Twala, a blockchain-powered digital identity and digital signature platform, recently collaborated with the Philippine Supreme Court (SC) to provide inputs in their ongoing work to draft rules to allow electronic notarization in the country.
The consultation meeting, which took place on April 12, is part of the SC’s efforts to establish a legal framework for e-notarization.
As digital technology continues to advance, electronic notarization has become increasingly important in providing a secure and efficient way of verifying and authenticating digital documents. Twala’s blockchain technology offers a tamper-proof way of verifying digital signatures, ensuring the authenticity and integrity of electronic documents.
The Department of Science and Technology (DoST) awarded Twala a P4.6-million grant in 2022 through the DoST Startup Grant Fund program to help it advance its research and development in distributed ledger technology or blockchain with applications in secure e-signatures, digital signatures, and digital identity.
The consultation of SC with tech startups like Twala is a significant step towards the adoption of electronic notarization in the country. By leveraging blockchain technology, Twala can provide a more secure and efficient way of notarizing documents, benefiting individuals and businesses.
With the use of modern technology, including blockchain, electronic notarization can provide a more efficient and secure way of verifying and authenticating digital documents, unlocking billions in value for both the private and public sector.
Twala has also partnered with DoST-Advanced Science and Technology Institute (DoST-ASTI) to accelerate research and development in the field of blockchain technology. The Memorandum of Understanding, signed last Feb. 28, aims to promote innovative solutions that can address the pressing challenges faced by various industries in the Philippines and beyond.
Twala also announced the closed beta launch of Twala ID, a self-sovereign ID that aims to provide secure and privacy-centric identity solutions. The collaboration with DoST-ASTI is expected to further develop the technology and provide innovative solutions to support e-governance.
Furthermore, the partnership will involve conducting research studies, sharing expertise and knowledge, and leveraging each other’s resources and capabilities. Twala will also tap into DoST-ASTI’s vast network of partners and stakeholders to expand its reach and impact in the market.