SINGAPORE, May 3, 2023 /PRNewswire/ — Bonanza Goldfields Corp. (OTC:BONZ) and Smart Citi Teknologi have signed a Memorandum of Understanding (MOU) effective as of March 31, 2023, to enter into a mutually beneficial partnership for the purpose of rolling out Smart Cities Solutions with membership digital ownership tokens.
According to the terms in the MOU, Bonanza Goldfields Corp will be engaged in providing services related to Membership Digital Ownership Tokens (“Membership DOTs”) to Smart Citi Teknologi, a Philippines-based tech company specialized in the development and integration of technologies into Smart Cities Solutions. Smart Citi Teknologi is a visionary company which aims to create sustainable and liveable cities through the use of cutting-edge technology.
Membership DOTs are a type of digital asset that represents ownership or membership rights in a particular organization or group. These tokens are typically stored and traded on blockchain networks, allowing for secure and transparent ownership and transfer of membership rights. By owning a Membership DOT, individuals can enjoy the benefits and privileges associated with their membership.
Commenting on the partnership, Joshua Chu, Chief Risk Officer of Bonanza Goldfields Corp said, “We are all members of a society and it is such membership that entails certain societal benefits. To this end, humanity has made great leaps from the stone age where, in the past, a person’s worth is stored in a pouch, has evolved into portfolio in the modern age (far too difficult to keep good track of). To this end, Membership DOTs will enable members of society to seamless enjoyment of their life’s work in the most fashionable of manners.”
“We are thrilled to be partnering with Bonanza Goldfields Corp. to roll out Membership DOTs in our Smart Cities Solutions,” said Mario Marcos, President and Founder of Smart Citi Teknologi. “We believe that this partnership will bring about innovative solutions that will revolutionize the way we live and work in Smart Cities.”
Raymond Chua, Chief Executive Officer of Marvion, a wholly owned subsidiary of Bonanza Goldfields Corp added, “This partnership is a significant step towards the development of Smart Cities Solutions. Our expertise in Membership Digital Ownership Tokens combined with Smart Citi Teknologi’s capabilities in developing and integrating technologies into Smart Cities Solutions will enable us to create innovative solutions for all respective markets.”
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Bonanza Goldfields Corporation is a Nevada holding company that through its subsidiaries are engaged in the media distribution business. Specifically, we provide authentication, valuation and certification (“AVC”) service, sale and purchase, hire purchase, financing, custody, security and exhibition (“CSE”) services to buyers of movie and music media through traditional channels as well as through leveraging blockchain technology through the creation of digital ownership tokens (“DOTs”).
The group is building an ecosystem and a metaverse for the media and entertainment industry that implements and adopts blockchain and NFT technologies, through mergers and acquisitions.
About Smart Citi Teknologi
Smart Citi Teknologi is a Philippines based Tech Company specialized in the development and integration of technologies into Smart Cities Solutions. Its vision is to create sustainable and liveable cities through the use of cutting-edge technology.
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SOURCE Bonanza Goldfields Corp.