<p>The Mammoth Foundation, a blockchain research and development company, <a href="https://www.etnews.com/20231122000235" rel="noopener noreferrer nofollow">announced</a> on Thursday that it has signed a memorandum of understanding (MOU) with the Authority of the Freeport Area of Bataan (AFAB) of the Philippines to establish business partnerships in the blockchain field. Under this agreement, the Mammoth Foundation intends to bring its blockchain technology to the Philippines as a part of efforts to expand its global business.</p><h2 id="header-0">Fostering innovation in the Philippines</h2><p>AFAB is a free economic zone in the Philippines dedicated to pushing development, economic growth and sustainability through creating jobs and establishing technologically-relevant infrastructure systems. In particular, it is focusing on the adoption of cutting-edge technologies such as blockchain, artificial intelligence (AI) and fintech. As one of the oldest free economic zones in Asia, companies residing in the zone are granted preferential measures such as tax exemptions and special visas. Firms that operate innovative businesses can also receive licenses to support the development of the global IT industry — the Mammoth Foundation being one of these.</p><h2 id="header-1">Global expansion and daily engagement</h2><p>Headquartered in Singapore with offices in the United Kingdom and several Asian countries, the Mammoth Foundation offers dApps in a range of fields such as healthcare, e-commerce, entertainment and gaming through its mainnet Giant Mammoth Chain (GMMT). GMMT is built on the BNB Chain Application Sidechain and is fully compatible with the Ethereum virtual machine (EVM).</p><p>Participants in GMMT can acquire token rewards through Play-to-Earn (P2E) and Life-to-Earn (L2E) mechanisms by participating in everyday activities and hobbies like walking, shopping, gaming and reading comics. These tokens can then be used within the Mammoth ecosystem.</p><p>“The Philippines’ market for advanced technologies such as AI and blockchain is expected to grow in the future,” said John Baek, Chairman of the Mammoth Foundation. “We will strive to expand GMMT globally.”</p>

Mammoth Foundation signs deal with the Philippines’ AFAB for blockchain business collaboration

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