Philippines Is On The Cusp Of Something Very Big, According To Coins.ph CEO

Wei Zhou, the previous CFO of Binance and present CEO of Cash.ph, believes that the Philippines is on the cusp of a serious technological development. Cash.ph, the main cellular pockets and cryptocurrency alternate within the Philippines with over 16 million customers, was acquired by Zhou earlier this 12 months to give attention to digital property investments reasonably than fiat.

Zhou emphasizes the necessity for Filipinos to turn into extra accustomed to blockchain, crypto, NFT, and different digital property by way of on a regular basis use. On the current Philippine Fintech Pageant, Zhou emphasised the significance of crypto schooling to make it extra accessible and comprehensible to the common Filipino. He believes that schooling is essential to increasing monetary inclusion within the Philippines, notably for individuals who are underbanked or deprived.

Zhou said, “We plan to do extra comparable occasions with different faculties and universities within the metro. We perceive that by way of tapping academic establishments we will affect and encourage the youth to start out their journey in the direction of digital possession and monetary empowerment.”

He additionally stated, “All the things on this play-to-earn scene and the like is simply beginning. We’re going to see extra collaborative efforts each from the standard and the crypto area, and we wish to latch onto these ideas and turn into that platform that can assist extra folks earn.” Cash.ph lately launched Cash Arcade, the place customers can earn tokens whereas enjoying each Web2 and Web3 video games.

In keeping with the Manila Bulletin, on-line gaming within the Philippines is predicted to proceed rising within the coming years because of the widespread availability of reasonably priced cellular gadgets and improved web infrastructure.

Axie Infinity, the favored blockchain-based sport launched in 2018 which has had over 200,000 registered customers and generated over $10 million in gross sales in 2021 alone. Partnerships with main firms like ConsenSys and Animoca Manufacturers have helped to deliver the sport to a wider viewers and improve adoption and recognition of play-to-earn video games and NFTs within the Philippines.

As CEO of Cash.ph, Wei Zhou goals to make the Philippines a world chief in Web3, not simply in ASEAN. He sees digital property and blockchain expertise as a solution to financially empower Filipinos and believes that the nation has the potential to turn into a technological chief.

Zhou in contrast the present state of the Philippines to China’s pre-boom interval and pressured the potential for the nation to turn into a hub for innovation. He inspired Filipinos to embrace blockchain and digital property as the way forward for finance and urged the federal government to create a supportive atmosphere for these applied sciences to thrive.