The Blockchain Council of the Philippines (BCP) has announced a strategic partnership with the Department of Information and Communications Technology (DICT). The collaboration aims to drive Web3 adoption in the country and establish the Philippines as a global leader in blockchain technology.
Through educational initiatives and collaboration with various stakeholders, including government bodies, Web3 developers, civil society organizations, and businesses, the BCP is committed to creating an ecosystem conducive to blockchain innovation. The BCP, a nonprofit organization dedicated to improving the regulatory framework for blockchain, has a clear vision to propel blockchain adoption in the Philippines.
The partnership with the DICT, responsible for developing and promoting the country’s information and communications technology agenda, further solidifies the Philippines’ commitment to blockchain technology. DICT Director Emmy Lou Versoza-Delfin highlighted the nation’s familiarity with blockchain, citing the success of innovative blockchain startups and the implementation of blockchain-based solutions for public good.
We have seen the rise of innovative blockchain in startups, the success of blockchain-based business solutions and the birth of the initiative that makes blockchain for public good
Emmy Lou Versoza-Delfin, Director, DICT.
Donald Lim, the founding president of the BCP, emphasized the organization’s primary goal of advancing blockchain technology in the Philippines. Emmy Lou Versoza-Delfin further acknowledged the nation’s familiarity with blockchain technology. She highlighted the rise of innovative blockchain startups, successful blockchain-based business solutions, and initiatives focused on leveraging blockchain for public good.
Furthermore, the Philippines has already displayed its prowess in the world of metaverse and Web3 gaming. According to a recent study by Coin Kickoff, the country recorded the highest number of relevant Google searches per 1,000 individuals. Despite the challenges faced during the P2E game craze, the Philippines remains home to the largest population of gamers globally, with a staggering 95.8% of Filipino internet users aged 16 to 64 engaged in video games. The country was also ranked third for Web3 gaming interest by CoinGecko for the third consecutive year.
The potential implications of this partnership between the BCP and the DICT are far-reaching. As blockchain technology continues to revolutionize industries and metaverse gaming gains traction, the Philippines is well-positioned to leverage its expertise and lead the way in Web3 adoption. The Asian market, with its dominant share in the global gaming landscape, offers immense opportunities for blockchain integration, and the Philippines is poised to play a crucial role in driving this transformative change.
As the Philippines solidifies its position as a key player in the blockchain industry, the collaboration between the BCP and the DICT paves the way for regulatory advancements, innovative solutions, and enhanced productivity across various sectors. The combined efforts of the government, industry players, and the blockchain community are expected to shape the future of Web3 adoption in the Philippines and beyond.