BSV Blockchain Meetup Manila highlights the utility of BSV enterprise blockchain
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The Philippines is a global blockchain and digital asset hub, with the Southeast Asian country ranked behind Vietnam in this year’s Chainalysis Global Cryptocurrency Adoption Index. The recent BSV Blockchain Meetup Manila sought to bring together this fast-growing industry to talk about the benefits of blockchain technology beyond mere speculation, and it was a huge success.
Touchdown at BSV’s Blockchain Meetup in Manila. Can’t wait to see what’s in store 🤩
Follow this thread to see our coverage of the event! pic.twitter.com/KqB3DWe9rw
— The Collectiveverse (@d_collectiverse) 16 August 2022
Government officials, business leaders, startup founders, Bitcoin experts, and general blockchain enthusiasts all came together to talk about the latest developments in the space and what the future holds for the technology.
The meeting was organized by Stephanie Tower, and as she told CoinGeek’s Claire Celdran, the idea behind it was to divert attention from token speculation to blockchain tools.
“There has been so much interest around this area, but more on the digital currency side of it – trading and investing. Being able to show the data management side of what a blockchain can do is very important. We really want to put that forward to government and business,” Tower commented.
Adoption of digital assets, metaverse, NFTs and blockchains in general in the Philippines has taken off in recent years, boosted by the country’s young, tech-savvy population. The country was the biggest market for the ill-fated game Axie Infinity Web3, at one time accounting for 40% of Axie’s active players.
At the meeting, one speaker after another hammered home the message that Bitcoin SV’s infinite scaling, low fees, and stable protocol are head and shoulders above all other blockchain networks, be it for government, SMB, or enterprise data needs.
“… the sky is the limit for what can be invented [on BSV] and there’s a lot of opportunity here,” CoinGeek’s Editor-in-Chief Tom Abrahamsen told the audience.
Many of the biggest names in the local blockchain and enterprise scene were well represented. One of those is UnionBank of the Philippines, and as Blockchain and API Business Group First Vice President Cathy Casas told CoinGeek, the lender delved into blockchain “even before it was cool.”
The bank created the Blockchain Center of Excellence four years ago to “learn about the technology and how we can possibly integrate it into our operations.”
The head of growth marketing at the leading mobile wallet GCash Lorenzo Canaria was also at the meeting. He believes that the Southeast Asian country is just getting started with its blockchain adoption. As from fintech himself, he told CoinGeek that the trust that blockchain introduces would be integral to the growth of financial technology in the Philippines.
GCash, announced two months ago that it would begin offering support for digital assets in line with user demand.
The BSV ecosystem was represented by, among others, Stefan Matthews, Executive Chairman and CEO of leading transaction processor TAAL Distributed Information Technologies Inc. (CSE:TAAL | FWB:9SQ1 | OTC:TAALF).
As he told CoinGeek, he was impressed by the appetite for Bitcoin and blockchain in everyone he met at the event. He was particularly interested in the authorities who were keen to learn how blockchain can be integrated into governance.
Carlos Albornoz was among those representing the government. An official from the Department of Information and Communications Technology (DICT) revealed that the government has been surprised by the number of local blockchain initiatives recently.
According to Carlos, much of the growth is down to blockchain games.
“Gaming to make money has been big and it actually ‘lekmanized’ blockchain technology for many Filipinos. We are very grateful for that, he says.
Terry Ridon, the convener of the Philippine think tank Infrawatch PH, represented civil society, and he believes that BSV has a major role to play in the continued development of the Philippines. Terry has been a very vocal voice in digital assets, with Infrawatch PH being among the biggest critics of Binance’s illegal operations in the country.
See: BSV Global Blockchain Convention presentation, Scaling Games at Layer One: Why It Matters
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