According to BlockBeats, on August 1, the Venom Foundation, a Layer 1 blockchain entity, announced a historic agreement with the Republic of the Philippines to digitize billions of forms using its advanced blockchain technology.

By leveraging Venom, the Philippine government has demonstrated unprecedented trust and confidence in blockchain as a secure, scalable, and efficient solution for national operations. This initiative is expected to revolutionize how government and large institutions handle data, transactions, and record-keeping, setting new standards for transparency and efficiency.

The Venom technology will be used to digitize approximately 10 billion traceable forms, including but not limited to invoices or receipts, cash tickets, document stamps, and special bank receipts. Each form will be individually identified, accounted for, and provided with appropriate security protection. This move marks a new phase in the country's digitalization process.