The Internet of Things and the invention of Bitcoin in 2009 started the growth of an entirely new industry and economy, decentralized and free from government control. The Bitcoin markets value is over $100 Billion globally. This number is expected to reach $1 Trillion in the next 3–5 years based on current trends. As more and more individuals adapt to using cryptocurrencies and blockchain technology, organizations that fail to adapt fast enough will end up becoming obsolete. It is therefore crucial for organizations in the 21st century to adjust and adopt technological advantages so that they remain relevant to their audience.
The Noah Foundation is a non-profit that will promote the economic growth of the Philippines and solve other social issues that exist within the country. The Noah Project aims to bring about social innovation and reduce economic disparity using blockchain technology by creating a borderless world. The project will issue Noah Coin, develop “Noah City” and its infrastructure, use the funds gathered to advertise market and circulate the Noah Coins. The Noah Project will catalyze the development of financial infrastructure that will enable currencies from different countries to be exchanged for Noah Coin; this will ease financial transactions between the various nations.
Overseas Filipino workers can benefit tremendously as one can quickly remit money back home to their families using Noah Coins. The mission of the Noah Project is to consolidate and create a common ecosystem that will enable cryptocurrency users to seamlessly integrate all existing features under the same product. The Noah Project will allow remittance, facilitate the implementation of mobile money and e-wallets, offer discounts, and trading services that will give its users unique and viable alternatives to traditional payment formats and financial tools.
The Noah Project was started in 2016 primarily focused on enhancing trade between Japan and the Philippines. Using blockchain powered applications for remittance, business to business and business to customer payments, the Noah ecosystem has bridged the gap between Japanese and Filipino citizens, travelers, and organizations. The Noah Project has also partnered up real estate projects to create an entire township driven by Noah Coins. The Noah Coins will not only serve as a digital token that will decrease costs of transferring money across economic and geographical borders. The Noah Coins will also play a part in retaining customer loyalty. It is no coincidence that Forbes Asia has called the project the Noah’s ark of the 21st century.