BCB Blockchain, Singapore based technology firm, has announced that it would be providing strategic support and analysis to startup catalysts and incubators under the Department of Science and Technology (DOST). A press release on 23 November revealed signing up of a Memorandum of Agreement between BCB Blockchain and the Philippine Council for Industry, Energy, and Emerging Technology Research and Development (PCIEERD) – DOST.
The memorandum was signed at the third edition of the National Technology Business Incubator Summit (TBI Summit). It asserts the firm’s declaration for the development of startup projects by making use of the capital fund invested ($300,000) to plan out smart city projects and initiatives.
Teaming Up with Educational Institutions
Along with the collaboration, BBC Blockchain has also signed agreements with several educational institutions and start-up companies. The educational institutions in agreement with the project include Far Eastern University, De La Salle University-Manila, Technological Institute of the Philippines, Adamson University, Holy Angel University, Batangas State University, Technological University of the Philippines -Visayas, University of Southeastern Philippines, Caraga State University, Mindanao State University-Iligan Institute of Technology, Silliman University, and QBO Innovation Hub.
The collaboration will lead to growth in technological advancement resulting in better digital communities, increased digitalization of projects and their promotion in the global market.
Douglas Gan, the CEO of BCB Blockchain, expressed his approval stating that the joint integration of BCB Blockchain, DOST, and educational institutions would bring about revolutionary changes in the venture of smart city projects.
BCB Blockchain also plans on launching competitive opportunities like Hackathons and Bug Bounty programs in 2029 as part of the BCB education drive.
Blockchain Adoption and the Philippines
The country has been quite accepting of developing technologies. Just recently, the nation’s Department of Information and Communications Technology (DICT) signed a memorandum of agreement with Monsoon Blockchain, a United States-based blockchain enterprise. The memorandum stated the firm’s affirmation as an advisor and blockchain consultant to the Department.