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Coin Geek
2 hours ago
- Business
- Coin Geek
Decoded and delivered: Blockchain takes root at PBW 2025
Getting your Trinity Audio player ready... Philippine Blockchain Week 2025 brought together global leaders, regulators, founders, and digital currency enthusiasts under this year's theme—'Decoded.' The message was clear: blockchain is no longer just for the technically inclined. It's being translated into everyday use, real business value, and practical regulation. And the Philippines is at the heart of that transformation. title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen> 'We decode it for everyone,' said Donald Lim, Lead Convenor of Philippine Blockchain Week and Founding President of the Blockchain Council of the Philippines. 'We make sure that everyone understands where everyone plays and how this technology can help. We act like an interpreter—how it goes to business, how we bring it to users to make sure it's a safe and legit environment.' Lim stressed the importance of regulation in building a responsible ecosystem. 'If you want to be part of the ecosystem, you have to follow certain rules in a particular country. The rules are designed to keep people safe and informed,' he said. However, he also pointed out a challenge: 'There is a gap between regulators, government, the private sector, and also the user base.' Day 1 of @philippinebc_wk is in the books—and it did not thought-provoking panel discussions to groundbreaking use cases of emerging technology, the day was packed with insights and a clear vision for a more connected, digital future for the Philippines. Make… The country's Securities and Exchange Commission (SEC) recently addressed this gap through a new regulatory framework for Crypto Asset Service Providers (CASPs). According to Atty. Mark Gorriceta, Managing Partner at Gorriceta Africa Cauton & Saavedra, 'If you are into crypto asset service… you can now register your company or your activity in the Philippines under this new regulation. Basically, it really invites more investors to legitimize in the country within the jurisdiction of the SEC.' To register as a CASP in the Philippines, foreign companies must incorporate as a domestic corporation, have at least PHP 100 million in paid-up capital, and meet strict operational and reporting standards—ensuring that market participants are credible and accountable. This regulatory shift not only opens the door for foreign players but also empowers local institutions. 'With these new regulations, licensed players like Philippine banks and digital wallets can now offer new products—not just peso-to-crypto exchange, but even token trading like a digital stock exchange,' he adds. Mainstream platforms are already integrating these changes. Luis Buenaventura, Head of Crypto at GCash, said over three million Filipinos now use GCrypto within the GCash app. 'We're growing at a pretty steady pace because the GCash brand has built enough trust,' he said. 'Now the challenge is getting those users to think of crypto not just as speculative, but as something like long-term savings.' Investor and Web3 evangelist Evan Luthra, founder of KOL Capital, brought a global perspective. 'I've spoken at over 200 events in 50 countries. The Philippines is ground zero for GameFi and Web3 adoption,' he shared. Though this was his first visit to the country, he was impressed by the energy and talent. 'What's great about Filipinos is that they're early adopters. Even just playing a game, they end up with a crypto wallet. That's a huge opportunity.' Luthra also highlighted how blockchain is reshaping work and creativity. 'Web3 is about ownership. Nobody works for someone—everyone's a partner. That's what tokenization enables,' he said. 'As a creator with 3 million followers, I bring value, and in crypto, that's what matters. Degrees are everywhere. But value—real value—is what makes someone investable.' He was especially struck by the presence of students at the event. 'I've never seen school children at a blockchain conference before,' he said. 'Technology doesn't care about degrees. I started building apps at 12. Events like this expose kids early—and that's powerful.' That message echoed across the event, from metaverse job pipelines supported by the government to AI-driven blockchain tools like Chatoshi. Billed as 'the ChatGPT for Web3, crypto, and anything blockchain,' Chatoshi is fine-tuned to answer real-time queries about token sentiment, on-chain analytics, and transaction statuses. 'We're connected directly to blockchain tools,' said Chatoshi's Joe Pepito. 'If you want to know if a token is a scam, or check your transaction status, you can just ask Chatoshi.' The platform pulls data directly from the blockchain, including educational resources, token legitimacy checks, and even market trends. 'At the end of the day, we want to help people feel less skeptical about the space. Information empowers users to make smarter, safer decisions,' Pepito added. Also aiming to make blockchain more relatable to everyday Filipinos was actor and entrepreneur Marvin Agustin, who introduced a playful campaign called Fishblock . 'They wanted to use fishballs as a representation that blockchain could penetrate even down to the vendors,' Agustin explained. 