All roads in the blockchain space converged in the Philippines on Sunday for the inaugural Global Blockchain Summit, which highlights the best of what blockchain can offer.
The one-day event was co-hosted by Global Blockchain Application Research Foundation Inc., and GOBA Foundation organized by Leilook. It was attended by some of the top officials from the Philippines and other countries, as well as a huge delegation of internationally acknowledged experts and scholars, including hundreds of industry leaders.
“This event puts the Philippines on the blockchain map,” Cagayan Economic Zone Authority (CEZA) head Atty. Raul Lambino said in an interview.
Dylan She of the Global Blockchain Application Research Foundation said it is not only their responsibility but an obligation to host the first Global Blockchain summit in the Philippines.
She was quoted as saying during the press launch of the event last month:
“The Philippines has a relatively supportive and encouraging policy for emerging technology industries such as blockchains. Through the summit, we hope to gather entrepreneurs and investors of high-quality Blockchains projects here, as well as enhance the competitiveness of Philippines in blockchain technologies globally, especially in the financial field.”
The event was populated with hundreds of booths showcasing blockchain projects from different countries. However, it was notable that the largest contingents were from Hong Kong, Taiwan, and mainland China, thus underscoring the growing influence of Chinese investors in the blockchain space.
One of the exhibitors, Beijing-based ImTube, wants to challenge the dominance of YouTube and Instagram platforms in the video-sharing industry.
Edan Lou, CEO of ImTube told Cryptovest:
"They have YouTube, but we have ImTube. The only difference is, in ImTube, there is no centralized authority, there is no platform. We encourage peer-to-peer transaction because we are on the blockchain.”
Leilook founder Duan Yu said that the event would combine exhibition and forum to allow participants to gain industry development policy, analysis, interpretation, and more importantly, insights from industry experts.
“We hope that attendees will be able to experience the boundless Blockchain development from multiple dimensions.”
The Philippines is emerging as an important blockchain market with its more “relaxed” regulation compared to other countries. In January, Manila hosted the first Blockchain & Bitcoin Conference, a series of conferences that were also held in 13 other countries.