DOST and The Hashgraph Group Forge Partnership to Boost Web3 Advancements in the Philippines

In a significant move to advance Web3 technology in the Philippines, the Department of Science and Technology (DOST) has signed a strategic collaboration agreement with The Hashgraph Group (THG), a leading Swiss technology and engineering company specializing in Web3 solutions within the Hedera ecosystem. This partnership seeks to accelerate the digital transformation of the Philippines and enhance financial inclusion through innovative technologies.

Strengthening the Ecosystem

With a young and tech-savvy population, the Philippines is rapidly emerging as a blockchain-friendly hub in the Asia-Pacific region. The DOST is dedicated to promoting Industry 4.0 technologies, including blockchain and artificial intelligence, to drive economic growth and foster job creation. This collaboration with THG marks a crucial step towards building a transparent and secure digital infrastructure conducive to the needs of government institutions, universities, and industries alike.

Undersecretary Sancho Mabborang of DOST emphasized the importance of this partnership, stating, "This collaboration not only strengthens our commitment to digital innovation but also empowers communities across the Philippines to participate in the global digital economy. We aim to ensure that opportunities for growth and innovation reach every Filipino, promoting inclusive and sustainable development."

Focus on Regional Development

The agreement outlines a comprehensive approach that includes capacity-building initiatives tailored to meet the specific Web3 needs of different regions. DOST and THG will work together to deliver training programs, knowledge-sharing opportunities, and develop real-world applications for startups and government agencies. The signing ceremony also marked the initiation of separate agreements for six administrative regions in the Philippines: the National Capital Region, Cordillera Administrative Region, Central Luzon, Western Visayas, Eastern Visayas, and Davao.

Stefan Deiss, Co-Founder and CEO of THG, expressed enthusiasm for the partnership, noting, "We are excited to collaborate with DOST to implement Hedera-powered Web3 technologies throughout the Philippines. Our shared vision is to empower society through innovation and training, fostering growth in both public and private sectors."

Impressive Technological Showcases

During the signing ceremony in Switzerland, the delegation from the Philippine government was introduced to THG's leading Web3 products, including a demo of a unique Hedera-powered carbon bank. This initiative aims at tracking carbon credits for both enterprises and government institutions, showcasing THG's commitment to sustainability in its technological offerings.

This partnership will allow DOST and THG to address industry-specific use cases, leveraging engineering expertise across various sectors such as smart agriculture, water quality traceability, gaming, and tourism. By integrating these innovations into their operational frameworks, both organizations can propel the Philippine economy into a new digital era.

Commitment to Education and Entrepreneurship

A pivotal component of this collaboration is the implementation of nationwide Web3 training and certification programs aimed at students, entrepreneurs, and businesses. By equipping participants with the necessary skills to excel in the evolving digital landscape, DOST and THG intend to create a more adaptable workforce prepared to thrive in the Web3 economy.

Furthermore, the commitment to invest strategically in innovative startups through THG’s venture-building program signifies a robust approach to catalyze growth and productivity in the Philippine industry. This initiative is aligned with fostering a culture of entrepreneurship characterized by technological thrust.

As the Philippines gears up for a future steeped in digital transformation, this partnership with The Hashgraph Group serves as a landmark achievement for DOST in its ongoing mission to harness science, technology, and innovation for the country's sustainable development and economic prosperity. The collaborative effort represents a bright future for Filipino communities, academic institutions, and industries as they embark on this exciting journey into the Web3 landscape.