'It's hard to understand when we just talk about the technology. But if we tie it to something familiar, maybe more people will get it.' The campaign featured digital currency-enabled payments and NFTs. Agustin, a restaurateur, also sees real value in blockchain for the food industry, stating, 'The Department of Trade and Industry (DTI) is trying to link all suppliers and stakeholders. It's a supply chain solution that can really benefit small business operators.' As the event wrapped up, Lim emphasized the broader vision: 'I want to position the Philippines as the blockchain captain of Asia—because the government is open, and the private sector is investing.' For builders, creators, and investors alike, the future is no longer abstract. It's decoded, and it's already being built. Watch | The Philippines startup boom: Highlights from Sinigang Valley Build Startup Festival
Coin Geek
12 hours ago
- Business
- Coin Geek
PH laws, gov't support drive blockchain adoption: report
Getting your Trinity Audio player ready... The Philippines is establishing itself as a developing center for blockchain innovation, a trajectory shaped by responsive regulatory actions and government support. This combined effort aims to create an enabling environment for blockchain to thrive, fostering digital transformation and economic inclusion. According to the 'Philippine Blockchain Report 2025' released by the Blockchain Council of the Philippines (BCP), the country continues with its aspiration to become a regional leader of the technology. The report provides a data-driven overview of the nation's blockchain landscape. Members of the Blockchain Council of the Philippines during the launch of the Philippine Blockchain Report 2025 at the SMX Convention Center in Pasay City, Philippines. Establishing regulatory foundations According to the report, Philippine regulators have established initial frameworks to guide blockchain adoption. These frameworks strike a balance between innovation, consumer protection, and market integrity. The Bangko Sentral ng Pilipinas (BSP), the nation's central bank, plays a central role in regulating virtual assets. In 2017, BSP Circular No. 944 recognized digital currencies as a valid payment method. This was followed by Circular No. 1108 in 2021, which governs Virtual Asset Service Providers (VASPs), emphasizing anti-money laundering (AML) and information technology (IT) security requirements. A three-year moratorium on new Non-Bank VASP applications was put in place starting in September 2022 and is expected to continue until September 2025. The BSP also established its Regulatory Sandbox Framework (Circular No. 1153) for emerging technologies, including Distributed Ledger Technology (DLT). An example includes receiving BSP approval to pilot its Philippine Peso-backed stablecoin (PHPC) within this sandbox, which is now in its exit stage. The BSP is also actively pursuing central bank digital currency (CBDC) initiatives, such as Project CBDCPh, a wholesale CBDC pilot to test interbank transactions, and Project Agila, which completed its testing phase in December 2024. A medium-term roadmap for wholesale CBDC development is anticipated for 2025, with the goal of enhancing payment systems and financial stability. The report also stated that the Securities and Exchange Commission (SEC) recognizes blockchain's capacity to streamline financial services, enhance digital payments, strengthen regulatory compliance, and drive financial inclusion. The SEC established the PhiliFinTech Innovation Office and launched the SEC StratBox, a thematic sandbox framework for Crypto-Asset Service Providers (CASPs), to support innovation in a controlled environment while managing risks. The SEC has also drafted and published comprehensive Rules on Crypto-Asset Service Providers (CASP) and CASP Guidelines, designed to provide legal clarity for crypto-asset activities, promote responsible market practices, and align with international standards. The SEC expects to launch a derivatives market in the Philippines that may accommodate crypto derivatives. Moreover, the report said that the Special Economic Zones contribute to attracting blockchain businesses. The Cagayan Economic Zone Authority (CEZA) introduced rules, including the Financial Technology Solutions and Offshore Virtual Currency Business Rules and Regulations (FTSOVCBRR) and the Digital Asset Token Offering (DATO) Rules, which were updated and integrated in 2024 with the Offshore Financial Technology (OFT) Licensing Rules and Regulations (OFTLRR). These frameworks support offshore crypto-exchange activities and token offerings, with CEZA's 'Crypto Valley of Asia' attracting blockchain businesses. The Authority of the Freeport Area of Bataan (AFAB) offers the Offshore Digital Asset Licence (ODAL), allowing blockchain-based businesses to operate within a regulated framework, and has a direct legislative mandate to cultivate emerging industries. Regarding consumer protection, the Financial Products and Services Consumer Protection Act (FCPA) and the Anti-Financial Account Scamming Act (AFASA) extend their coverage to blockchain-based financial products and accounts, imposing consumer protection standards and responsibilities on service providers. Government initiatives and projects Beyond direct regulation, government agencies are actively integrating blockchain into public services, demonstrating practical