Ezra Regera’s Original Story For Coin Telegraph

The Philippines has all the elements for mainstream cryptocurrencies and blockchain adoption, according to Donald Lim, founder of the Philippine Blockchain Council (BCP).

In an interview with CoinTelegraph, Lim shared his thoughts on the country’s possible adoption of cryptography and explained why he believed blockchain projects could potentially succeed within the country.

Lim told the Cointelegraph that BCP had organized an event called Philippine Blockchain Week, recognizing that the world was moving toward Web3, and that there was an entire ecosystem that wanted to “find their place in the world”:

“We feel very strongly that we can become the blockchain capital of Asia. We have technical know-how, we are very young, we have a median age of 25 years, and in terms of adoption we realize that we can adapt as quickly as we did in Axie Infinity.”바카라사이트

In 2021, Play-to-Earn (P2E) blockchain game Axie Infinity became popular in the Philippines, with an estimated 40% of the game player base coming from developing countries, which, according to Lim, introduced many Web3 concepts here, such as creating cryptocurrency wallets.

Since then, the BCP executive said there has been a lot of interest from global participants looking to set up projects in their own country. “We have seen that there are many international organizations around the world that want to infiltrate the Philippines,” he said.

According to Lim, these organizations can thrive here because of the government’s stance on cryptocurrency and blockchain, as well as demographic factors. He explained:

“We have an open government. There is no government that wanted to shut us down. Therefore, we feel that any blockchain project or Web3 project has every opportunity to thrive in the country.”