Bitcoin SV Infrastructure Developer nChain Signs MOU With Bataan

Editing by Nathaniel Cajuday

• Pursuant to Republic Act No. 11032, or Ease of Doing Business and Efficient Government Service Delivery Act of 2018, the Provincial Government of Bataan (PGB), through Bataan Governor Joet Garcia, signed a Memorandum of Understanding (MOU) with nChain AG Chairman Stefan Matthews.
• The MOU is expected to lay down the framework for the establishment of a digital platform in Bataan that seeks to streamline current systems and procedures for government services.
• In a statement, the two entities involved revealed that the implementation of the new tech in the province is set to happen in the coming months.

Almost three months after the first Global Blockchain Summit in Bataan, the provincial government signed a Memorandum of Understanding (MOU) with the international blockchain firm nChain. The partnership claims to lay down the framework for the establishment of a digital platform in Bataan that seeks to streamline current systems and procedures for government services.

The Provincial Government of Bataan (PGB), through Bataan Governor Joet Garcia, signed the MOU with nChain AG Chairman Stefan Matthews, noting that the MOU is pursuant to Republic Act No. 11032 (Ease of Doing Business and Efficient Government Service Delivery Act of 2018).

“NChain is committed to partnering with governments around the world to digitally transform their economies. Through this memorandum of understanding with Bataan, we are thrilled to begin propel the state forward by providing expert advice and blockchain-based solutions for the digitization of the state services, products, and processes using our robust intellectual property rights portfolio. With the BSV blockchain powered by NChain, Bataan can look forward to an efficient, secure, and transparent system in digitalizing various branches and agencies of the state, providing better services and products for its people,” Matthews said. 

Meanwhile, Garcia expressed his excitement about the collaboration and noted that the partnership will utilize nChain’s “cutting-edge blockchain technology and improve the efficiency and transparency of our government operations, as well as provide innovative, secure, and accessible online services to our citizens.”

 “We are excited to be at the forefront of the implementation of blockchain technology in government services. This partnership with NChain will greatly benefit our citizens by providing them with fast and secure access to government services, while also ensuring the integrity of these services,” he added.

Garcia also emphasized that “the technology will improve the transparency and accountability of government operations, as it provides a tamper-proof record of all transactions.”

In a statement, the two entities involved revealed that the implementation of the new tech in the province is set to happen in the coming months “as the Provincial Government of Bataan and nChain work hard to achieve our common goal of fully enabling blockchain technology in government services.”

“We are confident that this strategic alliance will result in improved efficiency within the state’s operations and bring many innovative possibilities for the future,” Garcia concluded.

Last October, the first-ever annual Global Blockchain Summit (GBS) happened at the Bataan People’s Center from October 26 to 27, 2022. It was done in partnership with the Department of Information and Communications Technology (DICT) through the ICT Industry Development Bureau (IIDB).

What is nChain? 

It is a global blockchain technology company founded in 2015 and currently has offices in London, United Kingdom; Zug, Switzerland; Ljubljana and Maribor, Slovenia; Stockholm, Sweden; and Manila. 

The firm conducts research and development of inventions, including the maintenance of a robust patent portfolio, and by offering software, IP licensing and consulting services across several industries, including iGaming, supply chain, and finance to unleash the potential of blockchain technology. nCHain said it is the developer behind Bitcoin SV Node software, Teranode, LiteClient, Kensei and more.

In 2018,  nChain CEO Jimmy Nguyen stated that the Philippines is ripe for the virtual currency market citing that the Bangko Sentral ng Pilipinas (BSP), the country’s central bank, is handling the virtual currency boom through sensible regulation thus improving consumer confidence.

NChain was also among the major sponsors for the Philippine Blockchain Week that happened last year.

This article is published on BitPinas: Months after Concluding Global Blockchain Summit, Bataan Government Partners with Blockchain Firm nChain

Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.

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• Source: https://bitpinas.com/business/bataan-x-nchain/