Congressman Seth Frederick P. Jalosjos of the 1st District of Zamboanga del Norte stated during a forum that Mindanao can be the first region in the country to be powered by cryptocurrency and blockchain.
In a Philippines-Japan Forum on Investments and Cryptocurrency that happened in Tokyo, Congressman Jalosjos shared that his region will be the first in the country to be powered by the new technology.
Also discussed in the forum is how blockchain and cryptocurrency are transforming industries including real estate. *MLS property data was also tackled because of its ability to share data and processes. The talk revolved around the new technology and how it can solve the risk of fraud and take out the middleman. Blockchain can be a tool for the real estate ecosystem to enable people to gather data in a secure and efficient manner.
The forum was hosted by the NOAH foundation that utilizes blockchain in the Philippines for joint venture developments. Currently, the foundation has two major developments, one in Manila Bay’s reclaimed area called Horizon Manila and the other one is a high-end resort community in Zamboanga del Norte.
There is another region in the northern Philippines that is also vying to be the first cryptocurrency and blockchain-powered in the country. The Cagayan Special Economic Zone and Freeport (CSEZFP) currently aims to be the Silicon Valley of Asia. It expects around Php 2 – Php 3 billion worth of investments as it requires a minimum of $1 million.
*MLS – multiple listing services