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Tencent’s 99 Giving Day Becomes a Charity Phenomenon in China

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Shenzhen, China–(Newsfile Corp. – September 1, 2022) – This year’s Tencent Charity Foundation Giving Day is set to kick off in early September. It is now in its 6th installment and helps donors quickly and easily support thousands of projects across China using simple, effective, and easy-to-use apps.

When Tencent’s 99 Giving Day first launched the “Children’s Gallery” charity project for the Shanghai Yitu Public Welfare Foundation (WABC) five years ago, few expected the outpouring of support that the project received. Within a few hours, 15 million people donated, forever changing the charity landscape in China. Since then, over 13,000 children at WABC have benefited from the program. Tencent has now taken the project a step further by providing the little artists at the school with AI painting tools, allowing these artistic dreamers to become teachers of art, and helping them give back to society.

How Tencent’s 99 Giving Day Works

The way donations work on Tencent’s platform is simple. Using WeChat – Tencent’s instant messaging, social, and mobile payments app for a billion users – donors can browse charitable causes and donate any amount they wish, all with a few swipes of their fingers. Within the app, they can make micro-donations via WeChat Pay, set up project pages and storefronts, customize posters and branding, and socially share projects, achievements, and fundraising goals with their friends and social circles.

Thanks to the gamification of giving and incentivization via “Little Safflower” rewards that donors receive for contributing to causes, 99 Giving Day helps encourage active participation in charitable causes. In 2021 alone, the Little Safflower charity campaign engaged 125 million people. Since its inception, 99 Giving Day’s formula has proven to be revolutionary for mobilizing individuals and organizations toward beneficial charity projects across the country.

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Building on Social and Community Ties

In a recent interview, Ge Yan, the Secretary General of the Tencent Charity Foundation, said that the concept of your hometown is extremely important in Chinese culture. “The same can be said about your family, friends, and neighbors,” she continued. Ge Yan says that, by tapping into these connections, 99 Giving Day encourages people to donate to projects, programs, and initiatives that they are interested in or hold dear to heart. Using WeChat and being active on 99 Giving Day, they are also better able to spread awareness about specific projects and encourage others in their social, personal, and professional circles to raise money for worthy causes.

The Power of the Tencent Model

One of the more successful 99 Giving Day projects has been the WABC case study mentioned earlier, but many other projects in the country operate in the same spirit, such as the Happy Homeland project, which is operated by the Hubei Charity Federation. This project has helped impoverished farmers in the Guidan region sell sweet potatoes online, and it generated over one million RMB and subsequently lifted over 500 individuals out of poverty since its inception in 2018.

While there are many charitable causes and events to choose from in China, Tencent’s 99 Giving Day stands alone as the model that others aspire to. Since it first started in 2015, the 99 Giving Day event has generated approximately $1.45 billion in charitable donations from over 224 million users. During this time, the number of donors grew over 30-fold, from roughly two million in 2015 to over 68 million last year. Donations grew by almost the same amount, multiplying by a factor of 27 to grow from RMB 127 million in 2015 to almost RMB 3.5 billion in 2021. Tencent also contributed matching donations of between RMB 99 million and RMB 399 million to selected projects every year for 99 Giving Day.

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Expert Views on 99 Giving Day

99 Giving Day brings together digital transformation, social engagement, effective branding, and gamified and tokenized charity to drive powerful results. According to Jin Jinping, Director of the Law Research Institute at Peking University Law School, 99 Giving Day is a welcome game-changer for global philanthropy. He cited the widespread public participation in charity, the effective and efficient redistribution of resources via digital apps, and the decentralization of charity powered by the festival as reasons it has been so successful.

These sentiments were echoed by Wang Zhenyao, head of the China Philanthropy Research Institute of Beijing Normal University. He said that 99 Giving Day is “an excellent social project” and that 99 Giving Day brings individual passions and group enthusiasm to the charity space. He also said that 99 Giving Day has turned simple donations and fundraising into an effective process that builds more awareness and engagement across wide sectors of society – something that was perhaps not possible and certainly never was done before on such a grand scale.

Going back to Ge Yan of the Tencent Charity Foundation, these are exactly the goals of 99 Giving Day. “Our platform is designed to connect quality organizations and quality projects with caring netizens,” she says, and charitable giving can then become a habit. “It allows large populations to, at any time of the day, donate to projects that they are interested in. While the charity culture in China has developed rapidly, there are now more people willing to donate their compassion. When you buy a cup of coffee or watch the news and want to donate something, we make it easy and convenient for people to do this.”

“Many small acts of love create great love,” says Ge Yan. “If everyone contributes a little, it will combine and make a great movement: a country full of devotion, a society full of love.”

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For more stories on how charitable donations are changing lives in China and for more information on Tencent’s upcoming 99 Giving Festival, please reach out to Jasmine Wang at [email protected].

