Digital transformation or the integration of different expertise and technologies such as Internet of Things (IoT), Blockchain, Robotics, and Artificial Intelligence (AI) is the best option to power smart cities and recover the country’s economy from the effects of the pandemic and onslaught of natural calamities.
This was what Mario Marcos, president and chief executive officer of Smart Citi Teknologi (SCT) said regarding the best way to recover faster from the impact of the recent pandemic and calamities, and create sustainable and livable cities, during the “Powering Smart Cities with Digital Technology Integration” media launch held at the Manila Hotel.
Marcos said it has been proven during the pandemic that the people of the Philippines, particularly the young ones, survived even in the middle of lockdowns using the latest technologies, connectivity and online solutions.
“When we do it with the power of integration, the results would be 100%. Everyone would be productive because the talents and skills of every individual have been integrated, and combined with the best. If we don’t have the capability, we will be late and we cannot move forward,” said Marcos.
To start the digitization, the first step that should be done is to lay down the foundation of integrating different expertise and different technologies.
SCT collaborated with technology companies as a way to address the issues. These organizations include Xtreme Business Enterprises (XBE), a technology group with broad expertise in Web 5 and its adoption and implementation by companies in all industries; Coinllectibles which provides authentication, valuation and certification services, as well as leveraging Blockchain technology through the creation of digital ownership tokens (DOTs); and Marvion which also leverages Blockchain technology.
It was also announced in the launch that the three integrated projects to be powered by digital technology integration include the Philippines Stable Coin, a game-changing initiative aimed at revolutionizing the country’s financial sector. It was initiated as a measure to alleviate poverty and improve financial inclusion in the country. The project aims to provide a stable and reliable medium of exchange to the unbanked and underbanked population, who often have limited access to financial services.
The second project is the Blockchain-enabled Membership Program for Sustainable Tourism which aims to develop an island in the Philippines into a world-class high-tech business and leisure destination. Through the adoption and implementation of innovative technologies including Blockchain, AI, and ESG (Environmental, Social, and Governance) strategies, the project aims to create a sustainable and forward-thinking development that will bring economic and social benefits to the region. The membership program focuses on promoting eco-friendly practices, including using biodegradable products and reducing energy consumption. The island’s natural beauty and sustainability practices make it the perfect location for a luxury membership program.
The third is to seek investment and interest in a prestigious European auction house, a gateway for promoting and exporting the beauty of Philippines art, heritage, and culture to the world. The auction house sets out to create the world’s first Blockchain, AI, and ESG-powered auction house that meets the needs of modern buyers and sellers. In addition, the adoption of ESG principles in the auction process will promote environmentally friendly and sustainable transactions that positively contribute to preserving the future of the assets being auctioned.
