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.

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.

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.

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.

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.

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.

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, ready 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.

<p>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.</p> <h2>Landmark Opportunity and Global Significance:</h2><p>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.</p><h2>Project Scope and Impact:</h2><p>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.</p><h2>Strategic Selection:</h2><p>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.</p><h2>Economic Impact:</h2><p>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.</p><h2>Government Endorsement:</h2><p>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.</p><h2>Technological Superiority:</h2><p>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.</p><h2>Leadership Perspective:</h2><p>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."</p><p>By selecting Venom, the NPO and the Philippine government as a whole will demonstrate readiness to keep pace with the times, ready to adopt advanced technologies to achieve better outcomes in governance and citizen services.</p><h2>About the National Printing Office (NPO) in the Philippines</h2><p>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.</p><p>For more information, please refer to the official Philippine government release: Venom Blockchain Boosts Digitization in the Philippines.</p>

Politics / Government / Local government

Software

Blockchain / Web3

STEM (Science, Tech, Engineering, Math)

Government offices / organizations

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.

THE PHILIPPINES CHOOSES VENOM FOR GROUNDBREAKING NATIONAL BLOCKCHAIN INITIATIVE

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 is regulating 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 possibly 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 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 suit 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.

<p>Venom Foundation, developer of the Venom Blockchain, together with global company, Miquido, will work on digitization efforts championed by the government.</p> <p>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.</p><p>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.</p><p>Most of the receipts are issued in accordance with the requirements of the Bureau of Internal Revenue, which is regulating 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.</p><p>President Ferdinand “Bongbong” Marcos Jr. has pressed for full digitalization under his administration to provide better services for Filipinos and eradicate corruption.</p><p>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.</p><p>The NPO headed by Director Renato Acosta is moving towards digitizing accountable forms. Approximately more than 10 billion accountable forms are printed annually.</p><p>Looking into and possibly 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.</p><p>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.</p><p>Transitioning to electronic receipts based on Venom Blockchain technology will not only reduce printing and processing costs, but will also increase transparency and security of financial transactions.</p><p>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.</p><p>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.</p><p>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.</p><p>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 suit the requirements of governments and the private sector.</p><p>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.</p>

Venom Foundation, developer of the Venom Blockchain, together with global company, Miquido, will work on digitization efforts championed by the government.

Venom Blockchain Boosts Digitization In The Philippines

HR / Recruitment

Skin care / Cosmetics / Hair products

Internet service

Film / Drama

Magazines / Books / Publications

Marketing / Research

Diet / Health food / Supplement

Childbirth / Childcare

Interior / Furniture / Storage

Mobile device

Servers / Peripherals

Network / Network Equipment

System / Website / Application development

Electronic components / Semiconductors / Electrical equipment

Department stores / Supermarkets / Convenience stores / Stores

Wholeseller

Manga / Anime

Arcade Game

Toys / Playsets / Dolls

Car / Car Supplies

Motorcycles / Motorcycle Supplies

Daily necessities / Household goods

Garden / DIY

Shoes / Bags

Jewelry / Accessories

Kids / Baby / Maternity

Food / Sweets

Soft Drinks / Alcoholic drinks

Restaurant / Fast food / Streetfood

Eating at home / Delivery

Fitness / Healthcare

Medical / Hospital

Pharmaceuticals

Pets / Pet Supplies

Gifts / Flowers

Love / Marriage

Funeral

Hotels / inns

Travel / Sightseeing

Theme Park / Amusement park

Residential / Condominium

Commercial facilities / Office buildings

Architecture / Space design

Construction / Civil engineering

Advertising / Promotion / PR

Sales

Management Consulting

Think tank

Legal / Patent / Intellectual Property

Logistics / Warehouse / Cargo

Steel / Metal / Glass / Earth / Stone / Rubber

Chemistry

Electricity / Gas / Resources / Energy

Nature / Weather

School / University

Cram school / Preparatory school / Online education

Life insurance / Non-life insurance

Mobile app

Mobile games

Cooking / Home appliances

Health and Beauty appliances

Application

Ladies' Fashion

Men's Fashion

Accounting

Environment / SGDs / Recycling

International activity

Full time job / Part-time job / Career

E-commerce

Music

Internet Service Provider / Line connection

Camera

AV equipment

Consumer Games

Outdoors / Mountain Climbing

Welfare / Nursing / Rehabilitation

Qualifications / Study Abroad / Language

Childcare / Early childhood education

Banks / Credit unions

Credit card / Loan

Securities / FX / Investment Trusts

Moving

Volunteer

Agriculture / Forestry / Fisheries

Bicycle / Bicycle Supplies

Female Related

Venture Capitals

Coaching / Mentoring / Consultation

Automotive / Motorcycle / Bicycle

Automotive / Automotive Supplies

Interior / Goods

Real Estate / Architecture / Construction

Security

Telecommunications / VoIP

Show Business

Comedy

Startups

Service

Venom Foundation aims to bring transparency and innova+on to the industry as a leading global blockchain company. It endeavors to provide infrastructure for governments and web3 projects while empowering emerging economies in the Middle East and North Africa with its unique technology.