Southern Philippines First Region to be Crypto-Powered
A lawmaker in southern Philippines expressed confidence introducing cryptocurrency and blockchain in the region will transform the often neglected island of Mindanao into a major tourism and technology hub.
The southern region of Mindanao in the Philippines, often seen as neglected by the Manila-centric national policy, will be the first area in the country to be powered by crypto and blockchain technology.
A beaming Congressman Seth Frederick “Bullet” Jalosjos, of the first district of Zamboanga del Norte, said Mindanao is the perfect platform for such technological innovation.
“We are very hungry and very thirsty for something like this to come out of the most neglected islands of the Philippines. This will be a game changer in our country,” Jalosjos said in a statement sent to Cryptovest.
He also expressed excitement for the eventual boost for Mindanao tourism as the region welcomes tokenized payments.
Under an agreement with Noah Foundation, a blockchain-enabled charity foundation, local government units of northwestern Mindanao launched the Organic Osmena 2020 which aims to transform all agriculture in the region into organic production by 2020.
What makes the program unique compared to similar organic agriculture programs is that it is the first to connect the country’s agriculture sector to the growing fintech sector. An app will directly connect organic farmers to retail and service businesses as well as to consumers.
The infrastructure for farmers, related to production control, distribution control, and sales management, will be developed through the blockchain technology of Noahcoin.
Jalosjos added Noahcoin would soon be used in a number of projects the foundation is developing in the Philippines, notably mixed-use resort development on the underdeveloped portion of the Dakak Beach Resort in Zamboanga del Norte. Soon, other parts of the country will be crypto-powered, the congressman added.
The lawmaker, a staunch advocate for the promotion of Mindanao as a tourism and investment haven, welcomed the development of blockchain technology in the region.
“This will not only heighten the interest in the Philippines being at the cusp of blockchain technology and cryptocurrency but more importantly for us, this will boost interest in Mindanao. We are like a sponge now in Mindanao and we are willing to absorb any talk, any projects for the progress of the region,” he added.
The Philippines is one of the Asian countries which are receptive to blockchain and cryptocurrencies. On Friday the Bangko Sentral ng Pilipinas (BSP), the country’s central bank, announced the creation of a blockchain and fintech (financial technology) unit as part of its National Retail Payment System (NRPS).
