Photo Caption: Taiwan Parliamentary Coalition for Blockchain (TCPB), Cagayan Economic Zone Authority (CEZA) and the Asia Blockchain and Crypto Association (ABACA) solidified their joint commitment to promoting bilateral trade.
Back, from left: Ryan Terribilini (Formosa Financial), Mel Songco (ABACA), Ron Tucker (Australian Digital Commerce Association), Cyong-Hua Chen (National Development Council), James Huang (BAAS Holdings), Feng-Yuan Zhang (Taipei City Hall), Gow Wei Chiou (Office of Parliamentarian Affairs), Yi-Ping Liu (East Asian and Pacific Affairs), Weili Liu (GDP) Front, from left: Rory Lambino-Torres, Anthony Jude Violago (San Lorenzo Builders and Developers Group), Enrique Gonzalez (ABACA), Congressman Jason Hsu, Agrimera A. Cruz (CEZA), Sheng Lo (Ministry of Economic Affairs)

Taiwan legislator and head of the Taiwan Parliamentary Coalition for Blockchain (TCPB) Jason Hsu, the Philippines’ Cagayan Economic Zone Authority (CEZA) and the Asia Blockchain and Crypto Association (ABACA) recently signed a memorandum of understanding to promote bilateral trade, quality exchanges and cooperation between the two countries.

Enrique Gonzalez, Vice President of ABACA—a self-regulatory organization directly under CEZA—said the MoU will establish the Taiwan-Philippines Digital Corridor that will connect Taipei, Kaosiung, Cagayan and Manila together, with blockchain technology as the foundation for better economic cooperation.

Moreover, CEZA Deputy Administrator Agrimero Cruz Jr. said the MoU will develop official relations between Taiwan and the Philippines’ economic and trade ministries.

“Kaosiung City is only 318 miles from Cagayan and many of our citizens are able to receive radio stations from Southern Taiwan,” Cruz said. “The MoU will enable private bilateral relationships (with Taiwan) for the good of the blockchain industry.”

Cruz also said blockchain technology possesses tremendous potential to be implemented in various industries, such as agriculture, fisheries, and financial technology.

To sustain the relationship, Hsu said he will publish a series of bilateral cooperation plans with CEZA and ABACA, including a coordinated visit to the Philippines with the Taiwan Ministry of Economic Affairs, National Development Council, and various local government units.

“The MoU signing will not only forward the relationship between Taiwan and the Philippines, it will also help Taiwan become the ‘Blockchain Island’ within the Asia-Pacific region,” said Hsu.

During his earlier visit to CEZA, Hsu said that blockchain can be applied to daily life and highlighted its benefits to both countries.

“Taiwan and the Philippines are not only close by distance, there are also 100,000 Filipino migrant workers on Taiwan soil,” Hsu said. “Through blockchain technology, we can create an open, transparent, agile and safe currency exchange environment that will benefit the citizens of our nations.”

In May 2018, Hsu led the formation of TCPB and the Taiwan Crypto Blockchain Self-Regulatory Organization (TCBSRO). In the second half of the same year, the bipartisan alliance increased the international visibility of the blockchain industry in Taiwan and led various MoU signings with nations such as Japan, South Korea, Singapore and Australia.