Project background

As we all know, the Philippines is one of the first countries in the world to implement official guidelines for cryptocurrency transactions. Unlike the more cautious attitudes of the United States, the United Kingdom, Russia and other countries, the Philippine government is very positive and open towards digital currency and blockchain. And contrary to central banks in the world, the Central Bank of the Philippines (BSP) intends to formulate favorable and encouraging policies for cryptocurrencies such as Bitcoin.

In 2021, the International Data Corporation released the "2021 V1 Global Blockchain Spending Guide" on March 24. According to IDC forecasts, the global blockchain market will reach 18.95 billion U.S. dollars in 2024, with a compound growth rate of approximately 48.0% during the five-year forecast period (2020-2024). The five-year compound annual growth rate (CAGR) of China's blockchain market will reach 54.6%, ranking first in the world.