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

The Philippines has the potential to become the global leader in blockchain adoption, Stefan Matthews believes. After attending the inaugural BSV Blockchain Meetup in Manila, the 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 together 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 interest in blockchain technology in the Philippines was unmatched anywhere else in the world.

“What I’m seeing is a correct understanding of the difference between blockchain and digital currencies. I’m seeing the diversity of the interest that’s coming through the door now to talk about the application of blockchain to various companies, industries and government,” he said.

The Philippines was recently ranked second globally for digital asset adoption, and according to Matthews, “of all the countries in the world with tremendous value in the use of blockchain, I believe that 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 they can integrate blockchain technology into governance.

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

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

“Imagine the rails that can get that 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’s the most scalable, cost-effective, and efficient blockchain network globally.

Watch: BSV Blockchain Meetup Highlights