Blockchain in gov’t offices to spur technology growth

By Kris Crismundo

May 29, 2018, 7:34 pm

MANILA -- Use of the blockchain system in government offices will facilitate faster growth of the technology in the country, an executive of the newly-created group Blockchain Association Philippines (BAP) said.

On the sidelines of the Blockchain Application and Economic Forum 2018 in Taguig City Tuesday, BAP Vice Chairman Ramon Vicente de Vera said the public sector is a key entity for the sector to grow.

“Once they get into it, we’ll actually also help the adoption. Imagine the government doing the blockchain solution. That (will) not just get the public interests but drive the demand in the society,” said de Vera, who is also the Fintech and Partnerships Head at Union Bank of the Philippines.

“There are so many used cases there -- land titling, OFW remittance, loans, even in the backend like efficiency, productivity, procurement. So many used cases on government,” he added.

The BAP was launched at the Blockchain Application and Economic Forum 2018.

De Vera said BAP aims to create a blockchain center of excellence in the country that will help the growth of blockchain application across various sectors in the Philippines and to use it as driver for inclusive prosperity.

He said BAP aims to propose to the Commission on Higher Education and Technical Education and Skills Development Authority the creation of a blockchain education program.

“It can be done by the Association, its partners, as well as bringing in global leaders. There are blockchain academies from Australia, New York, and Japan that can really help in the education aspect,” de Vera said.

Blockchain is a digital ledger with a large network of entities where data is stored in “blocks” -- not in any single location -- that are continuously updated and are secured using cryptography.

BAP founding members include UnionBank, ConsenSys blockchain software firm, Australian Digital Commerce Association,, and Satoshi Citadel Industries. (PNA)