Resources:

“Children’s Gallery” charity project: https://www.cmovip.com/mobile/detail/21670.html
Tencent’s “Little Safflower” Charity Campaign: https://www.tencent.com/en-us/articles/2201215.html
The Secretary General of the Tencent Charity Foundation’s interview: https://www.youtube.com/watch?v=7LD0IrWxaTY
Making charity a habit: https://chinadevelopmentbrief.org/reports/the-tencent-example-making-charity-a-habit/

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/135194

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Blockchain

Digital Payment Gateway Market Industry Trends and Opportunities 2030, with Competitor Analysis for PayPal, Stripe, Adyen, Worldpay, Razorpay Software, Mollie, BlueSnap, Klarna Bank and Dwolla

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digital-payment-gateway-market-industry-trends-and-opportunities-2030,-with-competitor-analysis-for-paypal,-stripe,-adyen,-worldpay,-razorpay-software,-mollie,-bluesnap,-klarna-bank-and-dwolla

Digital Payment Gateway Market

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Humanity Protocol Collaborates with OKX Wallet to Redefine Decentralized Identity Verification and Reward Users

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Humanity Protocol, a $1 billion decentralized, privacy-first digital identity blockchain project, is excited to announce its collaboration with OKX Wallet, which will serve as an identity validator for its testnet ecosystem. This collaboration introduces a seamless way for users to engage with decentralized identity while offering unique rewards for OKX Wallet participants.
Testnet users signing up with OKX Wallet will receive a 10% bonus in their airdrop allocation during the token launch. By connecting their OKX Wallet during the Humanity Protocol testnet registration process, participants will be issued a verifiable credential that confirms wallet ownership. This credential ensures fair distribution and protects user privacy, creating a seamless and secure onboarding experience.
Verifiable credentials form the foundation of Humanity Protocol’s decentralized identity system. These credentials validate wallets as unique OKX Wallet users, safeguarding the ecosystem from fraud, such as duplicate registrations and Sybil attacks. While operating behind the scenes, they play a critical role in maintaining transparency and fairness while enabling privacy-first participation in the network.
“We are thrilled to collaborate with OKX Wallet for our testnet,” said Terence Kwok, Founder of Humanity Protocol. “This collaboration strengthens our mission to create a secure, decentralized identity network. By combining Humanity Protocol’s privacy-preserving solutions with OKX Wallet’s trusted infrastructure, we’re not only simplifying user participation but also fostering trust and fairness across the ecosystem. Together, we aim to set a new standard for privacy and transparency in the blockchain space.”
OKX Wallet, known for its user-friendly design and robust security, plays a critical role in this collaboration by enabling secure wallet verification and streamlining user participation.
Humanity Protocol is dedicated to building a decentralized future rooted in privacy and security. By integrating OKX Wallet as an identity validator, the protocol ensures a trustworthy network that benefits both participants and the broader blockchain community.

The post Humanity Protocol Collaborates with OKX Wallet to Redefine Decentralized Identity Verification and Reward Users appeared first on News, Events, Advertising Options.

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Blockchain

Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity)

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blocks-&-headlines:-today-in-blockchain-(brics,-hungri-games,-nano-labs,-metahorse-unity)

 

Building Customer Trust in AI with Blockchain

Blockchain is emerging as a critical tool in addressing the trust deficit in artificial intelligence. By leveraging decentralized ledgers, companies can provide transparent data provenance, ensuring that AI algorithms operate ethically and without bias. This integration allows customers to verify the origins of data used in AI models, fostering greater confidence.

Businesses deploying blockchain for AI governance must prioritize simplicity and accessibility in their implementations. While the technology’s potential is immense, it is essential to communicate its benefits in a manner that resonates with non-technical stakeholders.

Source: Harvard Business Review

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Blockchain at a Crossroads: Balancing Promise and Peril

As blockchain technology matures, it finds itself at a crossroads. On one side, the promise of decentralization continues to captivate industries, offering solutions for supply chain management, finance, and digital identity. On the other, challenges such as regulatory scrutiny, scalability issues, and energy consumption threaten to impede its growth.

The path forward will require a concerted effort from developers, regulators, and industry leaders. Collaborative frameworks that address these challenges while preserving blockchain’s core principles of decentralization and transparency are key to ensuring its sustained relevance.

Source: Cointelegraph


BRICS vs. USD: Blockchain’s Role in Economic Shifts

The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring blockchain-based solutions to reduce their reliance on the US dollar in international trade. By adopting decentralized technologies, these nations aim to foster economic independence and promote stability in the face of geopolitical tensions.

This initiative exemplifies blockchain’s potential to redefine global financial systems. However, its success hinges on addressing interoperability issues and fostering international collaboration. The evolution of blockchain-based trade networks could mark the beginning of a new era in economic diplomacy.

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Source: CoinGeek


Hungri Games Expands MetaHorse Unity to Base Blockchain

Hungri Games has announced the expansion of its MetaHorse Unity project to the Base blockchain, aiming to enhance the gaming experience with improved scalability and lower transaction costs. This move aligns with the growing trend of integrating blockchain into gaming to create transparent and secure ecosystems.

By adopting Base, a layer-2 blockchain, MetaHorse Unity seeks to offer players a seamless and cost-effective gaming experience. The partnership highlights the potential of blockchain to transform the gaming industry, enabling innovative monetization models and fostering player engagement.

Source: CoinTrust


Nano Labs Purchases Trump Tokens to Celebrate Presidency

Nano Labs commemorated former President Donald Trump’s legacy with the acquisition of 47 Trump Tokens. This symbolic gesture underscores the intersection of blockchain technology and cultural milestones, showcasing how tokens can represent historical and social narratives.

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The purchase also highlights the increasing role of blockchain in creating unique, tradable assets that capture moments in time. As tokenization continues to gain traction, it is redefining how value and significance are assigned in the digital age.

Source: PRNewswire


Final Thoughts: Blockchain’s Expanding Horizons

This week’s developments highlight the diverse applications of blockchain technology, from fostering trust in AI to reshaping global economic systems. As the industry navigates challenges and opportunities, collaboration and innovation will be crucial in unlocking blockchain’s full potential.

While hurdles such as scalability and regulation persist, the technology’s ability to drive transparency, security, and inclusivity remains unparalleled. The coming years will undoubtedly see blockchain continue to evolve, solidifying its role as a transformative force across sectors.

 

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The post Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity) appeared first on News, Events, Advertising Options.

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