Twala, a blockchain-powered digital identity, and digital signature platform, recently collaborated with the Philippine Supreme Court to provide inputs in their ongoing work to draft rules to allow electronic notarization in the country. The consultation meeting, which took place on April 12, is part of the Supreme Court's efforts to establish a legal framework for e-notarization.
As digital technology continues to advance, electronic notarization has become increasingly important in providing a secure and efficient way of verifying and authenticating digital documents. Twala's blockchain technology offers a tamper-proof way of verifying digital signatures, ensuring the authenticity and integrity of electronic documents. The Department of Science and Technology (DOST) awarded Twala a P4.6M grant in 2022 through the DOST Startup Grant Fund program to help it advance its research and development in distributed ledger technology or blockchain with applications in secure esignatures, digital signatures, and digital identity.
The consultation with tech startups like Twala is a significant step towards the adoption of electronic notarization in the country. By leveraging blockchain technology, Twala can provide a more secure and efficient way of notarizing documents, benefiting individuals and businesses.
With the use of modern technology, including blockchain, electronic notarization can provide a more efficient and secure way of verifying and authenticating digital documents, unlocking billions in value for both the private and public sector.