Venom Blockchain Boosts Digitization In The Philippines

According to President Marcos, digitizing government records and services would help support its science-based planning and decision­ making, as well as improve business transactions.

The NPO headed by Director Renato Acosta is moving towards digitizing accountable forms. Approximately more than 10 billion accountable forms are printed annually.

Looking into and possibly using the Venom Blockchain and the Miquido technology stack, the NPO can transition to the issuance of electronic forms to not only reduce printing and processing costs, but also increase transparency and security of financial transactions. Venom Blockchain proved it is superior to other blockchain platforms like Hyperledger, Ethereum and R3 Corda.

Implementing blockchain technologies specifically in government processes helps to increase transparency, reduce corruption, and improve data management. This will not only strengthen the economy but also increase the people’s trust in government institutions.

Transitioning to electronic receipts based on Venom Blockchain technology will not only reduce printing and processing costs, but will also increase transparency and security of financial transactions.