November 23, 2018. Blockchain company Satoshi Citadel Industries (SCI Ventures) has set up a Blockchain Innovation Division to help other businesses implement their own blockchain strategies.
The division, SCI Blockchain Technologies, is set up to lend SCI’s blockchain expertise to other companies wishing to leverage on the benefits of blockchain technology. With the increasing awareness of the public towards blockchain, SCI has experienced a surge of inquiries from small and medium enterprises (SMEs) who are interesting in implementing this new technology. “We want to help our customers decipher the value (blockchain) will bring to their businesses,” said Blockchain Innovation Division Head Peter Ing in a statement sent to BitPinas.
SCI has been building products around blockchain since its inception. The company is responsible for crypto wallet app Bitbit and also owns exchange site buybitcoin.ph. It was also in SCI where order-book style crypto exchange Coinage.ph (now a separate entity) was conceptualized. It is currently building Citadax, a new order-book style cryptocurrency exchange.
The company is also one of the first to acquire a virtual currency license from the Bangko Sentral ng Pilipinas (BSP).
In a way, setting up a division to focus on blockchain consulting makes sense for SCI. Cryptocurrency, a product of blockchain, and initial coin offerings, have witnessed declining interest with the public, but blockchain interest is growing from traditional businesses, education sector, and even the government. Regular meetups are happening in the Philippines on an almost weekly basis, centering mostly on blockchain. In several of these meetups, the consensus is that blockchain is, in reality, not a solution for everyone. This is acknowledged by Mr. Ing, who mentioned, “While blockchain is not a solution for everything, we promise honest guidance in helping companies determine that.”
In addition to Mr. Ing, SCI’s Chief Blockchain Architect Maro Mejia and Senior Blockchain Developers, Jerico James Flores and Tristan Peralta. Mr. Mejia is an early blockchain adopter and owner of Terravibe.com, the first bitcoin wallet in the Philippines, created in 2012. Mr. Flores and Mr. Peralta have built commercial grade apps for various companies with 10+ years of development experience.