While cryptocurrencies are closely associated with the blockchain, the DOST says that it wants to focus more on other uses of the tech’s potential
MANILA, Philippines – Philstar.com on Saturday, May 28, reported that the Department of Science and Technology (DOST) formally began exploring blockchain technology and its potential applications in the Philippines.
The Philippine Council for Industry, Energy and Emerging Technology Research and Development (PCIEERD), an attached agency of the DOST, last week launched a blockchain seminar program for its research specialists coming from its many different institutes and units.
According to the report, the program currently has a funding of P1.6 million to cover about 70 DOST information technology specialists and researchers.
While the most popular application of blockchain currently – essentially an online ledger whose transactions are kept, verified, and protected through a network of computers and complex computations – is cryptocurrency, Enrico Paringit, PCIEERD executive director, told Philstar.com their main goal in exploring blockchain technologies was to find ways for it to be used in collecting taxes and in providing health care services and financial and emergency aid programs. Paringit also said it could be used in issuing passports and visas, and in keeping records of patents, trademarks, marriage, birth, and death certificates, and other records. – Rappler.com