nChain’s Stephanie Tower presents opportunities in Web 3.0 at the Philippine Blockchain Week 2023

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    It’s no secret that Philippine President Ferdinand ‘Bongbong’ Marcos Jr. and his administration are pro-digitalists. The 17th President of the Philippines, in his first State of the Union Address (SONA), outlined plans to integrate breakthrough technologies as part of his administration’s digital transformation efforts. A few months later, his nChain, a world leader in Web3 and blockchain solutions, began work. Blockchain lectures and projects It begins with a memorandum of understanding with the Bataan provincial government. This was followed by a collaboration with Ateneo to promote blockchain education in universities. And most recently, we launched the Block Dojo Philippine Incubator Program.

    Setting clear expectations for the blockchain agenda of global companies, Stephanie Tower, nChain’s Head of Business Development in the Philippines, spoke about Web3’s role in the Philippines’ 10-point agenda and the work nChain has been promoting in the Southeast. , enlightened participants of Philippine Blockchain Week 2023. Asian country.

    Stephanie Tower at PBW 2023
    Stephanie Tower brings nChain – Blockchain DNA at PBW stage

    Mr. Tower describes important events that occurred during the height of Web 1 and Web 2. “Silicon [Valley] The giants actually suppressed our data,” she said. Tower added that despite the growing popularity of social media in the Web3 world, these giant companies are commercializing our data.

    Next comes Web3. This iteration of the Internet will enhance the exchange of value, user data and ownership.

    “This time, with the power of Web3 and blockchain technology, anything is possible and everything is interoperable,” Tower said. “Web3 is essentially the enablement of a peer-to-peer economy.” With the introduction of the new Internet, users can communicate directly and perform transactions without having to provide the transaction to another intermediary, Tower said.

    Web3 opportunities in the Philippines

    Tower then highlights four potential Web3 opportunities in the Philippines. These include:

    1. Realization of government policies
    2. Job creation
    3. Professional skill improvement
    4.Promoting financial inclusion

    Furthermore, with the promotion of Web3 along with the support of local governments, we will see positive changes in the Philippines, which will impact the economic development of the Philippines. 10-point agenda.

    Stephanie Tower at PBW 2023
    The Philippines’ 10-point agenda presented by nChain’s Stephanie Tower

    “For the Philippine government to achieve its 10-point agenda goals, it needs to promote blockchain technology because it makes things more transparent. Data exchange will be streamlined, effectively making it more effective. Government will be brought in. That is how we will achieve these positions on the agenda,” Tower explained.

    How can we begin and achieve digitalization? As a key takeaway from her presentation, Tower sees traditional processes in this digital age resulting in siled Philippine government operations. . The solution lies in building basic domestic capabilities by first building digital identities.

    “Everything is siled now, DFA [Department of Foreign Affairs] has its own, SSS [Social Security System] Each one is unique, but when you create a digital ID or SSI, you can access them all on a single platform,” she said.

    Finally, nChain Business Development Leader from the Philippines reminded all conference attendees that Web3 is all about efficiency.

    “What do you get when you automate a process? It gives us time. It gives us back the time we used to spend signing documents and waiting for paper to be disposed of.” she said.

    “It gives us time that is important to us. Time for our loved ones, time for our families. Web3 technology is more than the Internet or gaming. It will change our lives and create the largest It’s about promoting social movements.”

    Stephanie Tower at PBW 2023
    Stephanie Tower during her speech at PBW 2023

    See: Web3 is a natural progression of technology

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