First national blockchain study charts path for digital future as innovators recognised at 2025 Block Awards. The Philippines launches its first Blockchain Industry Report, charting growth beyond crypto and play-to-earn, as leaders from government and private sectors are honoured for advancing blockchain innovation.
The Philippines has taken a major step towards cementing its place in the global digital economy with the release of its first comprehensive Blockchain Industry Report. Launched by the Blockchain Council of the Philippines in collaboration with Gorriceta Africa Cauton & Saavedra, the Gobi-Core Philippine Fund, and Tether, the report provides an unprecedented benchmark of the nation’s blockchain landscape, comparing it with regional counterparts across Southeast Asia.
Once heavily associated with cryptocurrency and play-to-earn (P2E) gaming, the Philippine blockchain ecosystem has seen rapid evolution. According to the report, the sector now extends its reach into vital areas such as remittances, decentralized finance (DeFi), digital identity, and logistics — underscoring the country’s growing maturity in the blockchain space.
The Philippines ranked eighth in the 2024 Global Crypto Adoption Index, a reflection of its early enthusiasm for digital currencies. Local companies such as Yield Guild Games (YGG) have made waves on the global stage, with YGG notably raising $4.6 million from Silicon Valley giant Andreessen Horowitz. But as the industry matures, experts say the focus is shifting beyond speculative assets towards technology with real-world applications.
Despite the promising growth, challenges remain. While 96 percent of Filipinos are aware of cryptocurrencies, only 28 percent are familiar with Web3 technologies, and more than half of the population has yet to engage with blockchain applications. Nevertheless, confidence in the technology is building, with 74 percent of respondents expressing trust in its security.
“This report is both a diagnostic and a roadmap,” said Mark Gorriceta, managing partner at Gorriceta Africa Cauton & Saavedra. “It offers legal, technological, and economic perspectives to help build a secure, innovative, and future-ready digital ecosystem in the Philippines.”
The study outlines five key recommendations to strengthen the country’s blockchain readiness: broadening regulatory frameworks beyond cryptocurrency, creating innovation sandboxes, fostering public-private educational partnerships, enhancing blockchain literacy, and expanding government adoption of digital services.
The launch of the report was followed by the 2025 Block Awards, an annual event honouring the individuals and organisations driving blockchain innovation in the Philippines. This year introduced new categories such as Youth Excellence, Community, and Regional Awards to reflect the growing national engagement with blockchain technology.
Among those recognised were former Department of Information and Communications Technology Undersecretary Jocelle Batapa Sigue and Securities and Exchange Commission Chairman Emilio Aquino, who were named Blockchain Leaders of the Year for the private and public sectors, respectively.
“This award tells me that the effort to innovate — especially in government — is worth it,” said Aquino. “Leadership is not about being the loudest voice in the room, but being the one who listens, studies, and takes the first step forward.”
Sigue echoed that sentiment, dedicating her award to “every leader who dedicates their time to listen to the whispers of innovation” and highlighting blockchain’s potential to empower communities and the nation.
Other honourees included CoinsPH for Best Web3 Customer Experience, Pitaka.io for Most Innovative Blockchain Project, and regional advocates such as Kookoo Crypto and the Davao DeFi Community. Web3 Youth Advocate of the Year went to Gelo Wong, while Blockchain Educator of the Year was awarded to Coach Miranda Miner.
This year’s jury, chaired by GCash’s Luis Buenaventura, incorporated public voting to broaden participation in recognising blockchain excellence. Winners received exclusive NFT trophies — a digital fusion of abstract works by National Artist Jose Joya and contemporary designs by his grandnephew, Andre Baldovino.
“The Block Awards is more than a celebration — it’s a call to action,” said Donald Lim, president of DITO CME and founding president of the Blockchain Council. “As the world moves deeper into the digital age, the Philippines must not just follow, but lead.”
