was created to:
Impero has chosen to work with economic zones in Asia to develop its Offshore Blockchain and Financial Technology Solutions business unit, the “central hub” being at the Freeport Area of Bataan (FAB), Philippines and regulated by the Authority of The Freeport of Bataan (AFAB), under the Office of the President of The Philippines. This will bring additional value to the digital economy in the Philippines and attract more foreign investments into the country.
Impero received its CERTIFICATE OF ACCREDITATION from AFAB and is the Exclusive Technology Solutions partner of Grand Innovasia Concept Corp (GICC), which is registered as an AFAB Enterprise, and where AFAB previously granted GICC (in 2013) a Master Licensor of Internet Solutions/Gaming activities exclusively for the international market.
1. Assist AFAB in the Monitoring and Auditing of foreign companies setting up operations in Asia, that will form Offshore Blockchain and Fintech organizations in the Philippines (inside the FAB) deriving revenues from international markets.
2. Provide institutional blockchain and fintech solutions for the digitization of traditional economic sectors at a government level and,
3. Authorized to evaluate, process, verify and endorse all applications to engage and operate OBFTS business activities within the FAB, and is responsible for ensuring ongoing compliance with ODAL policies accompanied by AFAB’s Auditing and Monitoring System.
The development of The Authority of the Freeport Area of Bataan’s (AFAB) digital ecosystem allows organizations to focus on their objectives, while AFAB’s Auditing and Monitoring processes, in addition to its “Enabling environment” and “Ease of Doing Business” practices allows peace of mind.
No. 11453
AN ACT FURTHER STRENGTHENING THE POWERS AND FUNCTIONS OF THE AUTHORITY OF THE FREEPORT AREA OF BATAAN (AFAB).
Excerpts from RA No. 11453
Sec. 4. Governing Principles
(a) The FAB shall be developed and operated as a decentralized self-reliant and self-sustaining industrial, information and communications technology, multinational trading and investment center, including emerging and future technologies such as artificial intelligence technology, blockchain, financial technology solutions and virtual reality.
As seen on
BLOCK
MAGAZINE
AIBC
June 2021
Pursuant to R.A. 11453, entered the Offshore Blockchain and Financial Technology Solutions Licensing (OBFTSL) business activities inside the Freeport Area of Bataan (also known as AFAB), under the Office of the President. The FAB has both the best location and economic incentives with future technologies and regulations. Establishing business at FAB is the most secured, viable and acceptable area of investment with its legal mandate.
GICC expanded its business by establishing a separate division and partnered with Impero Group for its Blockchain and Financial Technology Solutions business activities within FAB.
There is a paradigm shift in the technology sector which is affecting humankind and “The BLOCKCHAIN ENABLED SOCIETY TECHNOPOLIS” (BEST) is pioneering an initiative in Asia, where future technologies are embraced and technological innovations are created.
Republic Act 11453 gave greater powers to the AFAB and made way for the Offshore Blockchain and Financial Technology Solutions (OBFTS) Policy. By fostering future technologies through the provision of a global hub of innovation within the Freeport Area of Bataan, it will accelerate the digital transformation of the Philippines, providing greater economic opportunities for all.
Smart infrastructure and smart governance by the utilization of blockchain technology, where key area of the governance of the city will be recorded on blockchain to provide a trusted database of information.
Furthermore, the concept of Philippines’s FIRST smart city enabled by blockchain technology totaling 15 hectacres inside the FAB, will lead an advanced ecosystem that is going to utilize digital currency as its primary form of trade and commerce. Moreover, the built-in trust and integrity of blockchain allow control for the people by the people, a true democratic society.
The FAB Registered Enterprises who qualify for an Offshore Digital Asset License issued by AFAB will be domiciled inside Bataan’s BEST as this revolutionary city will serve as the Offshore Financial Center powered by Blockchain.
As the world advances and becomes more technologically focused, significant employment opportunities will arise, we aim for the Philippines to become a world centre for technological development and education through the FAB BEST initiatives.