MANILA – Following the heels of the Blockchain Asian Forum 2018 in Manila from May 28 to May 30, Pundi X hosted its first-ever meet-up in Manila for the blockchain community, which included partners, developers, enthusiasts, contributors and media from around the country and Southeast Asia on May 30.
As the highlight of the meetup event, Pundi X demoed Pundi XPOS, a blockchain-based point-of-sale system that will enable brick-and-mortar retailers to accept, sell, and buy cryptocurrency, making it accessible to the next billion cryptocurrency users.
After the demo, the floor opened for questions and then general networking. The company sees the demand of acquiring cryptocurrency in the Philippines is on the rise as more and more people are considering using cryptocurrencies as means of cross-board payment and store of value.
“There are over 2.3 millions of documented overseas workers in the Philippines. Some of them choose to purchase cryptocurrencies and send them back to their families. Cryptocurrency can make the cross-border transactions faster and more cost effective,” said Peko Wan, Vice President of Pundi X, who noted that the Philippines is one of the largest markets in ASEAN countries that is friendly to cryptocurrency startups.
Pundi X is optimistic about the local blockchain ecosystem, especially now that the company is planning to ship its cryptocurrency point-of-sale smart terminal to physical stores in the upcoming weeks. Though the blockchain ecosystem in the Philippines is not as developed as in neighboring markets, the company is upbeat about the technology’s future in the country.
“The Philippines already boasts one of the fastest growing startup scenes in Asia. There are many talented entrepreneurs, designers, and developers here, and equally many interesting problems to address: I have no doubt that the country’s best talent will increasingly turn to more and more blockchain technologies to create truly innovative solutions,” said Wan.
While blockchain technology is most closely associated in the public eye with cryptocurrency in general and Bitcoin in particular, the tech can be applied to innovate in most fields, including everything from real estate and voting to messaging and smart contracts. Blockchain, after all, is a list of records maintained and kept secure through cryptocurrencies.
As further evidence that the country’s blockchain ecosystem is nascent, Wan cited the plethora of financial-technology companies already headquartered out of the Philippines who leverage blockchain technology in some way; the rise of blockchain industry organizations, such as the Blockchain Association of the Philippines and the Philippine Association of Digital Commerce and Decentralized Industry; and the growing number of community-building events and conferences, including, of course, the Blockchain Asia Forum 2018.
Local blockchain developers and retailers interested into adopting blockchain-based transaction, please contact bd@pundix.com or media media contact at press@pundix.com
