Bitget Introduces Innovative MPC Wallet for Enhanced Security

Blockchain Council Exec: Philippines Poised for Crypto AdoptionDonald Lim, the Founder of the Blockchain Council of the Philippines (BCP), believes that the country has all the necessary elements for mainstream crypto and blockchain adoption.In a recent interview with Cointelegraph, Lim discussed the potential for crypto adoption in the Philippines and explained why he is optimistic about the success of blockchain projects in the country.Photo by Krisia on PexelsFinding its place in blockchainAccording to Lim, the BCP recognized the global shift towards Web3 and organized the Philippine Blockchain Week to explore the ecosystem’s potential. That activity revealed to the organizers that the country has a vibrant community eager to find its place in the world of blockchain. Lim expressed confidence in the Philippines becoming the blockchain capital of Asia, citing the country’s technical expertise, young population with a median age of 25, and its ability to adapt quickly, as demonstrated by the popularity of the play-to-earn game Axie Infinity.Crypto interestAxie Infinity, a play-to-earn blockchain game, gained significant traction in the Philippines in 2021, with 40% of its player base coming from the country. This increased awareness of Web3 concepts and the creation of crypto wallets. Additionally, research carried out recently suggests the Filipinos are among the most interested in crypto in the region.Lim noted that international organizations have been eager to enter the Philippine market due to favorable demographics and the government’s open stance on crypto and blockchain. The executive emphasized that the government is not seeking to stifle innovation in the sector. On the contrary, it welcomes blockchain and Web3 projects, creating an environment conducive to their growth.Ethan Rose, founder of Pouch, a wallet service supporting the Bitcoin Lightning Network in the Philippines, corroborated this sentiment. Pouch has successfully onboarded over 400 businesses in the country to accept Bitcoin payments. While the onboarding of Filipino merchants into the crypto space is a positive step, Lim believes that it will take time before living solely on Bitcoin or crypto becomes a reality.Adoption inevitableHowever, he remains optimistic about the future, stating that it is only a matter of time before crypto adoption snowballs into something more significant.Lim highlighted the need for infrastructure development, expecting it to mature within the next four to five years. As the infrastructure improves, crypto will not only be used for payments but also for activities such as purchasing non-fungible tokens (NFTs) and participating in the metaverse. This comprehensive adoption will pave the way for a crypto-powered future in the Philippines.Philippine regulator, the Securities and Exchange Commission (SEC), recently delayed publication of its crypto regulatory framework. However, it appears that the move stems from an abundance of caution in getting the regulation right. Earlier this year, Robert De Guzman, Head of Legal Compliance at Philippines-based cryptocurrency exchange, Coins.ph, expressed his optimism that the authorities are developing a progressive regulatory framework for crypto in the Southeast Asian country.The Philippines shows promising potential for crypto and blockchain adoption, fueled by its young population, technical expertise, and supportive government. As the infrastructure continues to evolve, crypto adoption is expected to expand beyond payments, encompassing various aspects of the digital economy.

Cosmose AI, an artificial intelligence-driven retail analytics firm headquartered in Singapore, has opted to collaborate with the Near Foundation with the aspiration of building a blockchain-based payments system centered on low transaction fees as a more cost-efficient alternative to more conventional payments processors like Stripe and PayPal. Payment platform disruptionThe Near Foundation is a non-profit organization responsible for guiding governance, contracting protocol maintainers and funding ecosystem development relative to the proof-of-stake (PoS)-based Near blockchain protocol. In a blog post published to the Cosmose AI website on Sunday, the company set out the extent of its new partnership with the Near Foundation.Cosmose AI uses AI-powered analytics to track in-store foot traffic as a basis to engage with shoppers online. Both companies will work towards building a payment system that facilitates shoppers to purchase goods and services at low transaction fees through cryptocurrency. As part of the deal, Near has made a strategic investment in Cosmose AI, reflecting a Cosmose company valuation of $500 million.In its press release, Cosmose stated that the investment from the Near Foundation means that the Cosmose “is set to apply Web3 principles and further advance the AI-driven retail ecosystem. Cosmose believes that it can leverage Web3 such that users maintain complete control over their data while benefiting from the ecosystem they help to create.The AI-driven company has a suite of retail solutions, including the KaiKai app, which enables retail customers to discover retail stores in their local vicinity. The app also includes an online targeting platform. Both elements are being overhauled with a Web3 facelift, with the Near collaboration enabling the integration of blockchain into the app.KaiKai already settles payments by leveraging Near Protocol with the creation of its own native stablecoin, Kai-Ching. Near Foundation CEO Marieke Flament said that Near will give Cosmose “the means to leverage the full potential of Web3 in a way that is sustainable, transparent, and infinitely scalable.” Moving away from Stripe, PayPalIn an interview with TechCrunch, Cosmose Founder and CEO Miron Mironiuk stated: “ I’m not sure if you know how expensive and slow it is to process online payments. It’s absolutely crazy.” The Near protocol leads with an ability to achieve inexpensive, scalable blockchain transactions. If successful in building this blockchain-based payments system, Cosmose would be in a better position to replace the use of payments service providers like Stripe and PayPal.Mironiuk gave the example of a simple coffee purchase. Small transactions like that can involve transaction fees in excess of 10%. This overhead is reflected in the overall price of the cup of coffee, with the seller passing on the cost to the buyer. In that one isolated example, Mironiuk makes the point that a regular coffee drinker could be spending an additional $200 per year to cover the costs of payments intermediaries.Over the course of nine years, Cosmose has grown to a point where it extends its service to 20 million stores. The firm operates on a global basis, with its team of eighty staff distributed across centers such as Hong Kong, Tokyo, Paris, Shanghai and Warsaw, as well as at its Singapore headquarters.

FanC – a South Korean blockchain reward project designed for creators and users of the Watch-to-Earn short-form video app CELEBe – has signed a business agreement with Coins.ph, the largest cryptocurrency exchange in the Philippines. Through this agreement, the two companies aim to expand their respective global ecosystem through fanC’s rewards system, according to an article by local news outlet Daehan Kyungjae.Photo by Lance Anderson on UnsplashEmpowering creators and rewarding viewersThe CELEBe app aims to bring content creators and viewers together through Create-to-Earn and Watch-to-Earn mechanisms. The platform has notably collaborated with some 4,000 well-known figures, ranging from actors and singers to YouTubers and athletes. Connecting communitiesUnder the agreement, fanC's reward token (FANC) will be available for trading on Coins.ph, allowing fanC to deepen its roots not only in the Filipino market but also in the larger Asian blockchain community. "This agreement marks an important step in fanC's global expansion strategy," said Lee Dong-ho, CEO of fanC. "Through our collaboration with Coins.ph, we will build a stronger global network." Meanwhile, fanC plans to continue to strengthen its partnership with Coins.ph through activities like global meetings to lead the growth of its global fan community. The platform is thus committed to consistent technological development and innovation through collaborations with various global partners. Through these efforts, it aims to provide new value by building an ecosystem that connects the global blockchain community.