Land Transportation Office Explores Blockchain Integration Possibilities | Key Points | Dec. 18, 2024
Will the meeting bear fruit?
GM! Welcome back to BitPinas Key Points: crypto news in concise formats for easy reading. In today’s daily recap: let’s check out what was discussed between the Land Transportation Office and blockchain proponents.
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Feature: Bureau of Treasury, PDAX, GCash to Launch GBonds in December
Following a meeting with Western Pacific and Prismo Blockchain Contributor BayaniChain, the Philippines’ agency responsible for all land transportation in the country, the Land Transportation Office (LTO), is exploring the use of blockchain technology to enhance transparency and efficiency in its services.
What’s the significance: The initiative could revolutionize LTO operations by streamlining processes, improving service delivery, and ensuring a more secure and transparent system for the public.
Key Details: In a media release, the agency, led by LTO Chief Assistant Secretary Atty. Vigor D. Mendoza II, expressed its push for the digitalization of its processes.
Attendees of the meeting included top officers from the involved entities such as:
LTO’s Management Information Division Chief Atty. Jainal Abidin Y. Bahjin II
Consultant Atty. Alex Verzosa
Western Pacific CEO CJ Costales
Senior Board Director Irene Nubla
Bayanichain CEO Paul Soliman
BayaniChain Chief Growth and Strategy Officer Angelo Wong
The focus was on integrating blockchain technology to improve transparency and efficiency in LTO services by creating a secure and effective digital system to enhance service delivery for the LTO.
Philippine Crypto News 🇵🇭
Vana, a Filipino-led AI and blockchain platform is now live.
Coins.ph listed $RAY.
BitPinas article: The Land Transportation Office (LTO), is exploring the use of blockchain technology to enhance transparency and efficiency in its services.
Noteworthy 🌟
Key updates and announcements from around the crypto and blockchain world:
FTX customers will receive distributions through Kraken and BitGo starting within 60 days of the bankruptcy plan's Jan. 3, 2025 effective date.
Crypto whales accumulated nearly $149.6 million worth of Cardano (ADA) and Dogecoin (DOGE) in just two days.
Trump’s crypto project, World Liberty Financial,spent nearly $45 million on crypto assets in December.
Educational Corner 🎓
With the recent announcement of the upcoming launch of bonds on GCash through its partnership with PDAX and Bureau of Treasury, learn how to secure crypto earnings with bonds.
Regulation Watch 📜
Stay informed about the latest regulatory updates and what they mean for you:
NFT collection CyberKongz received a Wells Notice from the SEC, signaling potential charges after years of discussions regarding its gaming and smart contract activities.
The US SEC issued a Wells Notice to crypto investment firm Unicoin signaling its intent to sue for fraud, deceptive practices, and the sale of unregistered securities.
The FCA released a discussion paper seeking industry input on tightening regulations to prevent abuse and improve transparency in the UK crypto market.
Community Spotlight 🔦
Meet Juliane Indiongco (LinkedIn): She is one of the key people for the ICP adoption in the country.
She is currently Internet Computer Protocol’s Hub Ambassador—she previously served as the Philippine Growth Lead.
Indiongco is a content creator for web3 known as Modern Mulan.
In 2023, she hosted the ICP Meetup that was a part of the Philippine Blockchain Week in Pasay City.
More Web3 and AI News 💡
Discover the latest in web3 and AI innovation.
Lido is phasing out its staking service for the Polygon PoS chain due to limited user adoption, insufficient rewards, and high maintenance requirements.
Avalanche's "Avalanche9000" upgrade cuts costs, introduces new validators for custom subnets, and lowers transaction fees to attract developers.
Eliza Labs partnered with Stanford University to research how autonomous AI bots can integrate with the digital asset economy.
Web3 Gaming Section 🎮
The future of web3 is gaming, and here are the latest news.
Domi Online's Public Playtest (Dec 14-21) offers a $10,000 prize pool, including rewards for top players, a $BEAM token airdrop, and a bug bounty program.
NFL Rivals' Arctic Blast season offers exclusive NFT cards, a solo campaign, Battle Pass rewards, and special events with winter-themed content.
Wild Forest revamped its Perks system, adding a rarity structure with Common, Uncommon, and Rare levels to enhance unit abilities.
Event Announcements 📅
Don’t Miss Out: Upcoming events, webinars, and meetups in the crypto space in the Philippines!
IC HANGOUT X'MAS PARTY: December 19, 2024
DOTcember Holiday Meetup: December 20, 2024
Cebu Blockchain Conference: January 17-18, 2024
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