by Ferry Bayu | Aug 4, 2024 | Business
Venom Foundation is excited to announce its proposal to digitize the Philippine government’s accountable forms, including invoices, receipts, cash tickets, documentary stamps, and special bank receipts. Each item will be securely tracked and managed, representing the world’s largest blockchain implementation. This showcases Venom’s capability to handle extensive, sovereign-level projects.
A Shift in Blockchain Adoption:
This project is a significant opportunity not just for Venom but for the entire blockchain industry. It marks a major shift in how governments view and use blockchain technology. By selecting Venom, the Philippine government is demonstrating a strong trust in blockchain as a secure, scalable, and efficient solution for national operations. This initiative will transform data, transaction, and record-keeping practices, setting new standards for transparency and efficiency.
Project Scope and National Impact:
The Philippines plans to digitize approximately 10 billion transactions using Venom blockchain technology, marking a substantial step in the country’s digitalization efforts. This project is expected to enhance transparency, reduce costs, and improve the efficiency and security of financial transactions across the nation. The initiative will have a broad impact, influencing daily life and commerce for the country’s 115 million residents.
Strategic Choice and Technological Superiority:
Initially, the Philippines considered IBM’s Hyperledger for their digitization efforts but ultimately chose Venom. Venom’s unmatched scalability, high throughput, security, and low transaction costs made it the best choice for both government and corporate needs. This decision supports the country’s efforts to modernize financial operations, bringing efficiency and transparency, and helping to control inflation. Venom offers a strong foundation to manage the growing demands of this significant project.
Economic Potential and Benefits:
The digital transformation driven by Venom blockchain could generate up to USD 101.3 billion (PHP 5 trillion) in annual economic value by 2030, representing about 27% of the Philippines’ GDP in 2020. This economic growth could significantly improve citizens’ quality of life and support infrastructure development.
Government Support and Vision:
The National Printing Office (NPO) of the Philippines, which prints around 10 billion accountable forms annually, is leading this digitization effort with Venom. President Ferdinand “Bongbong” Marcos Jr. prioritizes digitization to improve essential services and reduce corruption. He believes digital government records and services will enhance the country’s planning, decision-making, and business processes.
Technological Leadership and Network Growth:
The Philippines’ potential adoption of Venom blockchain marks a new phase in the network’s growth. The influx of billions of transactions will bring immense value to the network and introduce it to millions of new users, offering a model for other large-scale projects. This surge in transactions will also make being a validator on the Venom network more rewarding.
CEO’s Perspective on Digital Transformation:
Venom Foundation’s CEO, Christopher Louis Tsu, emphasized the benefits of transitioning from paper to digital receipts. He highlighted the cost savings and significant use of Venom blockchain through hundreds of millions of Venom tokens annually. With its high transaction speed and low costs, Venom is positioning itself as a leader in institutional blockchain solutions.
By selecting Venom, the NPO and the Philippine government demonstrate their readiness to embrace advanced technologies for better governance and public service outcomes.
About the National Printing Office (NPO):
NPO is the leading Recognized Government Printer in the Philippines, responsible for producing essential government forms and documents. This digitization project, supported by Venom’s blockchain technology, aims to improve the efficiency and security of government services.
For further details, please refer to the official Philippine government release: Venom Blockchain Boosts Digitization in the Philippines.
by Ferry Bayu | Aug 2, 2024 | Business
From a love of the arts as a child to a curiosity about human behavior, Claudette has turned her passion for learning into a career of sharing knowledge. Her colorful path intertwines different fields while supporting her mental health and child protection advocacies.
At the young age of 3, Claudette already wanted to be an artist. Throughout her student years, she excelled in academics and the arts, driven by an insatiable curiosity for everything from mathematics to sciences and literature. She would study everything if it were possible.
She decided to major in psychology during her college years, yet her passion for the arts never waned. She was known as the artist in all her classes, teaching herself creative design software and learning to play musical instruments. She was active during her college days. She was a member of the school’s official publication and part of the institution’s chorale. She is a natural artist, though she never enjoyed dancing.
After graduation, Claudette didn’t expect that her childhood dreams would come true while pursuing a career in psychology.
She began as a Research Assistant in the psychology field, followed by three years as a guidance designate in a public school. This role provided her with first-hand experience with students struggling both academically and emotionally, which deepened her commitment to child protection advocacy.
She handled challenging cases that required collaboration with teachers, administrators, LGUs, and other stakeholders. These three years felt like ten, given the intensity of the experiences and the traumas she witnessed in children.
Her communication and facilitation skills flourished during this time, inspiring her to become a teacher. This role allowed her to better understand her students while continuing her own learning journey.
