Philippines Partners with BCB Blockchain Firm
November 24, 2019 2:06 pm
BCB Blockchain, Singapore-based blockchain company has signed a memorandum of agreement (MoA) with the Philippines Department of Science and Technology (DOST) to develop local smart cities. The firm announced in a press release that it has contributed $300,000 to support incubators and startup accelerators in the Philippines by signing an MoA with the Philippine Council for Industry, Energy, and Emerging Technology Research and Development (PCIEETRD).
The partnership aims to facilitate the development of local startups focused on the creation of smart city projects and applications. Moreover, the firm has reportedly partnered with a range of local educational establishments to provide its expertise and contributions to research and development, promotional activities, hackathons, collaborative endeavors, and other projects for smart city or blockchain development.
Douglas Gan, CEO of BCB Blockchain, said:
“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.”
In the previous year, Five banks in the Philippines announced that they will be teaming up to use Visa’s blockchain-based payment platform. According to the report, as a part of the new project, the Union Bank of the Philippines (UnionBank) will be helping four unnamed rural banks that are seeking to grow the efficiency of their payments process through building a local platform based on top of Visa’s B2B Connect system. UnionBank is the first bank in the Philippines to use B2B Connect.