The 2023 Philippine Blockchain Week, where the award will be given, is an event supported by the Department of Information and Communications Technology (DICT).

An influential figure in the local blockchain industry who is chairman, CEO, and president of six blockchain companies has been honored during the Block Awards 2023. His name? Jay Ricky Villarante—an accomplished businessman who holds the following key positions:

• Chairman and President of 8ventures Pte. Ltd
• Chairman and President of 8Ventures Philippines Corporation
• Chairman and President of Paylance Pte. Ltd.
• Chairman and CEO of BSP-Licensed VASP company, Moneybees Forex Corporation,
• Chairman and Director of OrbitPH, Inc.
• Chairman and President of Secuna Softwares Technologies, Inc.

The award is meant to celebrate the outstanding contributions as well as pioneering efforts of individuals who have shaped and influenced the local blockchain landscape. Moreover, the Blockchain Awards 2023 is set to be the official award-giving body of the 2023 Philippine Blockchain Week. 

Jay Ricky Villarante Comments on the Recognition

Villarante, who is also known as a serial investor and author of Blockchain: A Catalyst for Good Governance in the Philippines, has given his thoughts on receiving the prestigious award.

“I am deeply honored to receive this award and be recognized among the exceptional innovators and visionaries in the blockchain industry,” he says. “It is a testament to the hard work and dedication of our teams at 8ventures, Paylance, Moneybees, OrbitPH, and Secuna.”

“This award motivates us to continue pushing the boundaries of blockchain technology, fostering growth, and making a positive impact in the industry and society at large,” he adds. 

Blockchain and Cryptocurrency in the Philippines

Blockchain, which is defined by Investopedia as “a distributed database or ledger shared among a computer network’s nodes,” is a growing industry not just here in the Philippines—but also in the whole world. In fact, the technology is best known for enabling the existence of cryptocurrency. 

Here in the Philippines, there is increasing optimism about cryptocurrency, according to a report. In fact, a study by Finder shows that the Philippines actually ranks fifth worldwide when it comes to ownership. According to the study, 28% of adults say that they own cryptocurrency. 

Given their popularity, blockchain and cryptocurrency can be viewed as lucrative business opportunities for entrepreneurs. However, the technology is relatively new and very technical in nature. 

As with any business venture, thorough research and analysis are needed before any entrepreneur goes into a blockchain or cryptocurrency business.