She took teaching units, passed the licensure examination on her first attempt, and was hired as a public school teacher, despite having no prior teaching experience. Her students adored her, and she discovered a passion for shaping young minds into future leaders, a cherished experience she will carry forever.
Unexpectedly, Claudette’s career in the arts took off during the pandemic lockdown when she was hired as a cartoonist. Despite previous rejections for art-related positions due to a lack of professional experience, she took a brave step and applied. This marked the beginning of her journey as an artist. She balanced full-time teaching with freelance artistic work, accumulating four years of experience in the field.
The rapid changes and challenges of the COVID-19 pandemic flew by as she adapted and thrived. Her advocacy expanded from child protection to human rights as she delved into teaching social science. She is also passionate with mental health advocacy.
In May 2023, she represented the Philippines as a delegate and team leader for the Debate 2 Regulate (D2R) Future Online Safety Leaders Program in Bangkok, Thailand.
Organized by the ASEAN-Australia Strategic Youth Partnership and the eSafety Commissioner, this program allowed Claudette to engage with policymakers, experts, and delegates from across ASEAN and Australia.
She led Team Philippines in a Model UN-style debate, resulting in an Honorable Mention for Professionalism and Diplomatic Values.
Currently, Claudette is a full-time multimedia specialist, freelance tutor, and graphic artist. She is also pursuing a master’s degree in clinical psychology while supporting her family’s business with her marketing and creative expertise.
How does she manage her time? She doesn’t. She simply does what she feels like (within the rules of her work).
Does she still get enough sleep? Indeed, she actually gets 8 hours of sleep.
Does she have hobbies? Many.
Can she do her hobbies while working and studying? No, but she finds time for them—sometimes in the middle of other activities. She has a very short attention span.
Does she have a love life? Yes, a very supportive one and is also a multipotentialite.
Does she have a life? Yes, and it is indeed a colorful one, with a wide spectrum of hues.
“Contrary to the saying that a jack of all trades is a master of none, I believe that one can master anything if they commit and pour their heart into it. While one may not master everything, they can certainly excel in more than one area. Why choose one when you don’t have to?”– ClaudetteInfo for hyperlink: https://linktr.ee/clautercias
by Ferry Bayu | Aug 1, 2024 | Business
Manila, Philippines, July 30, 2024, Chainwire – With its advanced blockchain technology, the Venom Foundation proudly announces its proposal to digitize the Philippine government’s accountable forms, such as but not limited to invoices or receipts, cash tickets, documentary stamps, and special bank receipts, individually identified, accounted for, and afforded appropriate security. This project represents a major milestone, marking the world’s largest blockchain use case and showcasing Venom’s capability to handle large-scale, sovereign-level operations.
Landmark Opportunity and Global Significance:
The project will represent a landmark opportunity, not only for Venom but for the blockchain industry as a whole. The world’s largest blockchain use case signifies a seismic shift in how sovereign states perceive and utilize blockchain technology. By betting on Venom, the Philippine government can demonstrate unprecedented trust and confidence in blockchain as a secure, scalable, and efficient solution for national-level operations. This move will revolutionize the way governments and large institutions handle data, transactions, and record-keeping, setting a new standard for transparency and efficiency.
Project Scope and Impact:
The Philippines will be making a significant leap forward if the country pursues the digitalization of approximately 10 billion transactions in accountable form using Venom blockchain technology. This initiative will mark a new phase in the country’s digitalization journey and promises to revolutionize financial operations. The project expects to significantly enhance transparency, reduce costs, and improve the efficiency and security of financial transactions across the nation. With a population of approximately 115 million, the impact of this digitization effort will be far-reaching, touching every aspect of daily life and commerce in the Philippines.
Strategic Selection:
Initially, the Philippines considered utilizing IBM’s Hyperledger technology to implement its digitization plan. However, the country eventually decided to move forward with the Venom blockchain instead due to its unparalleled scalability, high throughput, security, and low transaction costs, making it the best choice for government and corporate needs. With efforts underway in the Philippines to reform financial operations, Venom brings key qualities to the table that will help usher in a new era of efficiency and transparency in the country while also helping to curb inflation. More than just a technological solution, Venom represents an institutional foundation capable of growing and adapting to the needs of a massive project that will only grow in scope over time.
Economic Impact:
If fully leveraged, digital transformation using Venom blockchain in the Philippines can unlock up to USD 101.3 billion (PHP 5 trillion) in annual economic value by 2030, equivalent to about 27 percent of the country’s GDP in 2020, according to a report by AlphaBeta in October 2021 on The Growing Digital Economy in the Philippines. This represents billions of dollars in additional revenue to boost the economy, which will contribute to improving citizens’ quality of life and infrastructure development.
