In a bid to elevate technology in business processes in the country, the Cagayan Economic Zone Authority (CEZA) has partnered with NEM.io Foundation, a Singapore-based cryptocurrency and blockchain platform provider, to build the Philippine’s first-ever blockchain hub.
Set to rise in Sta. Ana, Cagayan, the blockchain hub is aimed at encouraging the promotion of blockchain technology within the country, and allowing various stakeholders in the region to be provided with the right technical education necessary.
Programs that are geared towards raising awareness about blockchain technology and developing blockchain-based applications, such as university tours, hackathons, workshops, forums and conferences, are underway and will be done in the hub.
“Partnering with CEZA allows us to offer more opportunities that will drive growth, innovation, and development in the Philippines and its regions,” says Emerson Fonseca, Head of NEM Philippines. “It will be interesting to showcase the possibilities blockchain has to offer as a platform to serve our role in society.”
Commonly described as a secure ledger that can process various transactions seamlessly, blockchain technology offers secure and cost-efficient operations that can be applied across industries. This will be beneficial to the Cagayan region as it attracts local and foreign investors and become a self-sustaining industrial, commercial, financial, tourism and recreational center. Fonseca reiterates that it will benefit CEZA with an increase in human capital, productivity, and competitiveness of the region.
“The region of Cagayan looks forward to optimizing the value of blockchain technology as a platform,” say Sec. Raul Lambino, CEZA Administrator and Chief Executive Officer. “The endless possibilities this partnership has to offer allows us to create an ecosystem that can possibly be the future for the whole country as well.”