The Blockchain Council of the Philippines (BCP), a non-profit organization, has joined forces with the Department of Information and Communications Technology (DICT) to promote the adoption of Web3 technologies in the Philippines. With an increasing number of innovative blockchain startups emerging in the country, there is a growing belief that the Philippines has the potential to become a global leader in blockchain.
BCP’s primary objective is to accelerate the adoption of blockchain technology within the country and position the Philippines as a prominent player in the blockchain industry. To achieve this goal, BCP plans to collaborate with various stakeholders, including government bodies, Web3 developers, civil society organizations, and businesses. Through education and cooperation, the council aims to foster a thriving blockchain ecosystem in the Philippines.
The partnership between BCP and DICT, the executive department responsible for the nation’s information and communications technology agenda, highlights the government’s recognition and support for blockchain technology. DICT Director Emmy Lou Versoza-Delfin acknowledges the rise of innovative blockchain startups and successful blockchain-based business solutions in the country. This positive development indicates that the Philippines is ready for blockchain adoption and has the potential to be a leading force in blockchain education and industry globally.
In a recent interview at the BTC Prague event, Ethen Rose, founder of Pouch, a wallet service supporting the Bitcoin Lightning Network in the Philippines, discussed the challenges of introducing Bitcoin to the local population. Presently, efforts are being made to present Bitcoin as an alternative method for merchants to attract customers to their businesses.
Overall Impact and Future Prospects
This collaboration between BCP and the Philippine government marks a significant step towards fostering Web3 adoption in the Philippines. By leveraging the expertise of the BCP and the support of the government, the country aims to create an environment conducive to blockchain innovation and technology-driven economic growth.
The partnership between BCP and DICT demonstrates the commitment of the Philippines to embrace blockchain technology and position itself as a global leader in the blockchain industry. By working together with various stakeholders, the country seeks to harness the potential of Web3 technologies and create new opportunities for economic development and technological advancement.