Blockchain enabling Web 3.0

and applications will be easy to customize.

The Philippines is considered as being more engaged in blockchain technology than Western countries. Such an observation came from Ronald Tucker, President of the Australian Digital Commerce Association (ADCA), during the recent Australian Innovation Summit at the Makati Diamond Residences. He noted that it is an opportunity “to apply that technology in a market where the conditions are much better for transformation than in some Western economies, where change can be more difficult.”

A highlight of this summit was the formation of the Blockchain Association of the Philippines with ADCA, Coins.ph, Consensys, SCI Ventures, and Union Bank as founding members. Acting Secretary Eliseo Rio, Jr. of the Department of Information and Communications Technology and Australian Ambassador to the Philippines Amanda Gorely were the keynote speakers.

Last week, the first Global Blockchain Summit was held at the Manila Marriot Hotel in Pasay City alongside the Inaugural Blockchain Application Exhibition. Hundreds of exhibitors presented their products in the fields of distributed storage, digital asset transactions, cross- border payments, insurance claims automation, content incentives, traceability and fraud prevention, and the Internet of Things (IoT).

It came on the heels of the Fintech Summit organized by the Cagayan Economic Zone Authority (CEZA) at the Manila House in Taguig City. CEZA is positioning to become a hub for financial technology investments in this part of the world.

CEZA Administrator and Chief Executive Officer Raul Lambino said his agency remains stringent in checking the probity and integrity of companies that have applied for CEZA registration and are eyeing to launch their initial coin offering (ICO) or cryptocurrency exchange in the country. This would ensure the protection of investors and the