🇵🇭 The Philippines to Launch its Own Government Blockchain
Weekly Crypto News Recap for June 3 - 9, 2024.
GM. The biggest story from last week is that one slide in a government presentation that has the word “blockchain.”
That, and more news in today’s weekly recap!
Market Updates 📈
Here are the crypto highlights of the week:
Bitcoin, after rallying to $71,000, is still only up 2% vs the previous week.
BNB pumped to more than $700 before settling to $673, still an impressive 11% up vs the previous 7 days.
The weekly top gainer is BRETT ($0.1572), up 57% followed by ORDI (22%), STX (19%), and KASPA (15%).
The weekly top loser is BEAM ($0.0227), down 21%, followed by TIA (21%), LDO (20%), and CHZ (19%).
Coin of the week: $MOTHER by celebrity Iggy Azalea, up 135%.
Related news: Ethereum ETFs could attract $3.1 billion by 2024, says a new report.
Feature News: The Philippines to Launch its Own Government Blockchain
It’s going to happen: The Department of Information and Communications Technology (DICT) has introduced eGOVchain, a government blockchain aimed at enhancing transparency, security, and efficiency in public transactions. More of that in our coverage here on BitPinas.
What’s the significance: If successful, the Philippines may well be one the first countries to launch its own blockchain.
Where was this announced? During the kick-off celebration of the National ICT Month. Many crypto personalities, including members of the Blockchain Council of the Philippines were in attendance.
How far is the government blockchain project? Undersecretary David Almirol said they have already set up the first node. They are looking to set up the second node before the year end and the third one next year.
How are the responses so far? The news did not get that much attention, possibly because there was just a lot of things that the DICT announced on that day. Crypto personality Luis Buenaventura did provide these comments on his page:
“To be clear, I'm not saying that a government-controlled blockchain protocol isn't good. I think it's fine, and I think as long as they allow external watchdog groups to audit it then it's at least more transparent than the current system of photocopiers and filing cabinets.”
What’s next: More insights into the exact tech and provider might be revealed soon.
Local Crypto News 🇵🇭
Solana Ecosystem Call happened in various places in the Philippines. They matched the theme with the fact that we’re celebrating the country’s Independence Day in a few days. Here’s from the Bicol leg:
GCrypto unveils new look for in-crypto trading.
NFT artist Remster Bautista to debut Genesis Solo Exhibition.
Blockchain Campus Conference set for June 2024 in Manila.
Kaia blockchain launches in the Philippines.
Tambay NFT group announces new season.
Educational Corner 🎓
This week we published a number of articles related to airdrops and Telegram. 👀
Tap-to-earn: Crypto clicker games with airdrop potential.
Hamster Kombat, a new viral Telegram game, has reached 100 million players.
Telegram Stars is a new in-app monetization initiative.
Regulation Watch 📜
Stay informed about the latest regulatory updates from here and around the world and what they mean for you:
The HK Securities and Futures Commission suspects two new trading platforms to be engaged in fraudulent activities.
South Korea is looking to adjust its crypto taxation policy.
Donald Trump is doubling down on its support for crypto.
Community Spotlight 🔦
Meet the Tambay NFT Collection Group: The collection is launched by PDAX’s NFT marketplace called Mintoo and has become the flagship collection in that platform. One of their advocacies is to finally change the mindset of Filipinos when it comes to Pinoy projects, which they mostly deemed as rug pull. Check out the following articles on BitPinas:
Tambay NFT wishes to change Filipino perception of Pinoy crypto and web3 projects.
Tambay NFT to launch new series, teases major brand partnership.
Homegrown collection Tambay NFT launches web3 journal.
Tambay NFT on building community despite bear market.
At the Scene 📍
On the ground activations and more.
The Blockchain Council of the Philippines at the AIBC Blockchain Summit:
Another photo from Bicol’s Solana Ecosystem Call.
Kaia blockchain launch at Coins.ph Event Space.
DICT ICT Month Kick Off (From Eliezer Rabadon)
Last Week on the BitPinas Webcast 📺
In last week’s webcast, we talked about basic crypto trading strategies with prominent crypto traders John James Genove and Fermin Barrenechea III. Very interesting insights on risk profiling, futures, copy trading, and more.
Upcoming Event 📅
Happening this June 13 and 14 is the Blockchain Campus Conference by The BLOKC. Check out more details here.
Thanks for reading!
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If you have local CryptoPH News or updates to share, please send a message to michael@bitpinas.com!