{"id":37273,"date":"2022-12-06T07:33:26","date_gmt":"2022-12-06T07:33:26","guid":{"rendered":"http:\/\/egrowonline.com\/?p=37273"},"modified":"2022-12-06T07:33:26","modified_gmt":"2022-12-06T07:33:26","slug":"global-blockchain-summit-the-philippines-is-always-a-leader-in-tech-adoption","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=37273","title":{"rendered":"Global Blockchain Summit: The Philippines is always a leader in tech adoption"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<div class=\"jeg_video_container jeg_video_content\"><iframe loading=\"lazy\" title=\"Open For Business | GLOBAL BLOCKCHAIN SUMMIT 2022 | NOVEMBER 27, 2022\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/9YGMc3Jcbtc?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n<p> width=&#8221;562&#8243; height=&#8221;315&#8243; frameborder=&#8221;0&#8243; allowfullscreen=&#8221;allowfullscreen&#8221;&gt;<\/p>\n<p>The inaugural\u00a0<a target=\"_blank\" rel=\"noopener\" href=\"https:\/\/bsvblockchain.org\/news\/bsv-blockchain-association-to-attend-global-blockchain-summit-in-the-philippines\/\" data-wpel-link=\"external\">Global Blockchain Summit<\/a>\u00a0in Bataan was a big success, drawing thousands of attendees and some key regulators, thought leaders, and innovators in the tech, finance, and blockchain industries. The Bitcoin SV (BSV) ecosystem was well represented by Brendan Lee, Gareth Roberts, Stefan Matthews, Nicholas King and others, and they all had one message\u2013BSV can transform the Philippines.<\/p>\n<p><a target=\"_blank\" rel=\"noopener\" href=\"https:\/\/coingeek.com\/brendan-lee-how-to-use-a-digital-signature-to-show-control-of-a-bitcoin-address-video\/\" data-wpel-link=\"internal\">Brendan Lee<\/a>, the founder of Elas Digital, took to the stage on the second day of the event to deliver a keynote presentation on creating\u00a0<a target=\"_blank\" rel=\"noopener\" href=\"https:\/\/coingeek.com\/bitcoin101\/private-vs-public-vs-permissioned-blockchain-a-comparative-guide\/\" data-wpel-link=\"internal\">private, permissioned ledgers on the public blockchain<\/a>.<\/p>\n<p>In an interview on the sidelines of the event, Lee cautioned Filipinos against being scammed to invest in digital assets whose sole purpose is speculation.<\/p>\n<p>\u201cOne of the key differences with Bitcoin SV is that we don\u2019t tell people to buy our tokens. When we build projects, we provide the tokens needed as part of the service delivery model. I believe that cryptocurrency is a predatory investment marketplace that\u2019s designed to take people\u2019s money and funnel it into the pockets of people who bought crypto early,\u201d he told local TV network Net25.<\/p>\n<p>Filipinos should focus on blockchain utility instead, he stated. Blockchain can be integrated into any system to make it \u201cfaster, much more efficient, and much more transparent.\u201d<\/p>\n<p>Lee further debunked the myths around\u00a0<a target=\"_blank\" rel=\"noopener\" href=\"https:\/\/coingeek.com\/bitcoin-class-with-satoshi-proof-of-work-vs-proof-of-stake\/\" data-wpel-link=\"internal\">proof of work<\/a>, a consensus mechanism whose (mis)use by BTC has made it the target of environmentalists and regulators. When implemented correctly, \u201cPoW is a very efficient system that doesn\u2019t consume that much energy at all,\u201d he noted.<\/p>\n<p><strong>Digital peso on BSV?<\/strong><\/p>\n<p><a target=\"_blank\" rel=\"noopener\" href=\"https:\/\/nchain.com\/\" data-wpel-link=\"external\">nChain<\/a>\u00a0has continued working with several central banks to explore\u00a0<a target=\"_blank\" rel=\"noopener\" href=\"https:\/\/coingeek.com\/bitcoin101\/everything-you-need-to-know-about-cbdc-central-bank-digital-currency\/\" data-wpel-link=\"internal\">central bank digital currency<\/a>\u00a0(CBDC) deployment on the Bitcoin blockchain. nChain\u2019s Product Manager Gareth Roberts was at the Summit to deliver a keynote address on the blockchain\u2019s role in the world of CBDCs.<\/p>\n<p>Also speaking to Net25, Roberts revealed that nChain\u00a0<a target=\"_blank\" rel=\"noopener\" href=\"https:\/\/coingeek.com\/nchain-cbdc-playbook-everything-you-need-to-know-about-central-bank-digital-currencies\/\" data-wpel-link=\"internal\">has built a solution<\/a>\u00a0that allows individual systems to have custody of their own tokens. While users can choose to transfer these tokens to their bank accounts, they must first have the ability to hold them in their wallets. This eliminates one of the key points of failure in CBDC designs\u2013the need for a bank account.<\/p>\n<p>nChain is also working on enabling zero-fee transactions for CBDCs, especially for smaller transactions. These, according to Roberts, would be covered in the central banking system.<\/p>\n<p>\u201cOur belief is that blockchain is the best distributed ledger technology. Blockchain has not been hacked in the true implementation it was conceived of in the whitepaper. We see blockchain as enabling CBDCs, as foundational to CBDCs. We see CBDCs being built on the most secure DLT\u2013blockchain and Bitcoin,\u201d he told the outlet.