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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.

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.

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.”

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

Newsfile is a customer-focused newswire team that delivers press releases and corporate announcements to the global financial community. Approved by all stock exchanges, Newsfile offers broad access to media, analysts, investors and market participants. With agile services, proactive customer care and affordable pricing; Newsfile makes it easy for companies to tell their story to the audiences they need to reach.

Blockchain

39% of Canada’s institutional investors have exposure to crypto: KPMG

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According to a report from CoinTelegraph, nearly forty percent of institutional investors in Canada have exposure to cryptocurrency, as revealed by KPMG. This finding underscores the growing acceptance and adoption of digital assets among institutional investors in the country.

The report indicates that a significant portion of institutional investors in Canada are actively investing in or exploring opportunities in the cryptocurrency market. This trend reflects a shift in sentiment towards digital assets, with more investors recognizing the potential for long-term growth and diversification offered by cryptocurrencies.

KPMG’s findings highlight the increasing mainstream acceptance of cryptocurrencies among traditional investors, as well as the growing interest in blockchain technology and its potential applications across various industries. As institutional investors continue to enter the cryptocurrency market, they are expected to bring additional capital and liquidity, further fueling the growth and maturation of the digital asset ecosystem.

Overall, KPMG’s report signals a significant milestone in the adoption of cryptocurrencies in Canada, indicating that institutional investors are increasingly recognizing the value proposition of digital assets and integrating them into their investment portfolios. This trend is likely to accelerate the broader adoption and mainstream acceptance of cryptocurrencies in the country and beyond.

Source: cointelegraph.com

The post 39% of Canada’s institutional investors have exposure to crypto: KPMG appeared first on HIPTHER Alerts.

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Blockchain

BounceBit (BB) Megadrop Now Open: Participate by Subscribing to BNB Locked Products or Completing Web3 Quests

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bouncebit-(bb)-megadrop-now-open:-participate-by-subscribing-to-bnb-locked-products-or-completing-web3-quests

The BounceBit (BB) Megadrop is now open for participation, as announced by Blockchain.News. This event presents an exciting opportunity for users to earn BB tokens by engaging in various activities, including subscribing to BNB locked products and completing Web3 quests.

Participants can join the BB Megadrop by subscribing to BNB locked products or completing Web3 quests, both of which offer different avenues for earning BB tokens. By participating in these activities, users have the chance to accumulate BB tokens and potentially benefit from the rewards associated with the Megadrop.

Subscribing to BNB locked products allows users to earn BB tokens by locking their BNB assets for a specified period. This not only provides users with an opportunity to earn rewards but also contributes to the liquidity and stability of the BounceBit ecosystem.

Additionally, completing Web3 quests offers users an alternative way to earn BB tokens by engaging in various tasks and challenges related to Web3 technology. These quests provide users with a fun and interactive way to learn about blockchain and cryptocurrency while earning rewards in the form of BB tokens.

Overall, the BB Megadrop presents an exciting opportunity for users to participate in the BounceBit ecosystem and earn rewards by engaging in activities that contribute to the growth and development of the platform. As the Megadrop progresses, participants can look forward to additional opportunities to earn BB tokens and potentially benefit from the rewards associated with this event.

Source: blockchain.news

The post BounceBit (BB) Megadrop Now Open: Participate by Subscribing to BNB Locked Products or Completing Web3 Quests appeared first on HIPTHER Alerts.

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Blockchain

Cronos collaborates with KYVE to revolutionize Blockchain Data

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Cronos, a prominent blockchain platform, has announced a collaboration with KYVE aimed at revolutionizing blockchain data, as reported by CryptoNewsZ. This partnership represents a significant step forward in enhancing the efficiency and scalability of blockchain data storage and retrieval.

The collaboration between Cronos and KYVE seeks to leverage KYVE’s decentralized data storage and retrieval solution to enhance the capabilities of the Cronos blockchain platform. By integrating KYVE’s technology, Cronos aims to address the challenges associated with storing and accessing large volumes of data on the blockchain, such as scalability and cost-effectiveness.

KYVE’s decentralized data storage solution utilizes a network of distributed nodes to store and retrieve data, ensuring high availability and reliability. This approach not only improves the efficiency of data storage and retrieval but also enhances the security and resilience of the blockchain network.

The partnership between Cronos and KYVE is expected to unlock new possibilities for decentralized applications (dApps) and smart contracts built on the Cronos platform. By providing a more efficient and scalable solution for blockchain data management, Cronos aims to attract developers and enterprises seeking to leverage blockchain technology for a wide range of applications.

Overall, the collaboration between Cronos and KYVE represents a significant development in the blockchain industry, highlighting the importance of innovation and collaboration in driving the evolution of decentralized technologies. As the partnership progresses, it is poised to deliver transformative benefits for blockchain data management and accelerate the adoption of decentralized applications and services.

Source: cryptonewsz.com

The post Cronos collaborates with KYVE to revolutionize Blockchain Data appeared first on HIPTHER Alerts.

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