The Department of Science and Technology-Advanced Science and Technology Institute (DOST-ASTI) in the Philippines is leading the way in fostering the next generation's understanding of blockchain, NFTs, and cryptocurrency. Read on to discover how the Philippines is empowering its youth with hands-on experience in these transformative technologies, shaping the future and innovation.
Philippine government agency DOST-ASTI is empowering the youth with hands-on experience in cryptocurrencies, blockchain technology, and non-fungible tokens (NFTs). In a recent tech forum held on Sept. 20, the agency engaged young minds in exploring the potential of blockchain technology and its real-world applications. The forum aimed to ignite a passion for science, technology, and innovation as powerful tools for creating a sustainable future.
The event marked the introduction of students to the basics of blockchain technology, with senior science research specialist Roxanne S. Aviñante positioning blockchain as an emerging technology with high job demand. Specialist Marc Jerome T. Tulali delved into NFTs and the real-world use cases of blockchain, shedding light on the Philippines' development of a blockchain-based system for managing intellectual property called the Self-Sovereign Identity Empowerment: Reinventing Rights and Attributes (SIERRA).
The students also learned about blockchain's implementation in various business verticals, including gaming and entertainment, healthcare, government and public sector, central bank digital currencies (CBDCs), decentralized finance (DeFi), identity, and physical infrastructure. Moreover, the Philippines has started exploring stablecoins on a federal level, with the central bank announcing controlled trials of a national stablecoin pegged 1:1 to the local peso in collaboration with Coins.ph.
This initiative is a step forward in ensuring that the Philippines is prepared for the disruptive impact of blockchain-driven technologies. It also reflects the country's commitment to exploring innovative solutions for digital asset trading and improving remittances, an area where the Philippines ranks as the world's fourth largest in inflows.
This development not only showcases the progressive approach of the Philippines in embracing technological advancement but also serves as an exemplary model for other nations to empower their youth with crucial knowledge and hands-on experience in blockchain, NFTs, and cryptocurrencies. It's a transformative journey that is shaping the future of technology and innovation within the country and beyond.
This comprehensive news piece sheds light on the impactful measures taken by the Philippines' DOST-ASTI to educate and empower the youth in the realms of blockchain, NFTs, and cryptocurrencies. The initiative not only fosters innovation but also lays the foundation for a sustainable and tech-savvy future, making it a noteworthy development within the global landscape of technological advancement.
(Arijit Sarkar, Cointelegraph, 2024)