Philippine President Ferdinand Romuardes Marcos Jr. (commonly known as Bongbong Marcos or PBBM for short) shared a national digital transformation plan that shows that the country has the potential to become a global digital asset hub.
In his first National Speech (SONA), the President Said His government said it is trying to integrate breakthrough technologies into every aspect of the daily life of the Philippines as part of its efforts to digitize Southeast Asian countries.
“Revolutionary technologies in areas such as quantum computing, artificial intelligence, nanotechnology, the Internet of things, robotics, self-driving electric vehicles, 3D printing, virtual and augmented reality are radically transforming the way we do business. “He said.
Marcos specifically plans to sign several bills that will open the country to these innovations. Blockchain technology That is the quest. He revealed that e-government law, Internet trading law, and tax reform to address digital service providers are one of his top priorities.
The e-Government Law requires the Information and Communication Technology Authority (DICT) to “identify and leverage these innovations and improve governance” and create an “e-government master plan.”
The bill will allow the government to launch an e-identity project aimed at issuing 20 million digital and 30 million physical IDs by the end of 2022.
The bill will also enable the digitization of government services and the harmonization of records.According to the Philippine Daily Inquirer reportIt has the potential to take full advantage of blockchain technology and digital assets.
Philippines likely to deepen research into blockchain technology use cases
In particular, the Philippines is already on the path of digital transformation. One technology that has been the focus of some government parastatals is Blockchain / Distributed Ledger Technology (DLT).
Ministry of Technology (DOST) recently Release An in-house blockchain training program for investigating DLT use cases in financial assistance, emergency assistance, healthcare, passport and visa issuance, government record keeping, and trademark registration.
Similarly, the Philippine Port Authority Recruitment Blockchain technology used to process logistics records for the operation of some major ports.
on the other hand, Central Bank Electricity market operators say they are researching blockchain technology to improve financial market infrastructure. Peer-to-peer energy trading, Respectively.In addition, the country has been work In the Central Bank Digital Currency (CBDC).and Interview with CoinGeekEdna Villa, Assistant Governor of Bangko Sentral ngPilipinas, received positive feedback from government banks and major commercial banks in participating in the pilot project.
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