The Bataan Filipino Province intends to become a blockchain development center – Bits Media

Administration of the Free port of Bataan (FAB) plans to make the province offshore financial center for the development of the latest technologies, including blockchain.

Thanks to the adoption of republican law No. 11659 The FAB administration will be able to register and issue licenses to commercial organizations, working in the field of artificial intelligence (II), cybersecurity, virtual reality, Internet of things (IoT) and construction of "smart cities". The department will also control the activities of companies, related to blockchain and distributed registry technology.

This was stated by FAB administrator Emmanuel Pineda (Emmanuel Pineda) на AIBC Dubai Summit, where the leaders of the blockchain industry and cryptocurrencies gathered. Pineda emphasized, that I am ready to promote this economic zone in the Philippines as jurisdiction, friendly to innovation. Leading Philippine companies, working with blockchain, Already united to create Bataan Blockchain City.

Francis Himenes (Francis Jimenez), General Director of Acceptar Group, participating in this initiative, considers, that the creation of an adjustable digital ecosystem will accelerate the massive introduction of cryptocurrencies. Besides, The Philippines will become an attractive country for industry leaders, which will increase the influx of investment in the country.

The cryptocurrency industry in the Philippines is developing a rapid pace. At the beginning of the year Union Bank of the Philippines (UBP) reported, What plans to provide customers with cryptocurrency trading and storage services. And last year the Philippine stock exchange (PSE) began to prepare for the launch of trading with digital currencies, Waiting for the permission of the regulators.