The Philippine government has begun exploring use cases for blockchain technology, launching a training program for researchers from the government’s Department of Science and Technology (DOST).
Enrico Paringit, a DOST official reportedly said the goal of the training is to see how blockchain can play a role in areas such as healthcare, financial support, and emergency relief.. Aside from this, Paringit noted that the department is also taking a look at how blockchain can be used in passport and visa issuance, trademark registration, and in government archives.
While cryptocurrency is a prominent application for blockchain, the DOST official noted that the department’s intent is to “build non-cryptocurrency applications.” Paringit said that the goal is to produce blockchain development specialists who can support the government in various applications of the technology.
The program received funding that could cover the cost of training information technology specialists and researchers. Nevertheless, Paringit noted that the lack of local blockchain experts has posed difficulties for the department.
Fortunato dela Peña, the country’s science and technology secretary, also said that blockchain is “an important emerging technology” that the country needs to develop.
Already in April, PayMaya, a digital payment provider based in the Philippines, launched a cryptocurrency trading feature within its app.. Often used by Filipinos for online shopping or transferring money locally, the app has listed Bitcoin (BTC), Ether (ETH), and other prominent cryptocurrencies for trading with Philippine pesos.
In the same month, the company behind PayMaya, Voyager Innovations, surpassed $1 billion valuation after receiving funding to develop newly added crypto offerings to its digital payments app. The company recognizes that there are opportunities to serve the local population in the Philippines when it comes to digital finance.
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