Blockchain Association Singapore Raises S$120,000 for NTUC-U Care Fund

SINGAPORE, July 28, 2022 /PRNewswire/ -- As part of the Singapore Blockchain Week 2022, Blockchain Association Singapore (BAS) and the National Trades Union Congress U Care Fund (NTUC-U Care Fund) jointly hosted the Blockchain for Good Gala Dinner 2022 on Tuesday, 26 July to recognise BAS corporate members who have contributed to the charity campaign that was held from 25 June to 26 July 2022. This charity campaign raised a total of S$120,000 from BAS corporate members, namely CTH Foundation & Atlas, NCS Pte Ltd, Nexia TS, and Rubix. The event was graced by the Guest-of-Honour, Mr Desmond Tan, Minister of State, Prime Minister's Office and NTUC Deputy Secretary-General, who witnessed the presentation of a $100,000 cheque from CTH Foundation to NTUC-U Care Fund.

The Blockchain For Good campaign is a joint initiative between BAS and NTUC-U Care Fund aimed at supporting where the proceeds will go towards supporting the charity's various assistance programmes.

The NTUC-U Care Fund was established in 2009 to consolidate the Labour Movement's fundraising efforts to better the welfare of low-income union members and their families. Since its inception, the NTUC-U Care Fund has strived to make a difference in the lives of its low-income members and their families by helping them to lessen their financial burden.

Commenting on Blockchain For Good, Mr Chia Hock Lai, Co-Chairman of BAS said, "This is the second year running a charity campaign in support of NTUC-U Care Fund that has raised more than $120,000 worth of funds to help lower-income union members and their families. It is indeed heart-warming that our BAS Members still come forward as donors despite the impact of the slowdown in the technology sector. I hope this unique initiative will pique the interest of corporates and individuals to come on board through similar means for us to make this a sustainable fundraising effort for a worthy cause."

Guest-of-Honour Mr Desmond Tan, NTUC Deputy Secretary-General, said, "We are grateful towards all donors who have contributed to the campaign. Amidst rising cost of living, the proceeds will provide an additional boost, to tide our workers through these difficult times. We look forward to the continued partnership with BAS, where we can continue to better the welfare of our lower-income workers and their families."

Jack Wang, Finance Director of CTH Group said, "It is our privilege to be involved in the Blockchain For Good initiative organized by BAS to help all those families in need. CTH Group and its affiliates IDEG, Atlas and Fundamental Labs are all committed to Singapore market and will continue to actively support local community. It is also part of our global ESG plan to practice Tech for Good and contribute to building a more inclusive society."

About Blockchain Association Singapore

The Blockchain Association Singapore (BAS) seeks to empower its members and the community to leverage blockchain and scalable technologies for business growth and transformation.

The Association is designed to be an effective platform for members to engage with multiple stakeholders – both regional and international – to discover solutions and promote best practices in a collaborative, open, and transparent manner. It aims to promote blockchain literacy and build a strong talent pipeline for the digital economy in Singapore.

For more information, please visit: https://singaporeblockchain.org

About Blockchain For Good

Blockchain For Good (BFG) is a Corporate social responsibility (CSR) initiative of the Blockchain Association Singapore (BAS). We have been supporting the PolyFinTech100 API hackathon for the past few years whereby we groom talented poly students in the areas of blockchain.

In 2021, we decided to expand our CSR to run an NFT Charity Auction with the NTUC-U Care Fund, to raise funds for supporting various assistance programmes, including helping families defray their cost of living and their children's school expenses, as well as caring for the elderly.  This year, the charity campaign took place from 25 June to 26 July 2022.

About NTUC-U Care Fund

The NTUC-U Care Fund was established in 2009 to consolidate the Labour Movement's fundraising efforts to better the welfare of lower-income union members and their families. Through the collective efforts of the NTUC-affiliated unions, association and social enterprises, together with management and tripartite partners, over $110 million has been disbursed since 2009 to help workers affected by the economic downturn and fund our assistance programmes. Since its inception, the NTUC-U Care Fund has strived to make a difference in the lives of its lower-income members and their families by helping them to lessen their financial burden.

For more information, please visit : https://www.ntuc.org.sg/wps/portal/up2/home/aboutntuc/ucare