A foreign business wanting to set up in the Philippines needs to go through the legalities. World Token Issuing Alliance (WTIA) did just that and got a step closer to fully launching its business by obtaining a license from the Cagayan Economic Zone Authority (CEZA).
Here are the basics about WTIA:
The WTIA is a network of some of the world’s top business, infrastructure development, blockchain advisors and discerning investors, bringing capital, technology and know-how to developing countries and large multi-national corporations. WTIA has experts with in-depth experience in building traditional businesses, working with experts within the blockchain industry to bring together the best of both worlds. Focusing on asset-backed mineral resources and real estate, WTIA brings together an ecosystem of investors, technology providers, developers and operators that will turn business ideas profitable, and deliver viable, usable solutions for government.
WTIA works with some of the world’s largest blockchain and asset tokenization projects and is responsible for bringing together such projects as Monopoly Hotels & Resorts (MHR); Smart City Company (SCC); and many more.
To put it simply, they have future project plans that will bring in positive economic growth in the Philippines and give Filipinos various jobs which in turn will create better lives for their families thus a brighter future for the next generation.
During the presscon, there were talks about creating a bustling city with new businesses here and there. Of course, they would need local hands to help in building infrastructure. This will be much awaited because jobs will mean regular food on the table, a better life for most including the children, and a boost in tourism.
A school, a power plant, telecoms and a whole lot more are on the minds of WTIA and they have successful projects abroad to prove their good intentions for this country. Foreign investors will flock in and as long as all will be legit, of course, the Philippines will also somehow benefit.
“WTIA is all about supporting Real Projects that have a positive impact on the community and country. Projects that deliver economic growth, create high-value jobs, and can benefit from blockchain technology’s transparency, trust, and security,” says Keunyoung Kim, the chairman of WTIA.
With the increasing popularity of blockchain and its growing ecosystem of tokens, liquidity ensures fair pricing for projects through market dynamics and allows users to invest in the success of projects that they support.
“We are very excited to receive this important license from CEZA. WTIA will be able to help our projects develop tokenization models based on asset digitalization, solving many of the problems and bottlenecks in the current marketplace. Through WTIA and blockchain technology, we can bring real projects to fruition, creating economic prosperity and jobs for all.” said Kaycee Kim, CEO of WTIA.
The ability to tokenize assets is creating a quiet revolution in the financial world. The digital tokenization of assets such as real estate, corporate assets, and even IP allows assets to change hands conveniently, quickly and cheaply, without the need for complicated processes and even middlemen. Information is stored on an immutable ledger, secured via a decentralized network, and linked through cryptology, creating a trusted system for the transfer and verification of ownership. Many mainstream financial institutions and asset management companies are very interested in the prospects from this technology and are considering the issuance of tokens backed by real-world assets.
WTIA is the advisory and capital market solution of some of the biggest real-world blockchain projects in the world. Projects include sovereign-level tokenization programs, utility-token driven business models for listed companies, tokenized infrastructure securities, high technology applications and much more. Governments and large corporations seeking a new paradigm in management, asset utilization, business development and stakeholder engagement have joined the WTIA. By licensing WTIA in the Philippines, we are confident that Philippines efforts to develop its virtual currency and blockchain industry will lead the region in the years to come.