<\/p>\n<p>Stefan Matthews was at the event as well, and as the Bitcoin veteran revealed, the Philippines is the\u00a0<a target=\"_blank\" rel=\"noopener\" href=\"https:\/\/coingeek.com\/philippines-has-the-most-to-gain-from-blockchain-adoption-stefan-matthews-on-coingeek-backstage-video\/\" data-wpel-link=\"internal\">ideal country for blockchain adoption<\/a>. Matthews, who is the nChain and TAAL Chairman, has resided in the Philippines for over a decade now and has seen the country\u2019s blockchain industry develop into the global leader it is today.<\/p>\n<p>\u201cFor this country, with the number of overseas workers that we have, and the number of unbanked that we have, the application of blockchain for financial services is enormous. The application of blockchain for governance is enormous too. These are the two areas that I\u2019ll be focusing my attention on,\u201d Matthews stated.<\/p>\n<p>For Nicholas King, the\u00a0<a target=\"_blank\" rel=\"noopener\" href=\"https:\/\/coingeek.com\/nchain-nicholas-king-sees-fantastic-opportunity-to-drive-bsv-adoption-in-the-philippines-video\/\" data-wpel-link=\"internal\">nChain country manager for the Philippines<\/a>, the Southeast Asian country\u2019s large population, which is quite young, is its biggest asset.<\/p>\n<p>\u201cThey are first to adopt any new technology. You look back on the cell phones, they were adopted here quickly. Cryptocurrencies have been adopted here quite quickly as well, and as the blockchain technology continues to emerge, I\u2019m sure it will be very widely embraced in this country as well.\u201d<\/p>\n<p>To learn more about\u00a0<a target=\"_blank\" rel=\"noopener\" href=\"https:\/\/coingeek.com\/news\/tag\/central-bank-digital-currency\/\" data-wpel-link=\"internal\">central bank digital currencies<\/a>\u00a0and some of the design decisions that need to be considered when creating and launching it, you are going to want to read\u00a0<a target=\"_blank\" rel=\"noopener\" href=\"https:\/\/info.nchain.com\/cbdc-conference-playbook\" data-wpel-link=\"external\">nChains CBDC playbook<\/a>.<\/p>\n<p>Watch: nChain\u2019s Nicholas King on CoinGeek Backstage: Blockchain tech will drive Philippines digital economy<\/p>\n<div class=\"jeg_video_container jeg_video_content\"><iframe loading=\"lazy\" title=\"nChain\u2019s Nicholas King: Blockchain tech will drive Philippines digital economy | CG Backstage\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/i_mJ7i5dpYc?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n<p> width=&#8221;562&#8243; height=&#8221;315&#8243; frameborder=&#8221;0&#8243; allowfullscreen=&#8221;allowfullscreen&#8221;&gt;<span data-mce-type=\"bookmark\" style=\"width: 0px;overflow: hidden;line-height: 0\" class=\"mce_SELRES_start\">\ufeff<\/span><\/p>\n<p><b><i>New to Bitcoin? Check out CoinGeek\u2019s\u00a0<\/i><\/b><a target=\"_blank\" href=\"https:\/\/coingeek.com\/bitcoin101\/\" rel=\"noopener\" data-wpel-link=\"internal\"><b><i>Bitcoin for Beginners<\/i><\/b><\/a><b><i>\u00a0section, the ultimate resource guide to learn more about Bitcoin\u2014as originally envisioned by Satoshi Nakamoto\u2014and blockchain.<\/i><\/b><\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/news.google.com\/__i\/rss\/rd\/articles\/CBMiYmh0dHBzOi8vY29pbmdlZWsuY29tL2dsb2JhbC1ibG9ja2NoYWluLXN1bW1pdC10aGUtcGhpbGlwcGluZXMtaXMtYWx3YXlzLWEtbGVhZGVyLWluLXRlY2gtYWRvcHRpb24v0gEA?oc=5\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>width=&#8221;562&#8243; height=&#8221;315&#8243; frameborder=&#8221;0&#8243; allowfullscreen=&#8221;allowfullscreen&#8221;&gt; The inaugural\u00a0Global Blockchain Summit\u00a0in Bataan was a big success, drawing thousands of attendees and some key regulators, thought leaders, and innovators in the tech, finance, and blockchain industries. The Bitcoin SV (BSV) ecosystem was well represented by Brendan Lee, Gareth Roberts, Stefan Matthews, Nicholas King and others, and they all had [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":37274,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[38],"tags":[1157,73,270,2722,3911,2017,474],"class_list":["post-37273","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-adoption","tag-blockchain","tag-global","tag-leader","tag-philippines","tag-summit","tag-tech"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/12\/Global-Blockchain-Summit-The-Philippines-is-always-a-leader-in-tech-adoption-min.png","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/37273","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=37273"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/37273\/revisions"}],"predecessor-version":[{"id":37275,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/37273\/revisions\/37275"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/37274"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=37273"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=37273"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=37273"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}