The Philippines Is Poised to Become Number One Global Blockchain Hub

By: Fintech News

Source:  fintechnews

The Philippines has the potential to become the number one blockchain hub, according to the newly formed Blockchain Council of the Philippines.

The archipelago is home to several blockchain startups and amongst the highest internet and NFT penetration rate of a digital population. In addition, the Philippines ranked first for non-fungible token (NFT) ownership out of 20 countries, with 32 percent of Filipino internet users saying they own NFTs.

It is also one of the most digitally connected, with a mobile phone penetration rate of 140 percent and an internet penetration rate of 68 percent. The number of mobile connections in the Philippines increased by 6.9 million (+4.6 percent) between 2021 and 2022.

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