In an historic alliance, the first material partnership between a sovereign special economic zone and a blockchain development company Stepwyze and the Cagayan Economic Zone Authority (CEZA) have agreed to partner on the following initiatives.
Via certified memorandum of understanding with CEZA, Stepwyze leadership has penned a deal with the help of Chief Administrator Sec. Raul L. Lambino, which outlines their forward-thinking approach to the integration of new technologies like crypto-currencies and blockchain with Special Economic Zone plans and participants. Stepwyze has been in discussions with CEZA since February of 2018 and has been in consultation regarding what this industry is looking for to be successful and thrive.
Securing this agreement with CEZA signals a new era of cooperation and economic benefits for both Stepwyze, the Philippines, and in reality, any Special Economic Zone globally.
Within this partnership Stepwyze intends to create an ICO (initial coin offering) to fund the development of a blockchain solution for monitoring and auditing cryptocurrency, virtual currency exchanges, as well as the likely integration of gaming and port operations of their free port.
In conjunction with the ICO creation and management, Stepwyze will publish a white paper, ICO member customer support team, and a website to promote and manage all sales of the new coin. Stepwyze will also be operating a Principal license for a cryptocurrency exchange under which Stepwyze is authorized to sublicense additional exchanges to operate in the special economic zone.
Stepwyze will be creating an automated, transparent, reporting system which will assist in the integration to current government systems to modernize, and smooth the authority management of economic activity within the zone.
Stepwyze is very proud and gratified to work with Sec. Lambino, and all of CEZA to make this extremely successful. The partnership participants believe that this can make Cagayan the next Silicon Valley or Singapore, fostering technology and development in the Philippines.