applications and commitment to the technology. The Department of Information and Communications Technology (DICT) is committed to adopting emerging technologies, such as blockchain, for sustainable and inclusive economic growth. It launched eGOVchain, a blockchain-based government project aimed at improving transparency, security, and efficiency in public services, and plans to implement eGovEncrypt to secure critical government data. The Department of Budget and Management (DBM) launched Project Marissa, a blockchain-based initiative aimed at enhancing the security of budget-related documents, utilizing BayaniChain's hybrid blockchain technology. It also utilizes Prismo to add security to critical budget documents, such as Special Allotment Release Orders (SAROs). The Bureau of the Treasury (BTr), in partnership with PDAX, issued the nation's first tokenized treasury bonds in 2023, demonstrating the government's commitment to using blockchain for transparent and efficient public finance. The BTr is also testing the 'GBonds' feature with GCash to broaden Filipino investors' access to government investments. The Maritime Industry Authority (MARINA) has introduced the Blockchain-Enabled System for Transactions (BEST) to enhance maritime services by enabling the real-time processing of applications and online payments and ensuring document authenticity, thereby reducing fraud and improving transparency. Digital transformation is a national goal that calls for collaboration among the government, private organizations such as the Gobi-Core Philippine Fund, Gorriceta Africa Cauton & Saavedra, and the BCP, as well as academic institutions. Events like the Philippine Blockchain Week have become international gatherings, attracting global experts, investors, and innovators. Impact on adoption and growth Source: Philippine Blockchain Report 2025 These concerted regulatory and governmental efforts have affected the adoption and growth of blockchain in the Philippines. Trust and confidence building: Clear regulations and robust consumer protection measures are crucial in fostering public trust and confidence in blockchain technology. While a large portion of Filipinos (70%) remain unfamiliar with blockchain, a high proportion (74%) expressed confidence in its security, partly due to the accessibility and perceived reliability of centralized exchanges like and PDAX. The pandemic played a role in shifting perception, with more people recognizing blockchain's security, accessibility, and practical applications. Financial inclusion and remittances: Blockchain initiatives, particularly from the BSP (e.g., Project i2i and CBDCs, are designed to enhance payment systems and expand financial access, especially for the large unbanked population and overseas Filipino workers (OFWs), who rely heavily on remittances. Blockchain provides a more cost-effective and efficient means of sending money compared to traditional systems. Diversification of use cases: While digital currency (especially for trading, payments, and gaming) remains the most recognized application, government projects and regulatory foundations are encouraging the expansion of blockchain use cases beyond digital assets and non-fungible tokens (NFTs). The rise of Play-to-Earn (P2E) gaming, with many Filipinos becoming 'Metaverse Filipino Workers' (MFWs), has served as an entry point into Web3 for the population, especially during the lockdown. Challenges and outlook Despite progress, the report said challenges persist, including a knowledge gap among the public, limitations in digital infrastructure, and funding constraints for early-stage blockchain ventures. Eighty-five percent of respondents have no direct connection to blockchain in daily life, and 70% are unfamiliar with the technology altogether. This indicates that awareness and understanding remain hurdles to broader adoption. The report said that the Philippines' regulatory landscape is expected to continue evolving towards a more precise delineation between regulatory bodies, such as the BSP and SEC, a more granular licensing regime, and stricter compliance and oversight as blockchain adoption expands. Continued investment in education and government coordination is crucial for fostering trust, driving innovation, and promoting responsible blockchain use to support long-term growth. The report added that the government may explore and implement blockchain technology across various sectors, leveraging regulatory sandboxes to assess viability and impact. By fostering collaboration and leveraging its tech-savvy population, the Philippines aims to solidify its position as a player in the global blockchain ecosystem, unlocking its full potential for national progress. Watch: The Philippines is moving toward blockchain-enabled tech title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen="">
Coin Geek
17-06-2025
- Business
- Coin Geek
PH Blockchain Week 2025: Communities meet tech of the future
