The Philippines has the most to gain from blockchain adoption: Stefan Matthews on CoinGeek Backstage

The Philippines has the most to gain from blockchain adoption: Stefan Matthews on CoinGeek Backstage

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The Philippines has the potential to become a world leader in blockchain adoption, Stefan Matthews believes. After attending the first BSV Blockchain Meetup in Manila, nChain Executive Chairman stated that he believes the Southeast Asian country has the most to gain from blockchain technology.

The BSV Blockchain Manila Meetup brought together Bitcoin experts like Matthews, government officials, startup founders, developers and general Bitcoin enthusiasts to talk about blockchain and what the technology holds for the Philippines. Matthews was one of the speakers at the event, and he told CoinGeek Backstage that the interest in blockchain technology in the Philippines was unmatched anywhere else in the world.

“What I see is a correct understanding of the difference between blockchain and digital currencies. I see the diversity of interest coming through the door now to talk about the use of blockchain to different companies, industries and governments,” he said.

The Philippines was recently ranked second globally for adoption of digital assets, and according to Matthews, “of all the countries in the world with tremendous value in the use of blockchain, I think this country has the most to gain.”

At the event, Matthews interacted with several government officials, and as he revealed, most of them were keen to understand how to integrate blockchain technology into governance.

“I think the government has the most to gain because blockchain brings transparency, efficiency and immutability,” he noted.

One field he believes blockchain will revolutionize is money transfers. The Philippines ranks fourth globally for remittances, receiving $36 billion in 2021.

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“Imagine the rails that can get it into this country at a lower cost, so there’s more money out there circulating in retail,” he said.

Matthews believes only BSV can best serve the Philippines as it is the most scalable, cost-effective and efficient blockchain network globally.

See: BSV Blockchain Meetup Highlights

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