The Philippines is fast emerging as a global hub for blockchain and other new technologies, as the Department of Information and Communications Technology (DICT), in partnership with the Provincial Government of Bataan, convened local and international blockchain experts and industry leaders for the country’s first Global Blockchain Summit on October 26-27, 2022 held at the Bataan People’s Center, Balanga City, Bataan.
The two-day summit highlighted discussions on the current state of the blockchain industry, state of blockchain regulations and compliance in the Philippines, women in blockchain, adoption of blockchain technology, revolutionizing art through NFT and P2E gaming, and future plans to strengthen the blockchain industry in the country.
DICT Secretary Ivan John E. Uy highlighted the crucial role of the emerging Web 3.0 and Blockchain Industry in creating employment and investment opportunities, and advancing countryside development even amid the global pandemic.
“As the country fully transitions to the new normal and to a new administration, the DICT remains steadfast in creating programs and projects that hope to address the growing demand from the consumers, the builders, and the enablers within the Web3.0 and Blockchain Industry. The DICT commits to continuously work with other government agencies and private organizations in Web3.0 and Blockchain Industry, for us to improve our existing initiatives and calibrate our priorities.”
Secretary Uy reiterated that investing in upskilling and reskilling initiatives to ensure a skilled workforce is one of the agency’s priorities. With this, the DICT initiated the SET PH or the Stimulating the growth of Emerging Technologies in the Philippines program that explores the potential of Emerging Technologies and develops an enabling ecosystem that supports and sustains such industries, and the Tech Trends program that aims to provide Filipinos with relevant skills and technical know-how to benefit from the jobs and opportunities in the ICT industry.
“If we can unleash the Filipinos’ potential, strengthen the commitments of both public and private sectors, and match it with the right technologies, policies, and other enabling mechanisms, we can build a digital economy that our fellow Filipinos and that the international investors can trust,” said Secretary Uy.
Bataan Provincial Governor Jose Enrique Garcia III showcased the Freeport Area of Bataan as the emerging hub for blockchain and future technologies. He stressed that Bataan’s Freeport Area is conducive for cross-border trade and exchange of digital assets, securities, commodities, options, and derivatives between and among international investors and various financial and market players.
Meanwhile, DICT Undersecretary for ICT Industry Development Jocelle Batapa-Sigue stressed that the Global Blockchain Summit intends to convene all key players and partners from the blockchain industry to spark collaboration and initiate the formation of a blockchain industry association. She added that formalizing the “Web3 Alliance” as an Industry Association will champion the Web3.0 Innovators of the country and represent the voice of the industry in terms of policy formulation and regulations.
“Formalizing the Web3Alliance will bind everyone here with a greater sense of shared responsibility, as partners and stakeholders from the blockchain industry commit to become a part of something larger than themselves and truly make a difference,” said Usec Batapa-Sigue.
At the end of the program, leaders and Blockchain Industry experts pledged to support the establishment of the Philippines’ Web3.0 Alliance and express their solidarity and unity in supporting the holistic and ethical growth of emerging industries, including blockchain.
PR and Photo from IIDB-DICT