The Philippines has enormous ambitions for the future, and a lot of them revolve upon blockchain technology. University-based innovation centers will be established to improve students’, the workforce’s, and even the government’s knowledge and abilities.
Dr. Enrico Paringit, executive director of the Department of Science and Technology – Philippine Council for Industry, Energy, and Emerging Technology Research and Development (DOST-PCIEERD), stated that blockchain education will be encouraged in universities.
“By educating our students the skills in universities, we hope to expand the knowledge and skills of our workforce in order to develop the use of blockchain.” Even in the government sector, we need to use and integrate blockchain,” Paringit remarked during the recent Nascent Technology Summit presented by Digital Pilipinas (DP).
The DOST-PCIEERD and DP reached an agreement to develop university-based innovation centers around the country.
The arrangement comes a month after a three-way cooperation was formed to create the Think and Tinker Laboratory – Technology Business Incubation (TBI) program. Mapa University’s technology and engineering school, DOST-PCIEERD, and Digital Pilipinas are the three partners.
The TBI program is the university-based innovation center’s pilot project to foster education/industry/government collaboration on blockchain, cryptocurrency, API, open finance, education technology, and other new technologies.
The agreement was signed by DOST Secretary Fortunato de la Pea, Dr. Paringit, and DP convenor Amor Maclang. And it was witnessed by Sopnendu Mohanty, Chief Fintech Officer of the Monetary Authority of Singapore (MAS).
Maclang emphasized that there are numerous ways blockchain can be used in education, and that the competence might assist certify a student’s credentials.
“Record keeping is a major use of blockchain in education.” “Blockchain can eliminate much of the process and streamline verification procedures, saving the school and educators considerable time,” Maclang added.
There has been a significant shift in how education is seen.
This year, education is a major focus for DP. The Digital Pilipinas Academy has teamed with Affinidi, a Singapore-based certifying authority, to offer micro-certification courses on AFIN’s APIX Oxygen platform.
“We want to emphasize micro education and micro education this year.” The school system in the country has changed dramatically. We no longer see our children enrolling in traditional four- or eight-year college courses, but rather in technical skills that are quick to learn and provide immediate certification,” Maclang remarked.
She stated that her organization will engage with educational institutions and significant organizations to develop an internship program that would allow students and career changers to work with many corporations in less than a year. This will give them with the necessary abilities while also guaranteeing that they will be Web 3.0 certified after they graduate.
“Many people may not want to commit to long-term classes… but they can learn on-demand from market leaders.” Learning barriers are not as severe in this decentralized environment as they formerly were.”
According to Todd Schweitzer of open finance technology solutions vendor Brankas, the Philippines is an intriguing target for Web 3.0, with many digital banks offering investment options.
He claims that 70% of the adult population is still unbanked, and that even for those who do have a bank account, they are underserved.
“They get their pay, and they withdraw the money.” With the rise of play-to-earn games like Axie Infinity, we witness a growing number of Filipinos, particularly young people, amassing money through the usage of cryptocurrencies and offering APIs that enable the growth of these economies through the use of blockchain technology. During the panel discussion, he stated, “Web 3.0 plays a big role in decentralizing and democratizing assets.”
According to blockchain data platform Chainalysis, the country placed third in Southeast Asia in terms of digital asset adoption last year.