Philippines will investigate blockchain applications and begin a training program

According to Department of Science and Technology official Enrico Paringit, the training is aimed at developing non-crypto applications.

For the first time, the Philippines Department of Science and Technology has launched a training programme for academics interested in studying blockchain technology applications (DOST).

An official from the DOST said that the training’s purpose is to explore how blockchain might be used in sectors like healthcare, financial assistance, and emergency relief. According to Paringit, the agency is also investigating the use of blockchain in the issuing of passports and visas, trademark registration, and the keeping of official documents.

An official from DOST emphasised that the department seeks to “create non-crypto currency applications” and adds that it hopes to produce blockchain development professionals who can serve the government in diverse uses of the technology.

In order to pay the costs of educating information technology workers and researchers, the programme secured money. Paringit did point out, however, that the absence of local blockchain professionals has caused issues for the department.

De la Pea, who oversees the country’s science and technology sector, called blockchain “an essential new technology” that the Philippines must further develop. De la Pea said.

PayMaya, a Philippines-based digital payment service company, introduced a cryptocurrency trading option to its app back in April. Bitcoin (BTC), Ethereum (ETH), and other important cryptocurrencies have been added to the app for trading with the Philippine peso, which is often used by Filipinos to do online shopping or local money transfers.

After acquiring funding to further expand PayMaya’s newly introduced crypto products, Voyager Innovations, the company behind PayMaya, exceeded a $1 billion value the same month. When it comes to digital money, the corporation sees a lot of potential in servicing the Filipino populace.

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