Getting your Trinity Audio player ready... More on utility, less on technicalities—this was what the Philippine Blockchain Week (PBW) ensured when it returned on stage this week at the SMX Convention Center in Pasay City, where it drew thousands of attendees from different parts of the globe. Steering away from tech buzzwords, PBW 2025 focused on building a community that values and emphasizes developing real-world solutions instead of merely riding the wave of popularity without an actual goal. Day 1 of PBW 2025, which took place on June 10, marked a significant moment for the Philippines as the Blockchain Council of the Philippines (BCP), led by Dr. Donald Lim, introduced the official report on the country's digitalization status—a statistical analysis representing the PBW's perseverance in putting the Philippines on the blockchain map. Founding members of the Blockchain Council of the Philippines, together with members of the Gorriceta Africa Cauton & Saavedra, Gobi-Core Philippine Fund, and Tether, presenting the first-ever Philippine Blockchain Report 2025. The Philippine Blockchain Report 2025 Unbeknownst to many, the Philippines has been leveraging blockchain technology since 2014, primarily within the realm of financial services, with a particular focus on remittances. Although global governmental involvement in establishing regulations for the blockchain sector has only recently become more pronounced, the Philippines has diligently laid the regulatory groundwork for this ecosystem since early 2017. Carlo Chen-Delantar giving attendees an overview of the Philippine Blockchain Report 2025. Presented by Carlo Chen-Delantar, Co-Founder and Partner of Gobi Partners, the report—an initiative launched by Gorriceta Africa Cauton & Saavedra, BCP, Gobi-Core Philippine Fund, and Tether—underscored the significant role of startups in shaping the blockchain landscape in the Philippines. These startups— Satoshi Citadel Industries (SCI), and BloomSolutions, to name a few—have been at the forefront of utilizing blockchain technology to facilitate financial inclusion. Their efforts bore fruit as more established companies, such as Union Bank of the Philippines and the Philippine Digital Asset Exchange (PDAX), began integrating blockchain into their services and operations. The financial sector served as the initial gateway for blockchain technology to gain a foothold in the Philippine market. This emergence was followed by a significant rise in blockchain gaming in 2020, predominantly driven by organizations such as Yield Guild Games (YGG) and Sovrun. Subsequently, the application of blockchain technology expanded beyond the gaming sector to encompass a variety of use cases, including the development of digital identities, enterprise solutions, and transportation systems. These developments helped establish blockchain's role as more than just an avenue for digital currencies. A snapshot of industry players in the Philippines that have integrated blockchain technology into their operations and services. 'Blockchain isn't just about digital assets or decentralized finance; it's about rebuilding trust in systems—something many of our institutions critically need,' said Congresswoman Hon. Richelle Singson. From digital coin users of play-to-earn (P2E) games, Filipinos have made significant progress by leveraging blockchain technology to modernize operations and services while addressing long-standing issues. While the Philippines is rapidly recognizing the power of blockchain in carving its digital path, the progress the country has made in recent years can be attributed not only to technological advancements but also to the proactive community that embraced the risks associated with blockchain and believed in its capacity to revolutionize various industries. The Philippines has made significant strides since the introduction of blockchain, but much remains to be done to fully harness its potential. 'Whether you're a builder, a policymaker, a regulator, or just exploring the space, this is not just a tech event; this is a movement. Let's use this week to not just connect…but to create a blockchain-powered future that serves our people,' Singson noted during the opening of PBW 2025. Read the full Philippine Blockchain Report 2025 here. Onboarding early adopters Technology can be intimidating to people with no technical background, and this is the greatest challenge that blockchain must overcome to become mainstream. The pandemic in late 2019 may have taken a toll on the global healthcare ecosystem, but this catastrophe had a silver lining—it sparked the adoption of mobile payments and digital wallets, prompting not just the Philippines but much of the world to fast-track their digital transformation. During the pandemic, 'cryptocurrencies' have emerged as a prominent topic of discussion; however, their appeal appears largely confined to P2E gamers, traders, and certain financial institutions. The broader population, in contrast, tends to perceive these digital currencies as lacking tangible utility in their everyday lives. A PBW 2025 panel moderated by Ida Mok, president of Women in Blockchain Alliance, examines how wallets are the true entryway for blockchain to become mainstream, not 'cryptocurrencies.' Ida Mok moderating a panel about the rising use of digital wallets and their importance in onboarding users. Airdrops, tokens given away for free, have long been viewed as the best solution to getting people into the emerging technology ecosystem. But while the thought of having a free bitcoin in one's wallet is enticing, many holders do not know how to use it other than to HODL and sell when the price skyrockets, which veers off from Bitcoin's original intention. 