Philippines to Explore Blockchain Use Cases, Launches Training Program

The Philippine government has begun exploring use cases for blockchain technology and has launched a training program for researchers from the government’s Ministry of Science and Technology (DOST).

Enrico Paringit, a DOST official, reportedly said the aim of the training is to see how blockchain can play a role in areas such as healthcare, financial aid and emergency relief. Apart from this, Paringit noted that the department is also looking at how blockchain could be used in passport and visa issuance, trademark registration and government records.

While cryptos are a prominent application for blockchain, the DOST official emphasized that the department’s intent is to “build non-cryptocurrency applications.” Paringit said the goal is to produce blockchain development specialists who can support the government in various applications of the technology.

The program received funding to cover the costs of training information technology specialists and researchers. However, Paringit stressed that the lack of local blockchain experts has created difficulties for the department.

Fortunato dela Peña, the country’s secretary of science and technology, also weighed in, saying that blockchain is “an important emerging technology” that the country needs to develop.

Related: The Philippines starts trial CBDC implementation

In April, PayMaya, a digital payment provider based in the Philippines, launched a crypto trading feature within its application. The app, often used by Filipinos to shop online or transfer money locally, has listed Bitcoin (BTC), Ether (ETH) and other prominent cryptos for trading with the Philippine Pesos.

In the same month, the company behind PayMaya, Voyager Innovations, surpassed its valuation of $1 billion after receiving funds to develop the recently added crypto offering of its digital payment app. The company recognizes that there are opportunities in serving the local population in the Philippines when it comes to digital finance.