Philippines Inks MoA With BCB Blockchain For Smartcity Development
BCB Blockchain, a Singapore headquartered firm, inked a memorandum of agreement (MoA) with a division of the Philippines’ Department of Science and Technology (DOST) to back the creation of smart cities locally.
In Philippines, BCB blockchain inked MoA with the Philippine Council for Industry, Energy, and Emerging Technology Research and Development (PCIEETRD and backed incubators and startup accelerators by donating $300,000.
The joint program aims to support the creation of domestic startups centered on the development of smart city ventures and apps.
Furthermore, the company has supposedly collaborated with a series of domestic educational institutions to offer its proficiency and contributions to R&D, hackathons, marketing pursuits, partnership projects and other endeavors for smart city or blockchain advancement.
Douglas Gan, CEO of BCB Blockchain, stated:
“By providing DOST, universities and TBIs the resources and technical knowledge that BCB Blockchain has, we expect them to deepen their competencies in the area of designing and developing applications and projects for smart cities. We will guide and provide them the access to hands-on workshops, funding, materials, events and technical support.”
During the second-quarter, the Department of Information and Communications Technology (DICT) of the Philippines inked a MoA with Monsoon Blockchain Storage, a US-based blockchain firm. Under the agreement, Monsoon will act as a blockchain consultant and advisor to DICT, offering benefits such as cost savings and socio-economic studies regarding blockchain platforms in the Philippines.
In the meanwhile, Grace Poe, Philippine Senator, stated that domestic legislators should not rush to endorse fintech regulation. Poe stated:
“To most of our countrymen, this is alien to them, but in fact some of them have been availing of it through online lending. And without the proper information and education, a lot of them are actually victimized.”