THE government is strengthening its push for its national information and communications technology (ICT) development agenda by tapping a Delaware-based tech company whose expertise includes the use of blockchain technology.
Wednesday saw the Department of Information and Communications Technology (DICT) signing a memorandum of agreement with Monsoon Blockchain Storage Inc. to enhance the capacity development and institution-building efforts of the Philippines.
Under the agreement, Monsoon will provide complimentary courtesy consultation, advice, cost-benefit and socioeconomic analysis on the use of blockchain technology in the Philippines.
DICT, meantime, will assist Monsoon on blockchain technology information dissemination and capacity-building activities.
Monsoon is a blockchain-based decentralized protocol that aims to construct a worldwide storage and cloud optimization network of users and providers based on their innovative technology.
In a nutshell, blockchain is an emerging technology that enables the storage of data for analysis and public use. More often used in monetary transactions, blockchain also enables the storage and usage of public data for health care, logistics and other industries.
Eliseo M. Rio Jr., DICT chief, said the partnership with Monsoon will help the government hasten the permit processing and even buttress its cyber-security efforts.
“This partnership will directly benefit our continuous effort to address the country’s issues on ease of doing business and cyber security,” he said.