Blockchain Social Philippines is back with its fourth installment at the exclusive Manila House Private Club in BGC, Taguig, last November 20.
The night saw members of ASEAN nations from Cambodia, Thailand, Vietnam, the Philippines, and other countries like Japan, the United Kingdom, and Germany gathered to discuss nChain and Block Dojo’s initiatives and projects ahead of the week-long Digital Pilipinas 2023. UNISOT’s CFO Torje Sunde was also present, along with nChain Executive Chairman Stefan Matthews and Digital Pilipinas lead convenor Amor Maclang.
What nChain has been doing so far
Due to flight delays, nChain’s Christine Leong and Simit Naik couldn’t join the celebration, as stated by Matthews, although the two were on hand to speak at the Digital Pilipinas 2023 conference. Setting aside the unfortunate news, Matthews excitedly revealed an update the global blockchain solutions team has successfully reached.
“I want to share something that the team is currently working on, a node software Teranode,” Matthews said. “I saw with my own eyes, watching screens [and] test results two months ago [how] we’re processing over the course of two weeks around 1.5 million transactions per second.”
Adding to the good news, Matthews tells the audience that the Teranode team is doing a little polishing and will be doing a six-month sustained test of the software, which will kick off in January 2024.
“Will see if the network process will exist around 1.5 million transactions per second sustained over the six-month period of time to prove that the node software is solid, [and] there are no bugs in there. There’ll be all sorts of process transactions going through so that we can see the impact of different combinations of transactions over a strained period of time,” he explained.
Before closing his brief speech, the nChain chairman shared that Teranode, once fully released, will stimulate real network configurations that would benefit governments worldwide to secure their transactions privately.
“As a founder of nChain…I’m very proud of what the Teranode team has done,” he noted.
Quick Block Dojo Philippines update
Stephanie Tower—nChain’s Business Development Lead in the Philippines and the host of the Blockchain Social Philippines—asked Kristoffer Briones, managing director of Block Dojo Philippines, on the updates of the 12-week incubator program. Briones shared that Block Dojo has gathered up to 49 startups and is looking for more participants.
“You know, we’re the new kids on the block—pun intended. We’re looking for startups. So if anyone has an idea and blockchain can solve that problem, we’re the guys to go to,” Briones shared. “If you’re entrepreneurs, come to us.”
In an interview with CoinGeek, Briones, suggested that entrepreneurs venturing into the startup industry must begin by identifying a problem that resonates with the public first before searching for solutions and leveraging technologies to build upon it.
Toffer Briones, Managing Director of Block Dojo Philippines, discusses the significance of validating problems for tech #startups and how this can enhance the overall process of devising solutions. pic.twitter.com/yghJLMq51S
— CoinGeek Philippines (@RealCoinGeek_PH) November 23, 2023
Watch: Block Dojo Philippines bets big on blockchain tech startups
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