Volunteer cryptocurrency developers in Iran have created a blockchain platform called IranRescueBit, which allows people to make charitable cryptocurrency donations to aid regions in the country in recovering from destructive flooding. According to the report, the platform supports donations in Bitcoin, Ether and Litecoin. IranRescueBit reportedly allows donors to dodge American sanctions that have insofar prohibited international donations to the Iranian Red Crescent Society, which is a non-governmental humanitarian society within Iran.

IranRescuebit executive director Hamed Salehi told Al Jazeera that the platform's campaign is hoping to facilitate one month of crypto donations before using local exchanges to convert the cryptocurrencies into Iranian rials. Record rainfalls in April gave way to destructive flooding that resulted in 70 deaths in 13 provinces with the highest casualties in Fars, Lorestan, Golestan and Hamedan, according to CNN. As previously reported by Cointelegraph, the South Korean holding company SK C&C recently unveiled a scheme for a blockchain-based donations platform.

As per the report, the platform will allow users to make donations and in return receive incentives tokens, which can apparently be used to buy merchant items. "Since SK is a company, we cannot pursue profits in won stablecoins. Regulatory issues are not solved, too It's hard to build a platform ecosystem Not just a single company can do it.

We are currently looking for a company to build a platform ecosystem..