BCB Blockchain, a Singapore based blockchain firm has signed a memorandum of agreement (MoA) with a branch of the Philippines’ Department of Science and Technology (DOST) to support the development of local smart cities.
On Nov. 23 as per a press release, BCB Blockchain contributed to $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).
Focus on Building Smart Cities
The merger will facilitate the development of local startups that are focused on the creation of smart city projects.
The company reportedly has also partnered with local educational establishments to provide expertise and contributions to:
- Research and development
- Promotional activities
- 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.”
Philippines Embraces Blockchain
In September Abra, an investment app provider announced that is preparing to sell cryptocurrency for cash at 6,000 outlets across the Philippines.
In the meantime, Philippine Senator Grace Poe said that local lawmakers should not be in a hurry to pass financial technology 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.”
Source: Cointelegraph | Image: ACCESS