Sweetbridge Inc, a blockchain movement in the US, is expecting the Philippines to become a successful digital economy.
The group’s strategic communications director Aaron Stanley shared his vision during a visit in Cebu City together with Sweetbridge CEO Scott Nelson to discuss blockchain implementation in partnership with Cebu Innovation Network (CIN).
“We can see high organic interest in the Philippines to learn about this new technology, about blockchain and this digital economy that we are in,” Stanley said, in a report by Sun Star Cebu.
He stressed about the country’s entrepreneurial spirit, coupled with its expanding young and tech-savvy population, to all play an important role in transforming the country into a smarter and cashless nation.
Stanley said blockchain technology has the potential to help the unbanked and underbanked nations by allowing its people to create their own financial alternatives in an efficient and transparent manner. The blockchain is a digital ledger that provides a secure way of making and recording transactions, agreements, and contracts. It enforces transparency and bypasses censorship.
An FT (Financial Times) Confidential Research titled “Southeast Asia ready to embrace blockchain” released last December 6 revealed that only 2.5 percent of consumers in five of the largest Southeast Asian countries (except Singapore) used cryptocurrencies in the three months to the end of September last year. The adoption rate was highest in Indonesia at 3.3 percent followed by the Philippines at 2.9 percent.
Source from Fintech Singapore