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Blockchain Social Manila talks about how the Philippines can use blockchain technology

Blockchain Social Manila Poster

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BSV has officially arrived in the Philippines and the recent Blockchain Social Manila is proof of that. The event was attended by the likes of Elas Founder Brendan Lee, nChain Executive Chairman Stephan Matthews, and BSV Blockchain Philippines Ambassador and National Director of nChain Nicholas King to explain how the Philippine government and private sector can use the original Bitcoin protocol, Bitcoin SV.

Blockchain Digitization Meets Manila

Held last October 24 at the Manila House in Bonifacio Global City in Taguig, the Blockchain Social Manila event brought together global opinion leaders, industry players, government officials and digital currency enthusiasts, including Brian Koo, former CEO of Grab Philippines.

Koo, currently the co-founder and CEO of a community group platform called SariSuki, shared with CoinGeek’s Claire Seldran how the platform works with essentials and how blockchain can be used to make it more efficient.

“Blockchain really got my attention because of its community building aspect and I strongly believe that blockchain is here to stay. I like BSV because it’s a level one project… from what I’ve heard tonight, it’s something interesting and something that could make a big difference,” he said.

Blockchain adoption in the Philippines

Lee started his talk with an interesting question: “What is the use of blockchain?”

He then explained the history of Bitcoin and how the blockchain works, saying, “Everything that is created, everything that works today, or at least 90% of it, works on paper. What we have with Bitcoin is a way to create a new document form with new media. [that] instantly [and] cheap.”

The Philippines is still heavily dependent on paper, especially for transactions, Li said. Blockchain can replicate this process digitally and instantly.

“Philippines is a place where everything really works on paper. And every time you go to do something, there’s a piece of paper that someone has to pull out and fill out. And in fact, what blockchain offers us is a way to simplify any process that uses paper and return to it without disrupting the continuity of this process,” Brendan explained.

Education leaders such as Jonathan Diao, vice president of administrative affairs at Mapua Malaya Digital College, have seen Filipino appetite for blockchain. He agreed with what Brendan said, saying that transactions in the Southeast Asian country can be costly and tedious.

“I have always seen that transactions are very expensive. It takes a lot of time. With this new [blockchain] technology, it becomes cheaper. Transactions are completed faster. So I think we will have a good platform so that we can do some testing,” he explained.

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In closing, King, who was recently appointed BSV Blockchain Ambassador to the Philippines and Country Director for nChain, revealed that he has spent over a decade living in the country and has seen how tech-savvy Filipinos are. He praised the young demographics of the Philippines and how they welcome digital innovations such as bitcoin and blockchain.

“Young people are really embracing the whole digital economy. And indeed, the blockchain will contribute to this,” he said. “I see a fantastic opportunity to work with Philippine companies, [and] with Philippine government agencies to really bring the BSV blockchain to life here,” Nicholas concluded.

Watch: nChain’s Stefan Matthews tells CoinGeek Backstage why the Philippines will benefit the most from blockchain adoption

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New to Bitcoin? Check CoinGeek Bitcoin for Beginners section, a complete guide to resources, to learn more about bitcoin as Satoshi Nakamoto originally envisioned and the blockchain.

Written by khirou

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