'Airdrops is not a really good way to get early adopters in. If we want to make it easy for people to get in…we need [to come] from a point of discovery,' said Jason Dominique, CEO of Onchain. A true embodiment of utility, digital wallets nowadays are more than just a platform for storing and trading digital currencies. They have evolved into social wallets, which allow users to focus on using the app rather than worrying about its technical aspects, gas fees, and other features, transforming it into an 'everyday product.' This evolution, however, is only starting, and with the rise of artificial intelligence (AI), digital wallets are set to transform with more utility. 'The time is now for people to actually see wallets not as crypto wallets but like a social identity,' said Biptap CEO Jonathan Low, who believes that in the future, businesses can utilize these social wallets to create trends that could reshape the financial industry and the 'crypto' market. Getting lost in buzzwords With so many technological advancements happening globally, it's easy to lose our sense of legacy, but PBW regular Ian Utile returned to the stage to help attendees remember what is truly at the heart of innovation—decentralized and tokenized communities. Ian Utile giving a keynote on the importance of communities and the integration of AI. In this digital era, communities are classified based on the products and services they use, with Utile giving Meme and non-fungible token (NFT) communities as primary examples of these exclusive groups—circles that are now coexisting with AI, a tool being projected as the key driver of the future of technology. AI is revolutionizing various industries, not by displacing the human workforce but by being seamlessly integrated into existing systems. In the Philippines, Utile said AI is being deployed at breakneck speed in different sectors, opening more opportunities for Filipinos. However, none of the emerging communities should be viewed as superior to others, as Utile indicates that each possesses a distinct function within the ecosystem. While AI appears to be the most potent of these communities, it should be regarded not as a threat but rather as a valuable tool designed to enhance the effectiveness of the existing communities. 'Don't be hung up on the word tokenized; that's the future. Don't be hung up on NFTs; that just means an exclusive, limited community, or memes that just means an inclusive, unlimited community. Think about how AI plays into all of these,' he said. 'Let's not get so technical that we get away from humanity,' Utile noted. 'If you spin yourself on tech talk, then you lose what actually matters, and what really matters is our purpose.' Discourse continues True to its goal, the opening day of PBW 2025 covered the expanding use cases of blockchain technology, from empowering micro, small, and medium enterprises (MSMEs) to abolishing the notion that technology is only for men, to give participants a better picture of the state of the digital revolution in the country and what's to come. Actor and restaurateur Marvin Agustin representing MSMEs during a panel discussion on blockchain with government officials. Actor and chef Marvin Agustin, with support from the Department of Information and Communications Technology (DICT), led the promotion of blockchain in the food industry through 'Fishblock,' an innovative take on Filipinos' beloved street food, fishballs. This venture only accepts 'crypto' as payments and comes with an exclusive NFT. Women in Blockchain of the Philippines Founder Gail Macapagal also graced the event with a panel discussion on women empowerment in the tech space, joining Azintafy Founder Aya De Quiroz, entrepreneur Chantel Elloway, Women in Blockchain Asia's Ida Mok, CEO Laura Inamedinova, and AIBC Managing Director Olga Yaroshevsky, where they recounted their experiences within the male-dominated industry and discussed the contributions that women make to foster innovation. Gail Macapagal posing with notable women in the tech space following a panel discussion on women empowerment in a male-dominated industry. Coach Miranda Miner of Global Miranda Miner Group also gave the audience a quick lesson on 'crypto' trends, pump-and-dump, and the factors that drive the price of tokens. Aya De Quiroz moderating a panel on memecoins and the world's growing fascination with these tokens. There was also a clashing discussion on memecoins moderated by De Quiroz, which saw Trust Wallet's Rik Krieger arguing that there is nothing wrong with delving into these 'shitcoins,' but not when you're in the office, a jab to the Trump administration, whose made headlines in recent weeks following the launch of $TRUMP and $MELANIA tokens. While Krieger expressed deep opposition to memecoins, others like Political Pump Co-Founder Ph.D Jose Manuel Torres and Coinvesting Holding Chief of Staff, also known as the 'Shitcoin Queen,' Karen Kriska see them as a fun way to get into the space. However, they were quick to remind users to be extremely cautious, with Torress saying memecoins are the best example for a DYOR, or do your own research. Beyond the hype, PBW 2025 also gave us an overview of the current state of regulations in the blockchain space and the fintech ecosystem. Watch: The Philippines is moving toward blockchain-enabled tech title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen="">
