The post Digital Pilipinas Festival 2023: Is the Philippines worth investing in? appeared on BitcoinEthereumNews.com.

At the annual Digital Pilipinas Festival, experts in the field of finance and emerging technologies showed attendees a clear picture of the Philippines’ current situation in terms of its digitalization drive, what can be improved, the challenges that lie ahead when embarking in the digital world, and how to navigate setbacks and address risks. The two-day event at the SM Aura in Bonifacio Global City, Taguig, organized by the private sector-led movement Digital Pilipinas, saw startups and small and medium-sized enterprises (SMEs) showcase their products and services to a broader audience. Their presence at the Digital Pilipinas Festival served as a symbol to further innovation and grow collaboration. In recent conferences covered by CoinGeek, speakers have noted the hardships startups face in developing their businesses and keeping them afloat, with 90% of global startups having to close down their operations after failing to flourish in the competitive market. While several factors often lead to a business’s demise, one major element is not getting funding from venture capitalists (VCs). Weighing the potential A panel moderated by Digital Pilipinas lead convenor Amor Maclang touched on the topic of investments, with the almost 20-minute discussion revolving around the potential of the Philippines to lure investors as it makes headway in its digital transformation, the importance of securing cash, and which businesses could be the country’s next unicorn. “At the end of the day, there is no digital economy here unless you ‘hashtag show me the money,’” Maclang quipped as she started the talk with panelists nChain Co-founder and Executive Chairman Stefan Matthews, Yolo Group CCO Steve Tsao, and Creador Managing Director Omar Mahmoud. While some may see the Philippines’ underdeveloped sectors as a setback, nChain perceives it as an opportunity to showcase innovation, looking at blockchain technology as the key to tackling recurring decades-long problems and reaching the country’s digital ambitions to greater heights. “Digital transformation means social impact,”…

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Filed under: News - @ December 4, 2023 4:16 am