Philippines Becomes a Leading Hub for Cutting-Edge Tech Innovations

The Philippines stands as a crucial market for burgeoning technological advancements, according to nChain Co-founder and Executive Chairman Stefan Matthews. nChain's focus in the region includes bolstering its patent portfolio, fostering digital identity solutions, and exploring the convergence of AI and blockchain.

Philippines Emerges as a Hub for Innovative Technology Solutions

January 25, 2023

The Philippines has positioned itself as a prominent market for cutting-edge technological advancements, according to Stefan Matthews, Co-founder and Executive Chairman of nChain, a leading blockchain solutions provider. Matthews' remarks were made during an exclusive interview with CoinGeek Backstage at the Block Dojo Philippines Investor Dinner.

nChain's Commitment to the Philippines

nChain has consistently recognized the strategic significance of the Philippines. In 2023, the company unveiled initiatives aimed at supporting the digital transformation efforts of the Provincial Government of Bataan. Moreover, nChain played a pivotal role in the establishment of Block Dojo Philippines, officially launched in the country in August.

"The Philippines has been and continues to be a region of paramount importance for nChain's business initiatives and development," stated Matthews.

Focus on Intellectual Property and Digital Identity

nChain's primary focus revolves around building its intellectual property portfolio, with a parallel emphasis on digital identity. The company has consistently emphasized the fundamental role digital identity plays in Web3. In this context, the signing of the New Philippine Passport Act on March 11 by President Ferdinand "Bongbong" Marcos Jr. presents an intriguing opportunity. The legislation, known as Republic Act No. 11983, mandates the Department of Foreign Affairs (DFA) to create and maintain an online application portal and an electronic one-stop shop on its official website.

When asked if this initiative offered a potential use case for blockchain and digital identity, Matthews expressed strong agreement. He indicated a keen interest in exploring this area, leveraging blockchain technology to enhance the process.

Convergence of AI and Blockchain

Regarding the convergence of Artificial Intelligence (AI) and blockchain, Matthews expressed a personal fascination with the potential of large language models (LLMs). He has dedicated significant time over the years to studying this emerging technology.

"I have come to believe that there is a natural connection between the two. And the connection is data. Blockchains are all about data: data integrity and data immutability. AI requires vast amounts of data to make decisions and predict outcomes," Matthews explained to CoinGeek Backstage.

"I arrived early today and engaged in conversations with individuals from the academic community. Naturally, our discussions centered around blockchain, and I introduced the topic of AI because we had discussed the possibility of creating something unique here in the Philippines through the Dojo process. That's why we are gathered here tonight, to witness the completion of cohort one and the development of technological solutions for both the Philippines and the world."

"My aspiration is to see the marriage of blockchain and AI emerge from the imaginations of this country's innovators, whether in the second or third cohort," Matthews continued.

Block Dojo Philippines Successes

Block Dojo Philippines has achieved a significant milestone with the graduation of its first cohort, which included startups such as RealFlip, FleetHive, and APDXS, celebrated at the highly anticipated Block Dojo Philippines Investors Night.

To gain insights into the groundbreaking ventures emerging from Block Dojo Philippines Cohort 1, explore our previous coverage here.

AI and Enterprise Blockchain Integration

For AI to operate effectively within the legal framework and overcome growing challenges, it necessitates integration with an enterprise blockchain system. This integration ensures the quality and ownership of data input, safeguarding data while also guaranteeing its immutability. Delve into CoinGeek's coverage on this emerging technology to unravel why enterprise blockchain will serve as the backbone of AI.

Watch Block Dojo Philippines: Driving Innovation and Solution Development

For those unfamiliar with blockchain technology, CoinGeek's Blockchain for Beginners section offers a comprehensive resource guide to facilitate understanding and delve deeper into this transformative technology.