Efforts made to establish collaborations in the Bitcoin and blockchain space are coming to fruition, with the Philippine Blockchain Week (PBW) among several platforms that contributed to the tie-up.
In September 2023, the Blockchain Council of the Philippines (BCP) organized the second PBW, this time involving state-backed agencies, a feat that council president Donald Lim is most proud of.
“I think, if you look at, if you compare a lot of the other blockchain weeks around the world, you will see very few involvement from maybe the government sector,” Lim told CoinGeek Backstage. “I think we’ve set the benchmark for really waking up the entire ecosystem.”
Apart from government agencies like the Department of Information and Communications Technology (DICT), PBW attendees also witnessed the participation of several other international stakeholders, including the blockchain federations of South Korea and Japan, which are looking to set up operations in the Philippines.
Their attendance served as a testament to the growing potential of the Philippines as a blockchain hub in Asia, noted Lim.
Lim said 2024 would be a year full of movement in the blockchain space, and entities and individuals who have taken risks during the “blockchain winter” will see their efforts pay off.
“We’re really on our way up, so it’s really riding the wave,” he noted.
While the Philippines is shaping up as a blockchain hotbed, BCP Co-founder Chezka Gonzales admitted it would be a long shot before Filipinos fully embrace the emerging technology.
To help get Filipinos on board the blockchain train, the PBW organized a metaverse fashion gala, drawing interest from across various demographics. The event was made in collaboration with renowned fashion designer Michael Cinco, who, apart from showcasing his designs on the runway, agreed to sell his unique designs as non-fungible tokens (NFTs).
“We’re slowly getting there, but we’re not there yet. It’s a long run. It’s a long, long shot to go there,” Gonzales said of achieving blockchain mass adoption, adding that educating the public on blockchain technology will take years.
Besides fashion, the PBW 2023 also partnered with giants in the gaming sector, including Tier One, Gala Games, and Mineski, to help introduce emerging technologies to the youth via the Nexus Fan Fair, a separate event dedicated to gamers, cosplayers, streamers, and fandoms that occurred on the sidelines of the Blockchain Week.
Since its inception in 2022, Gonzales said the PBW has one goal apart from getting the Philippines to embrace blockchain.
“The goal is still…to give jobs and opportunities to people,” she said.
While the PBW 2023 served as an instrumental platform in showcasing Filipino talent, it was also successful in highlighting blockchain utility, among them is how the technology can improve brand and consumer engagement.
Hyped Collective co-founder Tara Kwon was among those who participated in the PBW to discuss how her new company, Kalder, is leveraging blockchain technology, particularly in improving brand and consumer engagement.
Being part of the Web2 ecosystem, Tara jumped to Web3, believing that it would serve as a bridge to take advantage of emerging technologies’ capabilities to transform the lives of every community.
“Web3 technology, which can change Web2 life better, that’s the thing I’m involved with right now,” said Kwon, also one of the organizers of the PBW 2023.
Kwon also added that the Philippines is an ideal country to invest in and pilot new projects, citing its openness to new technologies and services.
Watch: Philippine Blockchain Week 2023 ‘Breakout’—Breaking barriers and forging the future
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