It is now the turn of central Philippines to look at blockchain for improving its economy.
After a strong initiative by its peers in the northern part of the country, Bacolod City in the province of Negros Occidental in central Philippines has jumped on the blockchain bandwagon in hopes of boosting the economy in underserved countryside communities.
Bacolod City Councilor Em Ang stated during the recently concluded Bacolod Blockchain Initiative (B2CI) held at Carlos Hilado Memorial State College (CHMSC):
“The activity introduces blockchain technology which has been in mainstream media because of the popularity of one of its applications known as cryptocurrency.”
The B2CI initiative is expected to enhance the value chain of the information and communications technology (ICT) sector, particularly in rural areas. Ang also serves as the ICT focal person in the province.
As part of the project, various programs are being developed to incorporate blockchain learning and certification when drafting the province's academic curriculum. The nascent technology is seen as a significant factor in boosting Bacolod's image as an emerging investment destination for ICT-based companies.
The government’s official news website reported:
“The B2CI team is comprised of Randy Knutson, Jason Tuason and Gail Macapagal of DynaQuest Technology Services, Daniel Adams and Chris Thompson of Ethereum World, Hitesh Parekh, Angela Sunga, Miguel de la Rosa of Global Webforce and John Dave Duenas, Chief Executive Officer of local start-up HYbrain and president of the Bacolod - Negros Occidental Federation for Information and Communications Technology (BNeFIT).”
At the same time, it was reported that BNeFIT had expressed its intention to explore adopting blockchain technology after Singapore-based blockchain integrator Ethereum World showed its desire to introduce the technology in the province.
Northern Philippines aims to be next Silicon Valley
Raul Lambino, head of the Cagayan Economic Zone Authority (CEZA), last month revealed plans to transform the northern Philippines into a fintech, blockchain, and cryptocurrency hub that would rival Silicon Valley and become the FinTech City of Asia.
“We have a perfect setting for some of the young Filipino generation’s best minds and the world’s leading cryptocurrency companies to engage in the development of the next wave of technological innovations. The best of nature and cutting-edge technology will combine to bring about a new hub in Asia for the world's leaders in the burgeoning global currency of the future.”