The Philippines is on its way to become a global blockchain capital, Dr. Donald Lim, Blockchain Council of the Philippines (BCP) Founding President, stated Wednesday, July 5.

Already, 6.13 percent of the country's population, nearly 7 million Filipinos, own cryptocurrency todate.

Furthermore, 32 percent of Filipino internet users say that they own non-fungible tokens (NFTs).

However, “Government intervention and support have always been critical for the adoption of blockchain technology in any country," he noted.

"For the Philippines, our government’s broad-minded stance will be instrumental in positioning us to becoming the blockchain capital of Asia,” according to Dr. Lim.

So far, the Department of Information and Communications Technology (DICT) is spearheading a Blockchain 101 initiative.

This will educate thousands of students across the National Capital Region (NCR) on opportunities in the industry.

The DICT will also conduct focus group discussions for government officials to promote the use of blockchain technology in storing government data.

Both DICT and the Department of Trade and Industry (DTI) are likewise supporting the Philippine Blockchain Week (PBW) from September 19 to 21, 2023, at the Marriott Grand Ballroom, Newport World Resorts, Manila.

The event, showcasing leaders of blockchain technology, crypto, and web3, is expected to draw thousands of attendees from different industries and regions across the globe.

DICT and DTI believes the Philippine Blockchain Week will help the government fulfill its commitment to boost collaboration, innovation, and digitization in the country.