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First-Ever Philippine Blockchain Week Gets Underway, as the Philippines Aims to Become Asia’s Blockchain Capital
November 30, 2022 News


Written by: Martin Dale Bolima, Tech Journalist, AOPG.

The Philippines is staking its claim as Asia’s blockchain capital, and the first-ever Philippine Blockchain Week is a step towards fulfilling that goal.

Granted, it seems too lofty and ambitious of a goal—one that appears to be a pipe dream at best. But Donald Lim, CEO at Dito CME, begs to differ. In his keynote to formally open Philippine Blockchain Week 2022, Lim pointed out that the Philippines is actually well positioned to become the blockchain capital of Asia, largely because the numbers are in the country’s favour.

“Our vision is bigger than all of us, and it’s very simple: To position the Philippines as the blockchain capital of Asia. We have all the numbers—110 million in population. We have the most open-minded government officials who are leading us,” explained Lim “We have already the infrastructure that we need in establishing this. We have businesses just waiting and wanting to say, ‘Let’s jump in’—if we only know how. We have the biggest user base in the world. We are number 1 in terms of wallets and NFTs (Non-Fungible Tokens) minted. It’s right about time all of us made that leap.”

A Big Leap Forward in Blockchain

The Philippines is already making that leap according to Lim, and at the centre of it all, will be a soon-to-be-established Blockchain Council. This council will serve as an advisory board not only to the government but also to businesses, organisations and individuals looking to leverage blockchain. The council will also take point in educating industry players on how to best use this technology and make the most out of it.

Incidentally, the Blockchain Awards, which will culminate in Philippine Blockchain Week 2022 on the 2nd of December, will highlight how blockchain pioneers are making the most out of blockchain—and making a whale of difference as a result. The awards will be given to the “movers and shakers” of the industry, and they might serve to inspire the local blockchain community to drive the technology forward even more in the years to come.

A Transition Full of Challenges

This community, however, needs to grow a lot more if it is to move blockchain into the mainstream, where it can fulfil its immense promise. But that will only happen if more people actually give blockchain a try—something Ian Utile, Co-Founder of IP3 and Co-Producer at NFT.NYC, is encouraging people to do boldly and with conviction. Utile, however, emphasised there will be plenty of growing pains, which he says is normal when people transition from one technology to another.

Growing pains and risk notwithstanding, the unique thing about using blockchain is that everyone is on a level playing field since the point of blockchain, according to Utile, is “to stop centralised power, to stop celebrity, to stop the rock star mentality.” Meaning, all are equal in blockchain, and the more it succeeds, the more it will break down traditional seats of power, like centralised governments and large corporations. And with a more level playing field, everyone stands a better chance to succeed and get something from the digital world.

A Four-Day Flagship

Lim and Utile were just two of several speakers who shared their insights on day 1 of Philippine Blockchain Week 2022. Currently being held at the Marriott Grand Ballroom in Manila, the weeklong conference expo will run until Friday, the 2nd of December, when the aforementioned Blockchain Awards will be handed out.