them a platform ecosystem.

The platform is called ChainZ and will rely on the won-backed stablecoin Social Value Coins (SVC) for making donations, and employ the utility token Social Value Power (SVP) to reward benefactors.

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