The fundraising platform Fun in Funding (轻松筹) hosted a philanthropic ceremony in Beijing on the 23rd of January, working alongside two media agencies, ELLE and Sina Charity. Charities including the Chinese Red Cross Foundation, the Overseas Chinese Charity Foundation of China and the China Development Research Foundation all attended the ceremony, which also included some stars.
At the ceremony, Fun in Funding unveiled its Philanthropy White Paper (《公益白皮书》). As explained in the white paper, Fun in Funding owns more than 190 million registered users, and it has collected nearly 20 billion Yuan for 160 families who have members suffering from critical illnesses. It covers 224 cities in China and 183 countries and regions worldwide, and has received funding for over 400 million times. Aside from crowdfunding, the platform has also developed an insurance business with 20 million members.
Fun in Funding is devoted to innovating the fundraising model and creating a transparent and open environment for fundraising. To do this it has turned to blockchain, the new technology that can record transactions between different parties in a verifiable and permanent way. In collaboration with six foundations, the platform has launched a “charity alliance blockchain”. As the blockchain can’t be tampered and forged, the transparency, authenticity and effectiveness of the donation information can this way be guaranteed.
In addition, Fun in Funding has set up an industrial alliance with more than 50 foundations, collecting more than 100 million yuan. The collaboration between the platform and the foundations is meant to uphold the foundations’ efficiency in collecting donations, while breaking the boundaries of traditional policies and fundraising forms. This way the platform and the foundations can make use of their respective advantages, while promoting the development of philanthropy.
As the CEO Yang Yin pointed out, behind every one of Fun in Funding’s crowdfunding projects is a desperate family. The platform has constructed a full-scale health insurance system with four components to help these families. The first component is providing insurance. The second component is a cooperation system, where every member contributes 10 yuan to create a foundation. Those who fall ill are allowed to receive money from the foundation for medical treatment. The other two components function as supplements, aiming to assist patients with critical illnesses. Yang Yin expressed her hope that every family should find the courage and power to face their disease through the platform’s help.
