Copy link
Increase text size
Decrease text size
Link copied

BCB Blockchain provides $300,000 support for the Philippines to accelerate startups, create smart cities

BCB Blockchain signs memorandum of agreement with the Philippines to accelerate blockchain startups, nurture talents, and create smart cities.

image: BCB Blockchain Facebook

Mon, 25 Nov 2019, 08:43 am UTC

Singapore-based technological company BCB Blockchain has signed a memorandum of agreement (MoA) with the Philippines in a bid to support blockchain startups in the country. The partnership was forged during the 3rd National Technology Business Incubator Summit (TBI Summit), with the Philippine Council for Industry, Energy, and Emerging Technology Research and Development (PCIEETRD) signing on the country’s behalf.

To be precise, the collaboration aims to build smart cities using blockchain technology and the initial phase is to provide training on individuals interested in joining the field. BCB has partnered with several universities to identify and nurture talent that could benefit the crypto and blockchain industry in the long run, offering $300,000 worth of funding to launch these initiatives.

Areas of focus include “co-incubation of projects, research and development, seminars and trainings, promotional activities, competitions, hackathons, and collaborative endeavors for smart city or blockchain development.” The universities that have been tapped are Technological Institute of the Philippines, La Salle University Manila, Adamson University, Mindanao State University, and a few more prestigious schools scattered across the country.

Blockchain still alien to most Filipinos

Despite blockchain technology penetrating several countries and industries already, the innovation is fairly unknown in the Philippines. Senator Grace Poe admitted as such and said that this very fact opens up the Filipinos to scams that have proliferated in the crypto space, Cointelegraph reported.

By forging this partnership, the Philippines is ensuring that blockchain technology becomes a household name, while simultaneously creating professionals that could be beneficial for the country’s development.

Blockchain can revolutionize the Philippines

One of the things that blockchain could provide for the Philippines is to establish a highly-secured immutable ledger for its voting system. There have been numerous voting scandals in the country for years and blockchain could single-handedly put an end to it thanks to its decentralized nature.

BCB is confident that this collaboration will flourish. Chief Executive Officer of BCB Blockchain Douglas Gan said that they’ll be using their expertise to help the Philippines move forward with this project and provide incentives for groups who will dominate the competitions that are slated to take place next year. The prize money is up to $15,000 for whoever wins the hackathons and Bug Bounty programs that they’ll be setting up.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $8,759.81 (-6.34%)
  • Ethereum (ETH) $225.97 (-9.68%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $318.88 (-8.58%)
  • Bitcoin SV (BSV) $224.20 (-13.25%)
  • Bitcoin (BTC) $8,759.81 (-6.34%)
Feb 21, 2020 (Friday)
12:01
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
12:00
Brazil to launch new payment system in response to cryptocurrencies
11:59
Digital currency exchange Coinbase Pro lists Kyber Network token
11:57
Norwegian Air to soon start accepting crypto payments
10:21
Swedish central bank begins CBDC pilot with Accenture
09:51
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
14:16
Telecom companies complete cross-carrier mobile payments using blockchain
11:53
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
11:00
South Korean ICO project discontinued, to return $7.5M to token holders
10:36
Samsung maintains crypto support in soon-to-launch Galaxy S20
09:41
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
09:15
Coinbase becomes first crypto company to receive Visa principal membership
08:59
Dubai Economy and six banks launch KYC Blockchain Consortium
08:26
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
07:12
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
06:13
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
05:02
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
04:56
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
04:35
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
12:46
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft