The BSV Blockchain Association is confident that the Philippines has the potential to become a global leader in blockchain technology. Representatives from the association expressed their optimism during a recent interview in Manila. They highlighted the numerous use cases for blockchain in the country, including open banking, central bank digital currency (CBDC), and improving payment systems.
The association believes that by adopting blockchain for commerce, Filipinos will have unrestricted access to the global digital economy. However, achieving these goals will require collaboration between the government, private sector, and academia. The association is working on a blueprint that involves partnering with universities to introduce blockchain technology into the curriculum and expand the nation’s talent pool.
“We’re starting there and showing how people can use BSV Blockchain in real applications that are actually valuable instead of speculative,” said Evan Freeman, Director of Education at the BSV Blockchain Association.
In addition to academia, the association is also engaging with key government agencies to promote the adoption of blockchain technology. The Securities and Exchange Commission, Bangko Sentral ng Pilipinas, and the Department of Information and Communications Technology are among the agencies the association plans to collaborate with. Discussions will focus on leveraging blockchain for building a national digital identity system, programmable money, and Web3 regulation.
The Philippines, with its young and tech-savvy English-speaking population, is seen as an ideal candidate to lead in blockchain technology. The country has already started exploring blockchain solutions, such as UnionBank’s plan to improve operations for SMEs and the Treasury Bureau’s experiment with tokenized bonds. The Bangko Sentral ng Pilipinas is also conducting studies to enhance its financial market infrastructure using blockchain.
The BSV Blockchain Association’s efforts aim to position the Philippines as a prominent player in the global blockchain industry. With continued collaboration and advancements in blockchain adoption, the country has the potential to become a hub for innovation and technology-driven progress.
The source of the article is from the blog anexartiti.gr