PBIC reveals roadmap for blockchain infrastructure

The Philippine Blockchain Infrastructure Council (PBIC) has revealed the roadmap for the country's blockchain called the Philippine Blockchain Infrastructure Highway.

- By JONATHAN CASTILLO

PBIC Chairman, Jonathan Bocalin Retired General Hermogenes Esperon Jr., chairman, Philtrust Bank

This project aims to build a framework for digital transparency, accountability, and data sovereignty, where every transaction is "verifiable." In short, the Philippine Blockchain Infrastructure Highway is being developed with high hopes that it can show funds are going where they are supposed to go.

When we say blockchain, too often the first thing that comes to people’s thoughts is cryptocurrency, and too often, people think cryptocurrency equals scam. That’s a “yes and no” topic that is best discussed in another article. The point is, blockchain is more than cryptocurrency. Blockchain is a platform where things can be built.

A simplified way to explain it is to think of Blockchain as a digital ledger. This means, it’s a record book. What makes it potentially better is it's a ledger that's out in the open and people can see.

The one leading the development is PBIC Chairman, Jonathan Bocaling, who built the Bayad Center, and has worked with US telecoms and police agencies to develop secure communications.