According to a recent announcement by Building Cities Beyond (BCB) Blockchain, a Singapore-headquartered blockchain technology company that claims to be the leading blockchain protocol provider for the development of smart cities solutions, the firm has signed a memorandum of agreement (MOA) with the Philippine Council for Industry, Energy and Emerging Technology Research and Development (PCIEETRD) – Department of Science and Technology (DOST) at the 3rd National Technology Business Incubator Summit held at the capital city of Manila. The MOA between the two parties signals BCB Blockchain’s strong commitment and drive to share their smart cities solutions blockchain protocol know-how and expertise with the Philippine government to enhance and bolster the local startup ecosystem in developing smart cities solutions and applications. Additionally, BCB Blockchain will further aid and support Phillipine startups through a US$300,000 fund aimed at advancing the progress of local incubators and startup accelerators.
Besides the MOA signed with PCIEETRD – DOST, the Singapore-based smart cities blockchain solutions company has also signed numerous other agreements with several Phillipine institutions of higher learning, including De La Selle University Manila (one of the top universities in the Philippines), Caraga State University, Technological Institute of the Philippines and Batangas State University, among many others. The collaboration with the higher institutes of learning and education is part of BCB Blockchain’s comprehensive approach to imparting the necessary skills and knowledge of developing blockchain and smart city solutions to the Philippine startup ecosystem as they recognize that universities play a critical role in educating and nurturing startup founders. The education initiative will have BCB Blockchain and participating universities and institutes of higher learning joining forces together for research and development, training workshops, hackathons and project collaboration purposes.
Douglas Gan, chief executive officer of BCB Blockchain, said that in order to ensure that their partners – namely PCIEETRD – DOST, local institutions of higher education and incubators and startup accelerators – acquire the proper knowledge and skills that are needed for planning and developing smart cities projects and applications proficiently, the company will provide sufficient capital and give them technical support, besides offering their assistance in organizing and running seminars and workshops geared towards developing practical blockchain applications and smart cities solutions.
BCB Blockchain was founded in 2018 by Lee Changjin and Douglas Gan in Singapore originally as a fintech company offering e-wallet and payments services. The company has since evolved into an open-source platform for the BCB blockchain protocol, which is focused on delivering smart cities solutions across Southeast Asia. One of the firm’s significant milestones is Yatai City in Myanmar, which is the first ever city to be built and supported by its proprietary BCB blockchain. Some of the industries and sectors that the blockchain protocol helps to maintain for the city include finance, utilities, transportation, food and beverage, and retail.
The initiative by BCB Blockchain and the Philippine government is a positive step towards the adoption of blockchain technology by the country’s startups for developing sustainable and high-performing smart cities. Before long, the joint collaborative effort between the Singapore blockchain company, Philippine government, local startups and universities will trigger the country’s next surge of technological innovations and applications in the blockchain sphere, which will hopefully transform the concept of sustainable smart cities into a reality.