- The Philippines makes strides in adopting and integrating blockchain technology.
- Filipinos can now make their social security payments in USDT.
- This collaboration is brought to them by Uquid, Tether, and the TON blockchain.
The crypto revolution is expanding faster in the eastern hemisphere. With bullish news coming from Japan via Sony’s crypto exchange launch, the Philippines is hot on its tail with its own bullish crypto announcement.
Pay Social Security System contributions with USD₮ on @ton_blockchain via @uquidcard in Philippines
— Tether (@Tether_to) July 1, 2024pic.twitter.com/8WJyNVH0ux
In detail, Tether is collaborating with Uquid to allow citizens of the Philippines to pay their social security system contributions in USDT. More excitingly, this social security payments system will run on the TON blockchain.
To highlight, this collaboration will revolutionize social security payments for the locals and simplifies the entire process for the nation as a whole. Furthermore, Uquid, being a decentralized business infrastructure platform, enables seamless use for Filipinos to pay their contributions without any hassles or security risks.
This system serves employees across multiple sectors, ensures security and efficiency, and supports blockchain collaboration. All in all, the partnership showcases the nation’s modern approach to process payments for the state-run social security system.
The Philippines has taken many strides to appreciate and adopt crypto and blockchain innovation within its border. For instance, the country has discussed implementing blockchain-based elections and is working on a Peso-pegged stablecoin.
More interestingly, the Philippines held the title of the country most interested in web3 gaming more than once. Indeed, the country is very welcoming towards integration of blockchain technology into its borders. However, this is likely one of the first instances where the tech has been integrating into public services.
This collaboration is also a huge milestone for The Open Network (TON). The TON blockchain has had an incredible run so far. This year the asset entered the top 10 market cap list and is still set to make a more flourishing performance during the golden bull run phase.
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