Government Endorsement:
The Philippines’ National Printing Office (NPO), responsible for printing about 10 billion pieces of accountable forms annually, is leading the digitization initiative with Venom. President Ferdinand “Bongbong” Marcos Jr. (PBBM) has made digitization a priority for the country, identifying it as a means of improving essential services for Filipinos and helping curb corruption. According to PBBM, digitizing government records and services would enhance the country’s science-based planning and decision-making, as well as streamline business transactions.
Technological Superiority:
In turn, the Philippines’ hopeful adoption of Venom can signify a new and exciting stage in the Venom network’s growth. The billions of additional transactions will add enormous value to the network, introduce it to millions of new users, and provide a blueprint for other projects of a similar scale on how to use Venom to maximize their efficiency. Furthermore, the dramatic increase in network transactions will make being a validator on Venom even more lucrative, bolstering the network’s health.
Leadership Perspective:
The Venom Foundation’s CEO, Christopher Louis Tsu, commented on the news that the Philippines prints approximately 10 billion paper receipts annually. He said, “Transitioning to digital receipts using the Venom blockchain not only reduces printing and processing costs but also demonstrates the massive utilization of the Venom blockchain in the form of hundreds of millions of Venom tokens annually. With its incredible throughput of 100,000 transactions per second and low transaction costs, Venom is becoming a leader in institutional blockchain solutions.”
By selecting Venom, the NPO and the Philippine government as a whole will demonstrate readiness to keep pace with the times and to adopt advanced technologies to achieve better outcomes in governance and citizen services.
About the National Printing Office (NPO) in the Philippines
NPO, the foremost Recognized Government Printers (RGP) in the Philippines, is responsible for printing accountable and non-accountable forms and documents essential to the Philippine government’s operations. The NPO’s digitization initiative, supported by Venom’s blockchain technology, aims to enhance the efficiency and security of government services.
For more information, please refer to the official Philippine government release: Venom Blockchain Boosts Digitization in the Philippines.
by Ferry Bayu | Aug 1, 2024 | Business
Venom Foundation, developer of the Venom Blockchain, together with global company Miquido, will work on digitization efforts championed by the government. Experts estimate that digitalizing the economy could lead to an annual GDP growth of one to two percent, which means billions of dollars in additional revenue that could boost the economy, help improve the quality of life of Filipinos, and develop infrastructure.
The National Printing Office (NPO), which is working on its own digitalization roadmap, is expected to benefit from the digitization efforts, as in the country, at least 6.5 billion receipts are being printed annually. Most of the receipts are issued in accordance with the requirements of the Bureau of Internal Revenue, which regulates the issuance of official receipts and commercial invoices through the Electronic Invoicing System that has been introduced to reduce VAT fraud and improve tax collection and administration.
President Ferdinand “Bongbong” Marcos Jr. has pressed for full digitalization under his administration to provide better services for Filipinos and eradicate corruption. 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 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 the transparency and security of financial transactions.
Venom Blockchain technology is known for its security, scalability, and efficiency. Venom focuses on distributed ledgers, CBDCs (central bank-backed digital currencies), and asset tokenization. Several countries have already chosen the Venom Blockchain for the digitalization of their economies, including the creation of digital currencies, data management, and the development of private blockchains for government and corporate needs.
Venom Foundation aims to bring transparency and innovation to the industry as a leading global blockchain company. It endeavors to provide infrastructure to governments and web3 projects while empowering emerging economies in the Middle East and North Africa with its unique technology.
On the other hand, Miquido’s rich technology stack enables a smooth and reliable digital transformation by providing comprehensive services that embed technology into business. Its expertise in Android, iOS, cross-platform, front-end, back-end, and even artificial intelligence development suits the requirements of governments and the private sector.
Miquido is a Google-certified software development company based in Europe. It is a one-stop software development company that aims to solve business challenges with cutting-edge technology and data-driven research. Among its notable clients include BNP Paribas, a top-tier European and international banking establishment, and Skyscanner, a global leader in travel services.
by Ferry Bayu | Aug 1, 2024 | Business
Casa Dental introduces its new dental implants, which provide patients with durable and natural-looking tooth replacement options. This option not only replaces missing teeth but also enhances oral health and aesthetics.
Casa Dental introduces its new dental implants, which provide patients with durable and natural-looking tooth replacement options. This option not only replaces missing teeth but also enhances oral health and aesthetics.
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