Blockchain Group Partners with Philippines to Accelerate Web3 Adoption

What is Web 3.0 and its Impact on Blockchain Adoption in the Philippines

The Blockchain Council of the Philippines (BCP), a non-profit organization that is working to improve the regulatory framework for blockchain technology in the country, has recently partnered with the Department of Information and Communications Technology (DICT) to foster Web3 adoption in the Philippines.

Dr. Donald Lim, the founding president of the BCP, stated that the organization’s vision is to drive Web3 adoption for the Philippines. This is in order to make the country a global leader in blockchain technology. To achieve this goal, BCP is actively educating and collaborating with local stakeholders within the Philippine blockchain ecosystem, such as government bodies, Web3 developers, civil society organizations, and businesses.

The BCP has also established a partnership with the DICT, an executive department of the Philippine government that is responsible for developing and promoting the country’s information and communications technology agenda to support the development of the nation.

Web 3.0 is the latest evolution of the internet, which is based on a decentralized and distributed network. It is a major step forward in the development of the internet, as it enables users to interact with each other directly, without the need for a third-party intermediary. This allows users to have more control over their data and how it is used.

The partnership between the BCP and the DICT will help to foster the adoption of Web 3.0 in the Philippines. This will have a positive impact on the blockchain industry in the country, as it will provide a more secure and efficient way to conduct transactions and store data.

Web 3.0 and Blockchain Adoption

DICT Director Emmy Lou Versoza-Delfin recently commented that the nation is not a stranger to blockchain technology, and is ready for adoption. The executive further noted that this development makes the country a leader in blockchain education, and a global leader in the blockchain industry.

Crypto in the Philippines

At the recent BTC Prague event, Cointelegraph interviewed Ethen Rose, the founder of Pouch – a wallet service supporting the Bitcoin Lighting Network in the Philippines. Rose discussed the difficulties of introducing Bitcoin (BTC) to people within the country. He stated that they are currently pitching BTC to merchants as an alternative way of attracting customers to their businesses.