The government of the Philippines is partnering with a blockchain firm to improve the country’s business and cybersecurity sectors.
The Department of Information and Communications Technology (DICT) of the Philippine government has signed a Memorandum of Agreement (MoA) with U.S.-based blockchain firm Monsoon Blockchain Storage, according to a report by GMA News Online on June 19.
The MoA reportedly stipulates that Monsoon is to act as a blockchain consultant and advisor to DICT, offering services such as cost-benefit and socio-economic analyses regarding blockchain solutions in the Philippines.
DICT Acting Secretary Eliseo Rio Jr. commented on how the MoA will benefit the Philippines, saying it will “directly benefit our continuous effort to address the country’s issues on ease of doing business and cybersecurity.”
The MoA also purports to benefit Monsoon, by the DICT releasing education and awareness materials on blockchain tech and contributing to the firm’s “capacity-building activities.”
According to its website, Monsoon Blockchain Storage is a data storage company that has developed a blockchain solution for analyzing, storing, and optimizing cloud-based data sets. The firm is reportedly also developing an Ethereum-based blockchain with purported ideological similarities to Ripple.
As recently reported by Cointelegraph, the charity foundation associated with major cryptocurrency exchange Binance recently signed a Memorandum of Understanding (MoU) with Safe Future, a Uganda-based non-governmental organization focused on improving infrastructure for the country’s schools.
The MoU aims to provide Ugandan students with a variety of useful materials, such as solar panels, sanitary pads, school supplies, LED screens, as well as breakfast and lunch for students.
