The national ID system of the Philippine Statistics Authority (PSA) remains on track this year. ePhilID, or the electronic version of the Philippine National Identification System (PhilID), can be used for all transactions in the country, allowing registered Filipinos to have better access to financial and social services—however, the initiative is facing public criticism over fear of data leaks.
In her visit to the Philippines during the last Digital Pilipinas Festival 2023 at the SMX Aura in Bonifacio Global City in Taguig, digital identity was nChain CIO Christine Leong’s central topic, and she says blockchain can be an enabler now that the country is implementing its ID system.
“I think, especially in the emerging economy, as you move into a new digital identity ecosystem, blockchain is an enabler part of that,” she said. “Using blockchain can leverage the capabilities of data sharing…[it] helps to ease the way of verification and also the aspects of trust.”
Leong shared with CoinGeek Backstage some real-world use cases of blockchain and the future projects of the global blockchain solutions firm.
Blockchain can be used for good
Working in the blockchain space since 2017, Leong has experienced her fair share of issues within the ecosystem—particularly with blockchain’s association with “cryptocurrency“—but the nChain CIO is firm that the ecosystem has always been focused on what blockchain technology can bring to the people.
“I think we all need to understand and differentiate between the craziness that is crypto and the nature of speculation. There will always be something new to speculate on, but that doesn’t mean that the fundamental technology is off, or it is not [what it’s supposed to be], which is to enable the next generation of applications that we can use and benefit from,” she explained.
Delving into nChain’s future and current works, Leong shared that the global blockchain solutions firm will launch a digital identity product. nChain is also working on an e-signing product similar to DocuSign, where users can sign a document securely recorded on the blockchain.
“It’s already in production and can be used across the board…It will be aligned to EU ID standards or the global standards that are emerging around identity,” Leong said, adding that all of their products made with blockchain must be interoperable and aligned with international standards.
nChain has more in store as the blockchain solutions firm plans for a one-stop shop for all Web3, including digital assets, digital identity signing, and events on chain.
“[We] will be launching a one-stop shop for developers to use so that they don’t have to go to six different vendors for all of the cool capabilities that will enable Web3,” she said.
To learn more about digital identity and its importance to the Web3 world, check this keynote speech by Christine Leong at the Digital Pilipinas Festival 2023 Day 2.
New to blockchain? Check out CoinGeek’s Blockchain for Beginners section, the ultimate resource guide to learn more about blockchain technology.