The National Confederation of Cooperatives (NATCCO), an organization advancing cooperative movement in the Philippines, has concluded its inaugural Billionaire Co-ops’ Summit 2023 by signing a landmark two-year contract worth P2 million with blockchain-powered digital identity and digital signature platform Twala.

NATCCO signed a two-year subscription with Twala to utilize its document automation solutions, further enhancing its stakeholder services. This makes NATCCO the exclusive distributor of Twala’s advanced products and services to its member cooperatives nationwide.

Moreover, this collaboration enables cooperatives to modernize their operations and improve member services using innovative digital solutions.

“This alliance brings together the expertise of NATCCO and the innovation of Twala to empower cooperatives with the tools they need to excel in today’s digital age,” NATCCO Chief Executive Officer Engr. Sylvia Paraguya said.

This agreement also pursues Twala’s mission to help unlock billions of pesos tied to inefficient paper-based processes.

During NATCCO’s summit, themed “Builders of Sustainable Sector and Country,” Twala Co-Founder and General Counsel Atty. Herminio “Third” Bagro shared the legal framework surrounding electronic and digital signatures in the country and how these can reshape cooperative operations and promote their growth.

“The Philippines has sufficient legal and administrative rules and issuances that recognize electronic and digital signatures as equivalent to wet signatures,” Atty. Bagro said.

The summit was held at the Eastwood Richmonde Hotel, and hosted more than 40 cooperatives, particularly those with assets totaling at least P1 billion each.

Last April 12, Twala collaborated with the Supreme Court to provide inputs in their ongoing work to draft rules to allow electronic notarization in the country.