DAVAO CITY (MindaNews / 02 August) — Tech-savvy Dabawenyos must invest in establishing local data centers for blockchain technology, ICT Davao president Xavier Eric Manalastas said.
“Our vision in ICT Davao is to look to localize the implementation of blockchain, because right now if you do blockchain, we are looking at cloud services in Singapore, or other data centers. We want to see it being localized in Davao,” Manalastas told reporters at the sidelines of Philippine Blockchain Week nationwide series launch at Arcadia Event Center, Ecoland, Tuesday afternoon.
Blockchain technology is a type of a digitalized, encrypted system which securely records and verifies transactions and data across multiple computers through a digital “ledger” or a digital account book.
Manalastas said this will be the “rising technology” in the years to come.
He said data centers are needed to support the operation and maintenance of blockchain networks for the technology to operate.
He said it might need more space and electricity to operate, so those who would want to put them up must carefully plan as well.
Cloud services, meanwhile, is another system which also uses the Internet to store databases, networking, and software through an Internet-based server, mainly from big technology companies like Google, Microsoft, and others, to name a few.
Manalastas also said there is a need to train more people, especially the youth, on how to use the blockchain technology.
He said he is hoping the city government and private entities would learn this “enabling” technology.
“Among others, we’re looking at research sa mga universities, we have to secure research papers, we’re looking at the capabilities of the small and medium enterprises to be able to access the digitized services,” he said.
“So if they are porting into that system and their transactions are secured with the city and with the banks, it’s going to be a big help,” he added.
Manalastas said there is a “developing” community for people using blockchain technology, such as creating and purchasing non-fungible tokens but there is “no blockchain data center” yet in the city, which could potentially cater to encryption and securing data and transactions.
Meanwhile, Dr. Donald Patrick Lim, Blockchain Council of the Philippines President, said the city has the potential to be the “blockchain hub” of the Philippines.
He said there are many Dabawenyos who sell and trade cryptocurrency, for example, which is a digital currency backed by blockchain.
“We want to make sure that businesses are adopting blockchain, to know where to use it, and for the businesses later to decide… Ready na ang lahat (Everyone is ready) to adopt [blockchain] technology,” he added.
Belinda Torres, Davao Chamber of Commerce and Industry Incorporated president, said they are looking forward to using the new technology to their advantage.
“We believe that understanding the vastness and entirety of blockchain will be beneficial for the business community,” Torres said in a statement. (Ian Carl Espinosa/MindaNews)
