According to BlockBeats, on August 1, the Layer 1 blockchain Venom Foundation announced an agreement with the Republic of the Philippines to use its blockchain technology to digitize a billion-dollar table.

By betting on Venom, the Philippine government is demonstrating its trust and confidence in blockchain as a solution for national operations, a move that is expected to change the way governments and large institutions handle data, transactions, and record keeping.

The use of Venom technology to digitize and secure approximately 10 billion forms, including invoices, receipts, cash tickets, document stamps and special bank receipts, marks a new phase in the country’s digitalization journey.