The blockchain market has grown rapidly over the past decade, but a lot of projects have faded into obscurity as regulations and restrictions forced them to reevaluate their potential. Models focused on securing short-term liquidity ultimately lost investor confidence. What matters to investors is not short-term price fluctuations, but long-term growth potential and recognition from the regulatory community.
The Philippines as a strategic base
The Philippines is one of the most competitive economies in the Southeast Asian region, and when it comes to blockchains, this archipelago is on the verge of fulfilling its promise as the Pearl of the Orient Seas. Already, its government has started putting rules and regulations in place for the blockchain players.
Regulatory-friendly environment: BSP’s VASP system and SEC’s CASP regulations demonstrate the trend toward integrating blockchain into the institutional landscape.
Growing digital economy: Demand for blockchain is exploding in industries such as remittances, payments, online services and tourism.
Development talent advantage: A competitive cost structure and a fast-learning talent pool ensure long-term growth.
Thus, several blockchain ecosystems are leveraging these to establish the Philippines as an emerging blockchain hub and create a bridgehead between Asia and Europe.
Global scalability and interoperability
In this thriving hotbed of blockchain systems, some ecosystems have started scaling for the global stage. Ecosystems like XODE make use of currencies (like XON and Bitcoin) at the heart of their operation. They have also started building bridges through establishing connections with the likes of Polkadot Kusama parachain, thereby securing cross-chain usability across Europe (EU MiCA framework) and Asia.
With the DAO management, or the decentralized autonomous organization management, blockchain investors get to be active decision-makers in the operation. With this structure in place, staking, burn and distribution policies are determined by community vote, which builds long-term market confidence and reduces speculative risk.
Some ecosystems even went further and applied for regional licenses, like the Czech MiCA license, which provides legitimacy and stability to the business and provides the perfect springboard for the European takeoff.
More than just a fad, it’s the future
Blockchains are more than just passing fads, though some platforms have gone underwater. The key, at the end of the day, is not the short-term gains but the ability to play the long game when it comes to scalability and taking a slice of the global market pie. It might be a painstaking process with all the governmental regulations and regional licenses, but like all else in life—no pain, no gain.
