Tencent Holdings Ltd said on Wednesday its 99 Giving Day campaign, an annual charity event running since 2015, will utilize blockchain technology this year to ensure transparency and traceability.

Data stored in blockchain cannot be tampered or fabricated, which digitizes social welfare initiatives and enhances security, according to a company press release.

"Tencent has gained extensive experience in the application of blockchain technology, such as in the tax field…There will be no need to worry about issues like 'data tampering'," said Ge Yan, secretary-general of Tencent Charity Foundation.

The adoption of blockchain is part of a three-pronged strategy for Tencent's philanthropical endeavors, namely transparency, digitization and ecological efficiency.

Tencent also launched a tech support platform this year to help charity partners better leverage digital capabilities in implementing philanthropy projects. The Chinese internet giant announced a "Public Welfare SaaS Project" to open up internal technologies to outside partners through open-source cooperation, in an initiative to digitalize and move projects to the cloud.

The company said some 50 organizations have already joined the partnership, and the number is expected to exceed 100 by the end of this year.

"Tencent will take advantage of the power of technology, partnering with more charitable organizations to promote transparency, digitization and improve the eco-efficiency of social philanthropy," said Chen Yidan, main founder of Tencent and the initiator and honorary chairman of the Tencent Charity Foundation.

By early September, Tencent Charity Foundation's social welfare online donation platform has attracted more than 356 million donations, and raised over 9 billion yuan ($1.31 billion) of funds, benefiting more than 92,000 social welfare programs.