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The nationwide ID system of the Philippine Statistics Authority (PSA) stays on observe this yr. ePhilID, or the digital model of the Philippine Nationwide Identification System (PhilID), can be utilized for all transactions within the nation, permitting registered Filipinos to have higher entry to monetary and social providers—nonetheless, the initiative is going through public criticism over concern of data leaks.
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In her go to to the Philippines over the last Digital Pilipinas Festival 2023 on the SMX Aura in Bonifacio World Metropolis in Taguig, digital identification was nChain CIO Christine Leong’s central matter, and he or she says blockchain may be an enabler now that the nation is implementing its ID system.
“I feel, particularly within the rising financial system, as you progress into a brand new digital identification ecosystem, blockchain is an enabler a part of that,” she mentioned. “Utilizing blockchain can leverage the capabilities of knowledge sharing…[it] helps to ease the way in which of verification and in addition the features of belief.”
Leong shared with CoinGeek Backstage some real-world use instances of blockchain and the longer term initiatives of the worldwide blockchain options agency.
Blockchain can be utilized for good
Working within the blockchain area since 2017, Leong has skilled her justifiable share of points inside the ecosystem—notably with blockchain’s affiliation with “cryptocurrency“—however the nChain CIO is agency that the ecosystem has at all times been targeted on what blockchain technology can bring to the people.
“I feel all of us want to know and differentiate between the craziness that’s crypto and the character of hypothesis. There’ll at all times be one thing new to take a position on, however that doesn’t imply that the elemental expertise is off, or it’s not [what it’s supposed to be], which is to allow the subsequent era of functions that we are able to use and profit from,” she defined.
Delving into nChain’s future and present works, Leong shared that the worldwide blockchain options agency will launch a digital identification product. nChain can also be engaged on an e-signing product similar to DocuSign, the place customers can signal a doc securely recorded on the blockchain.
“It’s already in manufacturing and can be utilized throughout the board…Will probably be aligned to EU ID standards or the worldwide requirements which might be rising round identification,” Leong mentioned, including that each one of their merchandise made with blockchain have to be interoperable and aligned with worldwide requirements.
nChain has extra in retailer because the blockchain options agency plans for a one-stop store for all Web3, together with digital belongings, digital identification signing, and occasions on chain.
“[We] shall be launching a one-stop store for builders to make use of in order that they don’t must go to 6 totally different distributors for the entire cool capabilities that may allow Web3,” she mentioned.
To be taught extra about digital identification and its significance to the Web3 world, verify this keynote speech by Christine Leong on the Digital Pilipinas Pageant 2023 Day 2.
Watch: Web3 will change our lives, nChain CIO Christine Leong explains how
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New to blockchain? Try CoinGeek’s Blockchain for Beginners part, the last word useful resource information to be taught extra about blockchain expertise.
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