DICT and Monsoon Blockchain Sign Memorandum of Agreement

(Manila, Philippines) June 20, 2019 – New partnership between a Philippine government agency and a blockchain company aims to use blockchain as one of the ways for the government to address “ease of doing business and cybersecurity”.

In a short article from GMA News, the Department of Information and Communications Technology (DICT) signed a Memorandum of Agreement (MoA) with US-based blockchain firm Monsoon. The agreement is for both entities to collaborate for the effective use of blockchain in the country.

Monsoon will offer services such as consultation, analysis, and advice on the use of blockchain technology. DICT will assist Monsoon on information dissemination and “capacity-building activities”.

Monsoon is a storage service utilizing blockchain technology for cloud data-based sets. It is developing its own ethereum-based blockchain and native token technology.

In a previous report, DICT discussed the benefits of using blockchain to strengthen cybersecurity in the country in an event in Davao last November 2018. Because of blockchain being decentralized and immutable, it can address multiple security concerns.