Discussions about the use of blockchain will further be normalized as the Philippine Blockchain Week 2023 gets full support from two government departments.

According to CoinGeek, the Philippines has the numbers to become Asia’s blockchain capital, given its fast adoption rates on non-fungible tokens (NFTs), decentralized finance (DeFi), and cryptocurrencies. In fact, around 6.13% of the total population, or nearly 7 million Filipinos, own cryptocurrency, and 32% of Filipino internet users say that they own non-fungible tokens (NFTs). 

Meanwhile, a separate study from the Organization for Economic Cooperation and Development (OECD) showed that around 74% of Filipinos are aware of cryptocurrency, but 83% of the population lack understanding about what it is.

To further educate Filipinos about blockchain and what it really is about, the Blockchain Council of the Philippines (BCP) hosts its annual event: the Philippine Blockchain Week. This is very much timely, given that many Filipinos are wary about how this technology can be used in the country and its legalities.

With the full support of both the Department of Information and Communications and Technology (DICT) and the Department of Trade and Industry (DTI), the event was graced by key personnel of the BCP, along with DICT Director Emmy Lou Delfin and DTI Director Jo-Dann Darong, who were invited to speak at the press conference.

What to Expect From the Philippine Blockchain Week

This year’s Philippine Blockchain Week theme will be called “BRKOUT,” as it aims to encourage everyone to break out of conventions and comfort zones, break out of old habits to embrace new opportunities and break out of the pack to become leaders in the blockchain space.

The Philippine Blockchain Week—which will be held from September 19 to 21, 2023, at the Marriott Grand Ballroom, Newport World Resorts, Manila, Philippines—is expected to draw in thousands of attendees from various industries and countries. What’s more, the event will bring together some of the most influential leaders in the blockchain and crypto industry. 

In this 3-day long event, attendees will get to hear discussions about blockchain, fintech, the metaverse, regulation, Artificial Intelligence (AI), privacy, and DeFi, as well as other relevant topics. They will also be able to engage in activities prepared ahead for them.

How the Government Shows Their Support

Director Delfin of DICT proudly shared that they will be spearheading Blockchain 101, which will teach students in NCR about the opportunities that come with the blockchain industry. In line with that, the agency will also be conducting focus group discussions among government officials, so that they can start integrating the use of blockchain in storing government data. 

Meanwhile, DTI Director Darong shared their support for the idea of how blockchain can be used in their industry. “At DTI, we promise to support all initiatives that will gear towards the attainment of the vision of making the Philippines not just innovative and creative, but more competitive through blockchain,” he says.

He further elaborated how he believes that this year’s celebration works as the perfect venue for cultivating creativity and innovation, especially since it will coincide with the inaugural celebration of the Philippine Creative Industry Month in September.

As per BCP Founding President and Philippine Blockchain Week lead Convenor Dr. Donald Lim, “Government intervention and support have always been critical for the adoption of blockchain technology in any country. For the Philippines, our government’s broad-minded stance will be instrumental in positioning us to becoming the blockchain capital of Asia.”

What Attendees Can Expect From the Event 

Aside from educational talks that will enhance the Filipino’s knowledge of blockchain, the organizers also shared how this year’s celebration will partner with Korea and Japan’s respective blockchain associations.

What’s more, it can be noted that among their partners is world-class Dubai-based Filipino fashion designer Michael Cinco who will debut in the blockchain space. By having him on board, the organizers best believe that his cooperation will further excite people from various industries, especially those who have yet to tap into the potential of blockchain. 

The event will also be supported by the business reality show The Final Pitch. Another collaborator is Tier One Entertainment which will bring in some gamers, streamers, and cosplayers who will participate in gaming exhibitions. 

Like last year’s Philippine Blockchain Week, the upcoming celebration will also host the live global announcement of finalists of the prestigious global Web 3 awards show—the NFTY Awards—which will honor the most outstanding non-fungible tokens. 

How This Event Will Help Filipinos

For those who haven’t delved much into the world of NFTs, these digital assets pertain to unique cryptographic tokens stored in the blockchain. These come in various forms, such as images, artworks, music, in-game items, or other possible digital assets. 

Through events like these, attendees can learn about the possible uses of blockchain in different industries—not just for cryptocurrency uses. It is also through these types of events that businesses can find ways how to integrate blockchain as part of their digitization measures. 

More so, being adaptive to special technologies such as this will help lead the country towards globalization, as other countries have more open to adapting blockchain technology in their daily operations and transactions.