Supreme Court Taps Twala for Consultation on Possible Blockchain Use in E-Notarization
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Editing by Nathaniel Cajuday
- Twala announced on Tuesday its collaboration with the Supreme Court to assist in drafting regulations for electronic notarization.
- According to the startup, the SC requested them to share their insights into the current efforts to create regulations that would enable the use of e-notarization.
- Twala also hinted at the use of blockchain technology to a more secure and efficient way of notarizing documents. However, there are no updates available on whether the technology will be leveraged.
Aiming to offer assistance in the drafting of regulations that would enable electronic notarization in the country, Twala, a blockchain-powered digital identity and signature platform, recently announced that it had forged a collaboration with the Supreme Court.
It was finalized during a consultation meeting on April 12, 2023, and was part of the Supreme Court’s efforts to establish a legal framework for electronic notarization.
According to Twala, the judiciary requested them to contribute their insights to the current efforts to create regulations that would enable the use of e-notarization in the country.
“The consultation with tech startups like Twala is a significant step towards the adoption of electronic notarization in the country. By leveraging blockchain technology, Twala can provide a more secure and efficient way of notarizing documents, benefiting individuals and businesses,” the startup wrote in a statement.
Twala also acknowledged the importance of providing a secure and efficient way of verifying and authenticating digital documents amid growing technological advancements, especially for government transactions.
However, as of this writing, there are no other updates available on whether blockchain technology will be used for electronic notarization.
In August 2022, Twala received a ₱4.6 million grant from the Department of Science and Technology-Philippine Council for Industry, Energy, and Emerging Technology Research and Development (DOST-PCIEERD). The grant was given to support the startup’s digital signature solution, which aims to assist companies in enabling their remote or hybrid work arrangements.
According to Jeffrey Reyes, the Chief Executive Officer of Twala, the grant will be utilized to enhance the security and user experience of the digital signature platform, as well as to speed up the research and development activities of the Twala Blockchain Network.
These measures will not only promote the practical application of blockchain technology in the Philippines but will also support the new blockchain training program initiated by DOST.
Blockchain-Based Digital Self-Sovereign ID
During the Global Blockchain Summit 2022 in Balanga, Bataan, last year, Twala introduced its self-developed digital self-sovereign identification (SSI) card, which can be used for logging in to different apps and websites.
Twala co-founder and chief technology officer Alex Quinit highlighted that utilizing their SSIs can reduce the risk of identity theft and fraud for customers because their IDs are based on the principle that individuals should have exclusive possession and authority over their personal data, and function as digital ID concept.
The Global Blockchain Summit was made possible by the collaboration of the Department of Information and Communications Technology (DICT) through the ICT Industry Development Bureau (IIDB) and the local government of Bataan. The event gathered blockchain and web3 leaders locally and overseas.
This article is published on BitPinas: Supreme Court Taps Twala for Possible Blockchain Use in E-Notarization
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.