DICT signs cooperation pact with US blockchain firm

The Department of Information and Communications Technology (DICT) on Wednesday partnered with US-based firm Monsoon to utilize blockchain technology in the government’s aim to address ease of doing business and cybersecurity.

DICT Acting Secretary Eliseo Rio Jr. and Monsoon CEO Donald Basile signed a memorandum of agreement (MOA) for collaboration efforts in enhancing capacity development and institution building on the effective use of blockchain technology.

Blockchain refers to a list of digital records of transactions or public ledgers maintained by a network of computers.

Under the MOA, Monsoon will provide complimentary courtesy consultation, advice, cost-benefit, and socio-economic analysis on the use of blockchain technology in the Philippines.

“This partnership will directly benefit our continuous effort to address the country’s issues on ease of doing business and cybersecurity,” Rio said.

DICT, for its part, will assist Monsoon on blockchain technology information dissemination and capacity-building activities. — BM, GMA News