(Yicai Global) Sept. 4 -- Tencent Holdings has emphasized transparency, achieved by applying blockchain, in its annual philanthropic campaign 99 Charity Day this year.

The tech giant has debuted the decentralized public ledger on its charity crowdfunding platform Tencent Charity to make tracking donations more reliable and an increasing number of organizations are using the technology, the Shenzhen-based firm said in a statement yesterday.

Moreover, Tencent Charity has set up an open-source model to help organizations in the field manage donations via cloud computing. So far, some 50 institutions have participated in the software-as-a-service program while the number should reach 100 by the end of this year.

Initiated in 2005, the annual campaign has raised CNY2.5 billion (USD365.5 million) in total. Meanwhile, Tencent Charity has gained 97.6 million users who have donated CNY3.9 billion over the past five years.

Tencent's welfare-related ecology is facing more opportunities and challenges once the Covid-19 pandemic is beat, said Chen Yidan, founder of the Tencent Charity Foundation. Tencent Charity will use more technologies and join hands with public welfare partners to deepen transparency, digitalization, and ecological efficiency, he added.

Editor: Emmi Laine