The Philippine Blockchain Week (PBWx) kicked off its nationwide series with the successful launch of ChainReact: Igniting a Digital Revolution in the Philippines, held on July 30, 2024, at the Arcadia Event Center in Davao City.
This event, supported by the Davao City Chamber of Commerce and Industry, Inc. (DCCCII), Davao City Investment and Promotions Center (DCIPC), and the Department of Information and Communications Technology (DICT), represented a pivotal moment for the Philippine blockchain landscape.
ChainReact brought together industry leaders, innovators, and blockchain enthusiasts to drive digital transformation and innovation in the region.
Blockchain Council of the Philippines President, Dr. Donald Patrick Lim, emphasized the event's objective in an interview, stating, "We want to make sure that all the businesses learn how to adapt blockchain." He specifically highlighted how blockchain technology can be maximized and beneficial for the business community in Davao City.
“Hopefully, Davao can become the blockchain hub of the Philippines,” Lim said, noting Davao City’s thriving community, particularly in Web3, which is one aspect of blockchain and is dominated by traders in Davao City.
According to Lim, in some countries, blockchain is not allowed, but in the Philippines, it is permitted. He also described blockchain as similar to the cloud, stating that it is an underlying technology that everyone will adopt sooner or later.
DCCCII President Belinda L. Torres, expressed her enthusiasm about the partnership with Philippine Blockchain Week.
“We believe that understanding the vastness and entirety of blockchain will be beneficial for the business community. This is inevitable, and we look forward to helping our members and the business sector learn how to utilize blockchain to our advantage,” she said.
ICT Davao President, Xavier Eric Manalastas, also shared his thoughts on how blockchain can benefit and further their efforts in digitizing small and medium enterprises in the city.
“Blockchain is not limited to currency. We’re looking at transactions, contracts, delivery systems, and communications—mostly for transactions that need to be verified, validated, and secured. Blockchain will play a key role in these areas. It’s not limited to financial transactions or cryptocurrency,” Malastas said.
Project Technical Staff of Commision on Higher Education Region 11 (Ched-Davao) Gerald Macasaet, described blockchain as a “very vast topic that covers different sectors.” This broad scope is one of the main reasons he is excited to join the event and learn more about it.
"I want to learn more about blockchain because it is an emerging technology that we are trying to explore. Although it has been around for a long time, the Philippines has yet to fully adapt to it,” Macasaet said.
In addition to the launch of ChainReact, the event also saw the introduction of DTaka, the newest e-wallet designed for the digital lifestyle of modern-day Filipinos. DTaka features a universal rewards program and aims to enhance the digital experience for its users.
"We are thrilled to announce DTaka’s partnership with PBWx as a major sponsor. This collaboration highlights our commitment to innovation and growth in the Philippine blockchain ecosystem," Emmanuel Samson said, CEO of DTaka.
Dr. Lim emphasized the importance of being well-informed and cautious before making any investments. “Don’t invest money in blockchain or cryptocurrency if you don’t understand it. Take your time to study and understand it thoroughly, and talk to people in the community. Once you’re sure, then you can invest,” he said.
PBWx is a series of dynamic blockchain events designed to strengthen the Philippine blockchain landscape. Inspired by renowned TEDx talks, PBWx aims to ignite transformative conversations within local communities by facilitating world-class learning sessions with both local and global industry experts. KBP