Coins.ph, Kumu share app updates embracing Web3 on CoinGeek Backstage

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More people are embracing the world of Web3 with the latest updates made to the Coins.ph app and video-sharing platform Kumu.

In an interview with CoinGeek Backstage‘s reporter Claire Celdran on the sidelines of the AIBC Asia Summit, Coins.ph Country Manager Jen Bilango said the relaunch of its app has made it easier for users to buy digital currencies.

“Now, we’re really embracing Web3, and now, in a couple of two or three clicks of a button now, you can buy your own crypto,” she said, adding that Coins.ph has also expanded its token listing, giving users a wide variety of digital currencies to invest or trade-in.

Previously, it took a couple of months before Coins.ph could list new tokens, Bilango said. Now, with the latest update, users are treated to new tokens every week.

In addition to this, Bilango acknowledged the vital role of the gaming sector in the adoption of digital currencies in the Philippines. With this, Coins.ph has set up a gaming center on its app, allowing users to play Web3 games.

Despite the chaos that ensued following the collapse of major exchanges and the rampant security breaches in the space over the past months, Bilango said having regulatory clarity gave investors and enthusiasts a sense of security and confidence to get into the space.

“Definitely, we’re seeing a good uptick because of the recent market macro decision of the regulators,” she said, pertaining to an increase in new users of Coins.ph app.

To help engage more people in the digital currency ecosystem, Coins.ph has laid out campaigns to boost digital currency adoption, including a referral program that incentivizes old and new app users.

“We still have almost 80 or 70% of the population are still not into crypto, although it’s quite big already,” she noted. “The ethos of Web3 is sharing the incentives, and we see that the affiliate program is a way for us to share incentives.”

The biggest announcement, however, is Coins.ph’s planned partnership with merchants, which would soon allow users to buy real products and services using digital currencies.

Like Coins.ph, Kumu is setting the bar high with its newest updates to the app.

Kumu Co-founder and Chief of Staff James Rumohr told CoinGeek Backstage that the platform recently integrated artificial intelligence (AI) in its moderation services and heightened its security.

“We use AI to help detect bad actors or content that is not appropriate for our app,” Rumohr said, noting that this feature makes Kumu different from other popular livestreaming apps.

Content creators will also be challenged to create better content for viewers with the latest AI integration.

“We also use AI to help detect what is good content. So, if somebody has x amount of indicators saying that this person is a good streamer, whether it be the amount of viewers, amount of comments, amount of engagement inside that livestream, we’re able to detect that because of AI.”

With regard to blockchain technology, Rumohr said they have developed apps, such as the live play game Ube, chat novel Type Kita, and Penlab, that utilize the emerging tech.

Currently, the apps are utilizing blockchain for payments, with Rumohr adding that the team is looking to integrate blockchain into some of their apps and new developments set to come out in 2024.

Watch: The role of Web3 in the Philippines’ 10-point socioeconomic agenda