Singapore-based Building Cities Beyond (BCB) Blockchain has inked an agreement with two leading technology business incubators, QBO Innovation Hub and Animo Labs, to build a blockchain ecosystem for smart city projects in the Philippines, according to a June 7th report by GMA News.

Agreement to Unlock Funding for Blockchain Startups 

The Memorandum of Understanding (MOU) was signed by BCB Blockchain with the two incubators to reach out and engage researchers, startups, and community members to use the Building Cities Beyond platform and its technologies to create smart city projects and applications.

Douglas Gan, co-founder and CEO of BCB Blockchain, revealed that the collaboration would provide funding access for blockchain-based startups.

“In this partnership with QBO and Animo Labs, we will provide a platform and access to funding for startups interested in developing blockchain technologies,” Gan said.

Blockchain Platform for Smart City Projects 

The MOU signified the parties’ commitment to work closely in critical areas, including co-incubation of projects, research and development, seminars and training, promotional activities, competitions and hackathons, and collaborative endeavors for smart city and blockchain development.

According to Federico Gonzales, Executive Director of Animo Labs, the platform will provide access to a wide range of educational institutions to help build and promote the growth of blockchain for smart city solutions.

Katrina Rausa Chan, Director of QBO Innovation Hub, underlined the important role of blockchain in smart city development.

“We believe that blockchain will play a crucial role in the development of smart cities with an increasing number of people living in urban areas. We are pleased to work closely with BCB and establishing their BCB Blockchain platform and technology in QBO hub to create the next generation of smart city applications,” Chan said.

Source: www.gmanetwork.com

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