MANILA - The Department of Information and Communications Technology (DICT) on Wednesday signed a deal with a US-based firm for promotion of blockchain technology in the country.

Under the deal, American company Monsoon will provide complimentary consultation, cost-benefit and socio-economic analysis on the use of blockchain in the country, the DICT said in a statement.

“This partnership will directly benefit our continuous effort to address the country’s issues on ease of doing business and cybersecurity,” Acting Secretary Rio said.

PHOTO: DICT and Monsoon Blockchain Storage Inc. signed a MOA earlier for utilization of blockchain technology for government's national ICT development agenda.

Acting Sec. Eliseo Rio, Jr. and Dr. Donald Basile, CEO of Monsoon led the ceremonial signing. pic.twitter.com/OegiyKESH9

— Department of ICT PH (@DICTgovph) June 19, 2019

Acting secretary Eliseo Rio and Monsoon CEO Donald Basile signed the MOA Wednesday.

-- with a report from Bruce Rodriguez, ABS-CBN News