According to reports, the worldwide blockchain market amounted to $708 million in 2017 and is expected to rise to $60.7 billion by 2024. The technology itself has been around for a decade, and after a slow start, is on the brink of emerging markets and sectors around the globe.
However, our quest for The 10 Most Innovative Tech Companies to Watch in 2020 took us to the Philippines where the year 2019 was a challenging one. The majority of blockchain pioneers facing setbacks. They faced challenges in depressed market sentiment and uncertainty around regulations.
Though, there were breakthrough projects pioneered by large banks. For instance, UnionBank’s Project i2i, the launch of stablecoins from UnionBank and RCBC. Still, the market dictated more by consolidation and closures, especially in the enterprise development space.
And this is where we found our next tech innovator. We would like to present BlockchainSpace, a company that promotes the adoption of blockchain not only in the Philippines, but in the entire Southeast Asia.
BlockchainSpace facilitates the proliferation of awareness, education, and the adoption of blockchain. Through its communities, partnerships, and internal expertise, it supports local and international blockchain companies. It helps companies to connect, launch, and grow blockchain projects from creative conceptualization to real-life implementation.
The Supremo of BlockchainSpace
A tech-savvy personality, Peter Ing leads BlockchainSpace as its Founder. He is also Managing Director of Blockchain Advisory Asia and a chair of the Fintech Philippines Association.
Since its inception in 2018, the company has managed more than 60 blockchain events including meetups, industry forums, and hackathons. It has connected over 60 industry leaders to more than 10,000 Philippines-based community members. On the outside, under his leadership, BlockchainSpace has helped over 20 international clients to connect with local regulators, industry leaders, community members, and tap into local talent.
BlockchainSpace serves its clients via two methods:
First, Event Packages, which include Meetups, Launch Events, Hackathons, and Tournaments.
Second, Executive Events, which include Seminars, Workshops, and Roundtables.
In general, the company helps local and international clients to communicate with stakeholders, core influencers, and fintech verticals by optimizing their on-site network and enhancing the networks of their partners.
“We work with some of the brightest minds in the Philippines tech industry and help source dealflow, specialized talent, and help commercialize innovative concepts with more traditional industry partners. Such innovative applications include blockchain solutions for e-wallets, savings accounts, tokenized assets and digital collectibles,” says Mr. Ing.
Revealing the secret ingredient, Mr. Ing sees its community to be the core of BlockchainSpace’s success. He says, “Every day, we strive to learn how to utilize the strengths of the community”. The community comprises industry practitioners, technical working groups, developers, and general fans.
Further, the organization feels privileged to be surrounded by passionate and enthusiastic people. This enthusiasm helps BlockchainSpace to drive new things and push new boundaries.
Recognition from Industry
The industry has indeed recognized BlockchainSpace for its services and efforts. In 2018, the firm was picked up by some Chambers of Commerce as an innovative enabler for the technology industry. And in June, it was a finalist for the ‘Entrepreneurship Award’ at the French Chamber’s Business Awards.
In 2019, in conjunction with the company’s 2nd annual hackathon, it was backed and supported by the Philippines’ no.1 fintech enabled bank, Unionbank. With this collaboration, it co-launched an independently run Fintech Forum entitled the Inclusive Prosperity Fintech Forum.
Furthermore, for two consecutive years, 2018 and 2019, the organization has hosted annual ‘Drink, Talk, Learn’ (DTL) sessions over Christmas. The last with more than 15 sponsors and 20 speakers participating.
A Clear Vision
The company believes that Blockchain protocols with deeper pockets will continue to focus its efforts on baseline education and talent development, highlighting what the Philippines offers best: talent and opportunity.
For the year 2020, for industry, as an organization, BlockchainSpace envisions a push for:
- Education (Online Courses/University Curriculum/Developer and Enterprise Workshops)
- Drive for retail adoption of Cryptocurrencies (Peer-2-Peer exchanges/Brokerage/Trading)
- Piloting of innovative blockchain business models by larger corporates and financial institutions
As the market matures, Mr. Ing looks forward to forming more enterprise ties and to become a dedicated innovation hub for more traditional companies. He asserts, “Digital innovation is a significant priority for traditional companies especially here in the Philippines and we are at the bleeding edge of innovative technology with our focus on blockchain.”
He continues, “We are partnered with Unionspace, a coworking space that runs 13 locations across Southeast Asia including Indonesia, Thailand, and Malaysia. When ready, we look forward to rolling out into more countries together.”
Visit www.blockchainspace.ph to know more.